BGH Accounting firm audited the financial statements that were ...

[cool]

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

[dominiqueenicolee]

Answer to Question 1

TRUE

Answer to Question 2

FALSE

[cool]

Gracias!

[yeungji]

Thanks for the timely response, appreciate it