Following the Decision in Esanda Finance Corporation V Peat Marwick

question 33

Multiple Choice

Following the decision in Esanda Finance Corporation v Peat Marwick Hungerfords (1997) 71 ALJR 448,to whom does an auditor owe a duty of care?

• A)Anyone who reads the report.
• B)Only to the company who commissioned the report.
• C)Anyone who they know will rely on the report.
• D)Anyone who buys shares in the audited company.

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Definitions:

Cultural Storytelling

The use of narratives and stories to convey cultural values, beliefs, and histories, often to educate or entertain, while strengthening communal bonds.

Authenticity Deficit

Refers to a gap between a brand's messaging and its actual behaviors or product experiences, leading to consumer skepticism or mistrust.

Lack of Character

A term often applied to brands or products that fail to exhibit distinguishing traits, qualities, or a strong identity.

Cultural Branding Model

A framework for building brands based on cultural narratives and myths that resonate deeply with consumers, often weaving the brand into the fabric of society.