Author Question: BGH Accounting firm audited the financial statements that were included in E-prise's registration ... (Read 106 times)

cool · **on:** Jun 24, 2018

BGH Accounting firm audited the financial statements that were included in E-prise's registration statement. The financial statements overstated sales by 2000. In conducting the audit, BGH did not comply with generally accepted auditing standards (GAAS). Under the Securities Act of 1933 Act, BGH is liable for any material misstatement or omission in the financial statements they prepared for E-prise.
Indicate whether the statement is true or false

Question 2

Under the amended Securities Exchange Act of 1934, accountants are liable jointly and severally whether or not they knew they were violating the law.
Indicate whether the statement is true or false