please explain why choosing the answers

2.13 The following questions deal with liability under the statutory law. Choose the best response. A) Major Industries Ltd made a $50 million public share offering. Prior to the offer, their auditors, Spike & Blunt, expressed and unmodified opinion as to the annual financial statements. Subsequent to the offering, significant misstatements were revealed. Spike & Blunt was sued by the purchasers of the shares, who claimed reliance on the published financial statements. Spike & Blunt's best defence is to: 1. Prove the misstatements were caused primarily by Major Industries 2. Show that at least some of the investors did not actually read the audited financial statements 3. Prove due diligence in the audit of the financial statement of Major Industries 4./Argue that, under the Corporations Act 2001, Spike& Blunt didn't owe any duty of eare to the individual shareholders purchasing the new shares B) Tan & Wang audited the financial statements included in the annual report of Makum insolvent and unable to satisfy the claims of its customers. The customers have indituted following is Tan & Wang's best defence? securities Ltd. The audit was improper in several respects. Makum Securities is now legal action against Tan & Wang under the Austratian Consumer Law. Which of the / They did not intentionally or knowingly eertify false financial statements. 2. The Australian Consumer Law doesn't address this situation 3. The customers of Makum Securities did not have privity under the audit contract 4. Their engagement letter specifically disclaimed any liability to any party resulting from Makum Securities' fraudulent conduct