An accountant's failure to follow generally accepted auditing standards when performing an audit constitutes:
A) civil fraud.
B) civil misrepresentation.
C) negligence.
D) civil deceit.
E) no-fault liability.

Question

Quizplus · Accepted Answer

When an accountant fails to follow generally accepted auditing standards, it constitutes negligence. Negligence is a failure to exercise reasonable care or diligence in performing professional duties, which can result in harm or injury to another party. It is different from civil fraud, misrepresentation, or deceit, which involve intentional deception or misrepresentation of facts. No-fault liability is a concept in which liability is based on strict liability or liability without fault, which is not applicable in this case.

An Accountant's Failure to Follow Generally Accepted Auditing Standards When