Examlex
Which of the following is not required for establishing an auditor's liability for negligence?
Supermajority Voting
The board needs more than a simple majority of directors to vote in favor of an action before the action is possible; for example, it may require a 2/3 or unanimous vote prior to action.
Managerial Discretion
The degree of freedom managers have in making decisions without needing direct approval from higher-ups.
Fraudulent Conduct
Deceptive actions or behavior intended to gain an unfair advantage or to deceive others, often leading to financial or personal loss for the victim.
Voting Power
The total number of votes shareholdings represent, allowing shareholders influence over corporate decisions.
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