Under Section 11(b)of the Securities Act of 1933,if Auditors Can

question 105

Short Answer

Under section 11(b)of the Securities Act of 1933,if auditors can prove that a reasonable investigation was performed (e.g.,an audit conducted in accordance with __________________________________________,they are not liable for damages.

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Definitions:

Federal Privacy Act

A United States legislation aimed at protecting the privacy of individuals by regulating how the federal government collects, maintains, and uses personal information.

Written Consent

Formal approval documented in writing, often required for legal or official procedures.

Interstate Commerce Commission

The Interstate Commerce Commission (ICC) was a regulatory agency in the United States responsible for enforcing federal regulations governing railroad rates and operations. It has since been dissolved and replaced by other bodies.

Anti-Competitive Nature

Behaviors or actions by companies that unfairly restrict competition and control markets.