Tnmchawk cocp oally ngcged indan co cpas to audit i

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67. Tnmc.,hawk Co:cp. o.=ally <::ngc.ged Ind.~_an &. Co., CPAs, to audit i-ts final ::::.:c<-.1 statements. Tomahawk's mc1nagenent informed Ind~an that it '3uspec-ced that t~E:: accounts receivable were materially overstated. !Uthou,,h the finc...nc~al ~tat:ements ~hut Indic::.n audited did, in fact, in::::lude a :naterially oversta".:cd ac-;-.ou:1t.s rece~vable bal.ar.ce, Indian .Lssuec " standard u;''cyualil'ied report. If l'omahawk sues IndL1n for negJ l':)er.cc ln. f~iling to discoJer the over.-:t.atement:, InJjan' s best defcc>!t:=:e W)uld be' '::hdt:" c _ndian nuia:1 Indian had S.Lc:;r.ed no eHgageme.nc let.ter. per£ormec< th~ CJ.u.ciit in c::.ccordanL:e witl:. PSJ\s. w~s not in privity of contract with Torea~awk.
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