Which of the following would be the auditors most likely defense in an action brought under the

Question:

Which of the following would be the auditors’ most likely defense in an action brought under the Securities Exchange Act of 1934?
a. The investor did not have privity with auditors.
b. The investor did not suffer a loss based on the materially misstated
c. The auditors acted in good faith and were not aware of the materially misstated
d. The were not filed with the Securities and Exchange Commission.

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...