The auditor may effectively assert the defense of adherence to professional standards in all of the following type of legal actions except negligence action by a client a Rule 10-b(5) be investors that asserts an intent to deceive action by a private investor asserting negligence no exception; adherence to professional standards is always an effective defense FEEDBACK 0/13 (0.0%) X An auditor owes a duty of honesty to all third parties. Intent to deceive is fraud and adherence to standards is not a defense. 5 What is the key distinction between audit services and attest services? Audit services provide written reports to interested users while attest services do not. Audits provide assurance regarding subject matter that is the responsibility of others while attest services do not Audits are not limited to economic actions and events while attest services are. None of the above is a distinction between audits and attest services FEEDBACK 0/14 (0.0%) Both audits and attest services provide written reports and both are regarding subject matter that is the responsibility of others. However, only audits are limited to economic actions and events. X