There Are Four Major Sources of an Auditor's Legal Liability

question 133

Essay

There are four major sources of an auditor's legal liability. One source is liability to the audit client. List the other three sources.

---

Definitions:

Consumers' Dislike

The negative reactions or attitudes consumers have towards a product or service.

Perception

Perception is the process by which individuals organize and interpret their sensory impressions to give meaning to their environment or situations.

Monopolistic Competition

A market structure characterized by many firms selling products that are similar but not identical, with some degree of market power.

Identical Dental Services

Dental health care services that are the same in quality and scope, offered by different providers under similar conditions.