Question
Fiona Wang is a certified public accountant that owns and operates her own public accounting firm, Wang, CPA.Wang, CPA provides accounting services to Global Trade
Fiona Wang is a certified public accountant that owns and operates her own public accounting firm, Wang, CPA.Wang, CPA provides accounting services to Global Trade Corporation. The services include preparing Global Trade's financial statements and issuing opinion letters based on the financial statements.In 2014, Global Trade falls into serious financial trouble including cash flow problems.Neither Global Trade's financial statements nor Wang's opinion letters indicate this situation. Relying on Wang's portrayal of Global Trade's financial situation, Global Trade borrows a large sum of money to build a new shipping facility. In lending Global Trade the money, Harbor City Bank relies on Wang's opinion letter. Wang is aware of this reliance. If Wang was negligent, what is her potential liability?
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