Clients Have a Right to an Explanation of Their Results

question 30

Essay

Clients have a right to an explanation of their results.  What about situations where the results may have a negative impact on the client?  How should this be handled without violating the client's rights?

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Definitions:

Limited Liability Partnership

A partnership in which some or all partners have limited liabilities, protecting personal assets from business debts and claims.

Negligently Audits

Involves performing an audit with a lack of proper care or attention, potentially leading to inaccurate or incomplete results.

Personal Assets

Individual-owned resources of economic value such as cash, real estate, investments, and personal property.

Vicariously Liable

Legal responsibility assigned to one party for the actions of another, based on a special relationship between the two.