Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

This is a question with topics from the ethics and legal issues in my auditing textbook. It is a matching question. Each letter in the

This is a question with topics from the ethics and legal issues in my auditing textbook. It is a matching question. Each letter in the second column is matched with one response in the first column.

image text in transcribed

Legal Cases and Statutory Laws Please match the following significant legal precedents the letter of the or statutory laws to the description below. Insert ow. Each letter will be used once. ption in the bel Insert ID (etter Item of best Description res Rothenberg & Co. state the time, place, and contents of the allegedly false representations and identity of the person making Class Action Fairness Act of 2005 B. Auditor liability to 3 parties for ordinary to "reasonably foreseeable" parties Credit Alliance v. Arthur C. Requires "scienter as an essential element of the Andersen (1985 laintiffs burden of proof Ernst & Ernst v. D. Requires "privity" relationship to establish auditor Hochfelder (197 liabil to 3 for ordin Foreign Corrupt Practices E- Multistate class actions exceeding S5 million to be Act (1977 filed in Federal court Rosenblum, Inc. v. Adler F. Supreme Court ruled that defendant negligence was (1983) insufficient to establish Rule 10b-5 liability; plaintiff an intent to deceive Litigation G. Illegal acts including maiiand wire fraud Reform Act of 1995 Influenced and H. Demonstrates the need for a signed engagement Corrupt Organizations Act letter when perf orming non-audit services CO) (1970 Restatement (Second) of L Shifts burden of proof to the auditor to prove they the Law of Torts Were not negligent Rusch Factors v. Levin J. Extends auditor liability for ordinary negligence to es demonstrating "near Sarbanes-Oxley Act of K. Securities fraud cases exceeding 50 plaintiffs must 2002 be filed in Federal court Securities Act of 1933 L. Established recordkeeping and internal control Section 11 uirements for publicly traded com nies Securities and Exchange M. Auditor liability to 3 parties for ordinary and Rule 10b-5 even if not fically known to the auditors Securities Litigation N. Requires management members to certify Uniform Standards Act of financial reports 1998 Ultramares Corp. v Touche o. This case applied the Restatement (Secondo of the Law of Torts idance to an accountant's liability case Legal Cases and Statutory Laws Please match the following significant legal precedents the letter of the or statutory laws to the description below. Insert ow. Each letter will be used once. ption in the bel Insert ID (etter Item of best Description res Rothenberg & Co. state the time, place, and contents of the allegedly false representations and identity of the person making Class Action Fairness Act of 2005 B. Auditor liability to 3 parties for ordinary to "reasonably foreseeable" parties Credit Alliance v. Arthur C. Requires "scienter as an essential element of the Andersen (1985 laintiffs burden of proof Ernst & Ernst v. D. Requires "privity" relationship to establish auditor Hochfelder (197 liabil to 3 for ordin Foreign Corrupt Practices E- Multistate class actions exceeding S5 million to be Act (1977 filed in Federal court Rosenblum, Inc. v. Adler F. Supreme Court ruled that defendant negligence was (1983) insufficient to establish Rule 10b-5 liability; plaintiff an intent to deceive Litigation G. Illegal acts including maiiand wire fraud Reform Act of 1995 Influenced and H. Demonstrates the need for a signed engagement Corrupt Organizations Act letter when perf orming non-audit services CO) (1970 Restatement (Second) of L Shifts burden of proof to the auditor to prove they the Law of Torts Were not negligent Rusch Factors v. Levin J. Extends auditor liability for ordinary negligence to es demonstrating "near Sarbanes-Oxley Act of K. Securities fraud cases exceeding 50 plaintiffs must 2002 be filed in Federal court Securities Act of 1933 L. Established recordkeeping and internal control Section 11 uirements for publicly traded com nies Securities and Exchange M. Auditor liability to 3 parties for ordinary and Rule 10b-5 even if not fically known to the auditors Securities Litigation N. Requires management members to certify Uniform Standards Act of financial reports 1998 Ultramares Corp. v Touche o. This case applied the Restatement (Secondo of the Law of Torts idance to an accountant's liability case

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing Social Media A Governance And Risk Guide

Authors: Peter R. Scott, J. Mike Jacka

1st Edition

1118061756, 978-1118061756

More Books

Students also viewed these Accounting questions

Question

4. Describe cultural differences that influence perception

Answered: 1 week ago