An accountant's failure to follow the GAASs when conducting audits constitutes negligence.

Question

Quizplus · Accepted Answer

Negligence refers to the failure to exercise reasonable care or skill in conducting professional duties. GAASs (Generally Accepted Auditing Standards) provide guidelines and principles that auditors must follow to ensure they perform their duties with appropriate care and quality. Therefore, failure to follow GAASs can be considered negligence.

An Accountant's Failure to Follow the GAASs When Conducting Audits