Your favorite uncle unfortunately died. He was quite fond of you and left you a substantial inheritance. A friend of yours, Renate, has asked to borrow money to expand her growing food truck business. You want to support Renate, but you also want to protect your money from a bad investment. You ask Renate to obtain a certified financial statement for the business so you can decide whether the loan is well-advised. Renate hires an accountant and tells the accountant that she needs a certified financial statement and that you, as a possible lender, will rely on the statement to decide if giving Renate a business loan is a good financial decision.

The accountant does a shoddy job in investigating the finances of Renate's business. As a result, the financial statement indicates the business is much healthier financially than it is. Relying on the statement, you make the loan. Soon after, Renate's business struggles and Renate is unable to repay your loan. You fault the accountant for your loss and want to sue him for malpractice.

Is the accountant liable to you for negligence in preparing the financial statement?

A. No, the accountant is not liable because you were not the accountant's client.

B. Yes, an accountant is liable to anyone who suffers a financial loss as a result of relying on the accountant's work product.

C. Yes, the accountant is liable even though you were not the accountant's client.

D. No, the law protects accountants from liability even when they perform their professional responsibilities negligently.