The "deep pocket theory" is based on joint and several liability and,as a result,auditors are often responsible for the full amount of losses to plaintiffs.

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The "deep pocket theory" is based on the concept of joint and several liability, which means that a defendant found liable for a harm can be held responsible for the entire harm even if other parties also share some of the blame. This theory is often applied to auditors, who are seen as having deep pockets due to their perceived financial resources and insurance coverage. As a result, they may be held fully responsible for losses suffered by plaintiffs, even if other parties also contributed to the harm.

The "Deep Pocket Theory" Is Based on Joint and Several