What did the Credit Alliance Corp. v. Arthur Andersen & Co. decision establish? ...
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What did the Credit Alliance Corp. v Arthur Andersen & Co decision establish? Auditors are liable for negligence to all foreseeable third parties. Auditors must demonstrate knowledge of thirdparty reliance to be held liable for negligence. Auditors must provide absolute assurance in financial audits. Auditors cannot be held liable for ordinary negligence.
What did the Credit Alliance Corp. v Arthur Andersen & Co decision establish?
Auditors are liable for negligence to all foreseeable third parties.
Auditors must demonstrate knowledge of thirdparty reliance to be held liable for negligence.
Auditors must provide absolute assurance in financial audits.
Auditors cannot be held liable for ordinary negligence.
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