Violations of generally accepted accounting principles (GAAPs) or generally accepted auditing standards (GAASs), or International Financial Reporting Standards (IFRSs), if applicable, are prima facie evidence of negligence in any court action.

Question

Quizplus · Accepted Answer

Violations of GAAPs, GAASs, or IFRSs are considered a failure to exercise due care and diligence in performing professional services, and therefore can be used as evidence of negligence in legal proceedings.

Violations of Generally Accepted Accounting Principles (GAAPs) or Generally Accepted