Accounting Ethics: Statutory liability for auditors скачать в хорошем качестве

Accounting Ethics: Statutory liability for auditors

Auditors may have legal liability under the Securities Act of 1933 and the Securities Exchange Act of 1934. Securities purchasers can sue the issuing company and others, including auditors, for losses suffered by 3rd parties when false or misleading information is included in a registration statement. If the plaintiff can proof that damages occurred, and there was misleading or false information, it is considered a prima facie case – which means that it’s sufficient enough of a case and the burden of proof shifts to the accountant. The accountant can then use the materiality defense or the due diligence defense to avoid liability. In this video, we will learn more about statutory liabilities that may lead to convictions for crimes primarily under the securities act of 1933 and the securities exchange act of 1934. We'll discuss the history of the Securities Act of 1933 and the Securities Exchange Act of 1934 and the materiality and due diligence defenses auditors can use to defend themselves against liability. This topic is covered in your homework, cases, discussions, and unit exams. #accounting #accountinglectures #accountingtutorials #accountingconcepts #accounting_concept #accountingtips #accountingbasics #accounting ethics #ethicsmatter #cpa_ethics #ima_ethics #ethicsmatter #cpa #cpatips