Tag Archives: Litigious

Explain why the failure of financial statement users to differentiate among business failure, audit failure, and audit risk has resulted in lawsuits.

LEGAL LIABILITY After studying this chapter, you should be able to 5-1 Understand the litigious environment in which CPAspractice. 5-2 Explain why the failure of financial statement users to differentiate among business failure, audit failure, and audit risk has resulted in lawsuits. 5-3 Use the primary legal concepts and terms concerning accountants’ liability as a […]