Can the bank bring an action against hamble & humphries

Assignment Help Project Management

Reference no: EM131274792

National Bank was deciding whether to loan money to Pateo Corporation. It asked Pateo to provide a copy of the company's most recent audit. While doing the audit, the auditors, Hamble & Humphries, failed to follow up on evidence indicating that one of the firm's managing partners might be siphoning money out of the corporation's funds. Relying on the audit, the bank made the loan. Six months later Pateo went into bankruptcy, primarily because one partner had stolen funds from the corporation and had then fled the country.

Can the bank bring an action against Hamble & Humphries? Why is your answer dependent on the state in which the case arose?

Reference no: EM131274792

Questions Cloud

Exists a positive integer : For every positive integer b, show that there exists a positive integer n such that the polynomial x^2 - 1 ∈ (Z/nZ)[x] has at least b roots.

What is definition of race how is race socially constructed : What is the definition of race? How is race socially constructed? Must be at least 300 words APA format- (Reference page no included in word count).

Discuss the outcome of woestes appeal : The motion for summary judgment was granted for Washington Platform and Woeste appealed. Discuss the outcome of Woeste's appeal.

What are their pros and cons : DISCUSS IN DETAIL MINIMUM OF 4 RISK ANALYSIS MODELS SPECIFICALLY(MSRAM, CARVER, TRAM, RAMCAP, MBRA and so on) WHAT ARE THEIR PROS AND CONS? WHICH SHOULD BE RECOMMENDED TO DECISION MAKERS?

Can the bank bring an action against hamble & humphries : Can the bank bring an action against Hamble & Humphries? Why is your answer dependent on the state in which the case arose?

Which is a mandatory requirement of supplier relationships : Which of the following is a mandatory requirement of supplier relationships? There are several primary reasons why cultural change must either precede or at least parallel the implementation of total quality.

How the situation could have been handled or perhaps : Please provide a one page executive summary on the Blackout of 2003. Your summary should not exceed one single spaced page and should include Who, What, When, Where, Why and How the situation could have been handled or perhaps how the situation wa..

Will bob be able to bring a strict product liability : A defect in the engine caused the explosion. Will Bob be able to bring a strict product liability action against the manufacturer of the engine?

Identify the shortcomings of both it and the business : Overall, how effective is the partnership between IT and the business at Hefty Hardware? Identify the shortcomings of both IT and the business. Create a plan for how IT and the business can work collaboratively to deliver the Savvy Store program su..

User Account

All Pages