The certified public accounting partnership of Ferris, Cameron, and Sloane prepared a certified audit report for the Day Off Enterprises Corporation, with knowledge that their report would be used to induce Glenbrook Corp. to lend money to Day Off Enterprises.

The report showed the Day Off Enterprises to be solvent when in fact they were insolvent.

Glenbrook relied on the audit report, loaned approximately $523,704 to Day Off Enterprises, and lost almost all of it because the liabilities of Day Off Enterprises far exceeded their assets.

Glenbrook claimed that Ferris and other accountants had been negligent in preparing the report and sued them to recover the loss on the loan.

The accountants argued that they had been retained not by Glenbrook but by Day Off Enterprises and therefore cannot be sued by Glenbrook under any circumstances.

Are the accountants correct? (You must answer yes or no and explain your reasoning).

Please do not plagiarism answer from chegg's also answer the question in details. appreciate it.