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Explain: (1) auditors' potential liability under relevant criminal and civil statutes, (2) what plaintiffs must prove under relevant criminal and civil statutes, and (3) what
Explain: (1) auditors' potential liability under relevant criminal and civil statutes, (2) what plaintiffs must prove under relevant criminal and civil statutes, and (3) what auditors must demonstrate under relevant criminal and civil statutes in order to successfully defend themselves. Finally, explain why auditors are so susceptible to litigation in the wake of business failures, and what auditors can do to limit their exposures to litigation and reputational losses.
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