Which of the following is the broadest standard for holding accountants liable to third parties for negligence?
A)Section 552 of the Restatement (Second)of Torts
B)the foreseeability standard
C)the Ultramares doctrine
D)the due diligence doctrine

Question

Quizplus · Accepted Answer

The foreseeability standard is the broadest criterion for holding accountants liable to third parties for negligence because it potentially extends liability to any parties that the accountant could reasonably foresee as relying on their work. This contrasts with more limited standards, such as the Ultramares doctrine, which restricts liability to parties in privity of contract or known users of the financial statements.

Which of the Following Is the Broadest Standard for Holding