Professional Documents
Culture Documents
Legal Liability: ©2006 Prentice Hall Business Publishing, Auditing 11/e, Arens/Beasley/Elder
Legal Liability: ©2006 Prentice Hall Business Publishing, Auditing 11/e, Arens/Beasley/Elder
Legal Liability: ©2006 Prentice Hall Business Publishing, Auditing 11/e, Arens/Beasley/Elder
Chapter 5
Audit
failure
Business
failure
Audit
risk
Business failure
Audit failure
Audit risk
Ordinary Gross
negligence negligence
Constructive
Fraud
fraud
Breach of Third-party
contract beneficiary
Constructive
Fraud
fraud
Common Statutory
law law
Federal Criminal
securities laws liability
Nonnegligent performance
Contributory negligence
Ultramares doctrine
Foreseen users
Credit alliance
Restatement of torts
Foreseeable user
Nonnegligent performance
Lack of duty
Education of users
Maintain independence