Principles of Auditing & Other Assurance Services (Irwin Accounting)
Principles of Auditing & Other Assurance Services (Irwin Accounting)
20th Edition
ISBN: 9780077729141
Author: Ray Whittington, Kurt Pany
Publisher: McGraw-Hill Education
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Chapter 4, Problem 9RQ
To determine

Compare auditor’s common law liability for clients and third parties with common law liability for other third parties.

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Explain the auditor legal liability, this includes what law that procure such liability?
Distinguish between common-law liability and statutory liability for auditors. What is the basis for the difference in liability?
Distinguish between common-law liability and statutory liability for auditors. What is the basis for the difference in liability, and what are the key practical differences between the two, such as burdens of proof, consequences or penalties, intent, etc.?
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