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Which of the given is best defense the auditors could assert

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Reference no: EM131624654

Question: If a CPA firm is being sued for common law fraud by a third party based upon materially false financial statements, which of the following is the best defense the auditors could assert?

a. Lack of privity.

b. Lack of reliance.

c. A disclaimer contained in the engagement letter.

d. Contributory negligence on the part of the client.

Reference no: EM131624654

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