Which of the following rules provides that an accountant is liable only for negligence to third parties who are members of a limited class of intended users of the client's financial statements?
A) Section 552 of the Restatement (Second) of Torts
B) the foreseeability standard
C) the Ultramares doctrine
D) due diligence defense

Question

Quizplus · Accepted Answer

Section 552 of the Restatement (Second) of Torts limits an accountant's liability for negligence to third parties who are members of a limited class of intended users of the client's financial statements, distinguishing it from broader or more general standards of liability.

Which of the Following Rules Provides That an Accountant Is