Compliance with GAAPs and GAASs automatically relieve accountants of negligence liability.

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Compliance with GAAPs and GAASs does not automatically relieve accountants of negligence liability. While GAAPs and GAASs provide guidelines and standards for accounting practices, accountants can still be held liable for any negligence or errors in their work. Compliance with these standards can be used as evidence of due care, but it does not automatically absolve an accountant of any negligence.

Compliance with GAAPs and GAASs Automatically Relieve Accountants of Negligence