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Author Question: As a consequence of his failure to adhere to generally accepted auditing standards in the course of ... (Read 33 times)

olgamartinez04

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on: Aug 21, 2022
As a consequence of his failure to adhere to generally accepted auditing standards in the course of his examination of the Lamp Corp., Harrison, CPA, did not detect the embezzlement of a material amount of funds by the company's controller. As a matter of common law, to what extent would Harrison be liable to the Lamp Corp. for losses attributable to the theft?
◦ He would have no liability, since the ordinary examination cannot be relied upon to detect thefts of assets by employees.
◦ He would have no liability because privity of contract is lacking.
◦ He would be liable for losses attributable to his negligence.
◦ He would be liable only if it could be proven that he was grossly negligent.
Auditing and Assurance Services ¦ Arens, Elder, Beasley, Hogan ¦ 17th Edition
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Marked as best answer by olgamartinez04 on Aug 21, 2022

Harsh06

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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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olgamartinez04

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Reply 2 on: Aug 21, 2022
Thanks for the timely response, appreciate it

31809pancho

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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