An Accountant Who Fails to Discover Every Impropriety in a Client's

question 61

True/False

An accountant who fails to discover every impropriety in a client's books is liable to the client on a negligence theory for any resulting loss.

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Definitions:

Debt Collection

The process of pursuing payments of debts owed by individuals or businesses, typically undertaken by creditors or specialized agencies.

Confidentiality

The ethical principle or legal right that a physician or other professional will hold secret all information relating to a client unless the client gives consent permitting disclosure.

Jeremy Bentham

An English philosopher and jurist, considered the founder of modern utilitarianism, advocating that actions are right if they are useful or for the benefit of a majority.

Basic Job

A position of employment that typically requires limited skills or education and often involves routine tasks or manual labor.