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Unformatted text preview: statement that the accounting method was changed nor the information on the financial statements were enhance. Now under the Foreseeability standard, yes the CPA firm is liable since the shares were purchased based on the information provided after the auditor prepared the financial statements. 51.7 – There is confidentiality but there are also some exceptions, if an accountant is subpoena this confidentiality is no longer valid. Also if the accountant feels that to avoid a subpoena should provide this information to a government agency. I believe the accountant should of waited for the IRS to request this information. Wait for the subpoena and then provide the information requested, not to volunteer the information. Roberts would win....
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This note was uploaded on 10/28/2011 for the course B LAW b law taught by Professor Blaw during the Spring '11 term at Keller Graduate School of Management.
- Spring '11