The two cases that formed the basis for most subsequent decisions as to the determination...
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Accounting
The two cases that formed the basis for most subsequent decisions as to the determination of auditor negligence were:
| AWA and HIH. | ||
| Caparo Industries and Esanda. | ||
| Pacific Acceptance and London and General Bank. | ||
| Kingston Cotton Mill and London and General Bank. |
Match the case with the ruling, and choose the correct matching: Cases: Rulings:
| Caparo Industries Pty Ltd v. Dickman | A. An auditor is a watchdog, but not a bloodhound |
| Kingston Cotton Mill Co. | B. Contributory negligence |
| AWA Ltd v. Daniels | C. An auditors duty of care is owed to shareholders as a group, not to individual shareholders |
| A, B, C | ||
| B, C, A | ||
| C, A, B | ||
| A, C, B |
The principles established by Justice Moffitt in the Pacific Acceptance case do not include:
| auditors have a duty to use reasonable skills and care. | ||
| auditors must properly document procedures used. | ||
| auditors are watchdogs but not bloodhounds. | ||
| auditors must audit the whole year. |
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