Under Section 552 of the Restatement (Second)of Torts,an accountant is liable for his or her negligence to any member of a limited class of intended users for whose benefit the accountant has been employed to prepare the client's financial statements or to whom the accountant knows the client will supply copies of the financial statements.

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Section 552 of the Restatement (Second) of Torts recognizes the concept of third-party liability of accountants. It states that an accountant is liable for his or her negligence to any member of a limited class of intended users, for whose benefit the accountant has been employed to prepare the client's financial statements or to whom the accountant knows the client will supply copies of the financial statements. This rule is commonly known as the "Foreseeable User Rule." Therefore, the given statement is true.

Under Section 552 of the Restatement (Second)of Torts,an Accountant Is