Chris Burchfield Unit 5 Assignment - INTRODUCTION TO...

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INTRODUCTION TO ACCOUNTANT RESPONSIBILITY Accountant responsibility is the ethical obligation of an accountant to the customer that relies on their work. Accounts are liable for damages to their client in the event of fraud and negligence and may also be held liable for damages caused to third parties if fraudulent conduct is discovered. ACCOUNTANTS RESPONSIBILITY TO CLIENTS ACCOUNTANTS RESPONSIBILITY TO THIRD PARTIES ACCOUNTANTS RESPONSIBILITY TO THE GOVERNMENT Next I will search the Internet for actions that have been brought against accountants or accounting firms. Select an action or claim that relates to each of the three parties discussed in part 1 of the paper, and summarize the details. For each of the three actions and/or claims, I will identify which act or law that was broken by the accountant and how. ACTION OR CLAIM RELATED TO CLIENTS ACTION OR CLAIM RELATED TO THIRD PARTIES ACTION OR CLAIM RELATED TO THE GOVERNMENT There is a limited accounting- client privilege. Currently, this privilege applies only to civil cases
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