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Author Question: The King Surety Company wrote a general fidelity bond covering thefts of assets by the employees of ... (Read 23 times)

wqwpfwpoefnpwenf

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on: Aug 21, 2022
The King Surety Company wrote a general fidelity bond covering thefts of assets by the employees of Wilson, Inc. Thereafter, Cooney, an employee of Wilson, embezzled $17,200 of company funds. When the activities were discovered, King paid Wilson the full amount in accordance with the terms of the fidelity bond, and then sought recovery against Wilson's auditors, Lynch & Merritt, CPAs. Which of the following would be Lynch & Merritt's best defense?
◦ King is not in privity of contract.
◦ The shortages were the result of clever forgeries and collusive fraud which would not be detected by an examination made in accordance with generally accepted auditing standards.
◦ Lynch & Merritt were not guilty either of gross negligence or fraud.
◦ Lynch & Merritt were not aware of the King-Wilson surety relationship.
Auditing and Assurance Services ¦ Arens, Elder, Beasley, Hogan ¦ 17th Edition
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Marked as best answer by wqwpfwpoefnpwenf on Aug 21, 2022

SphnxKickin

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Reply #1 on: Aug 21, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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wqwpfwpoefnpwenf

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Reply 2 on: Aug 21, 2022
YES! Correct, THANKS for helping me on my review

covalentbond

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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