QUESTION 1 (5 Marks) PR Money Limited (PR Money) is taking action against Joe &...
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QUESTION 1 (5 Marks) PR Money Limited (PR Money) is taking action against Joe & Associates (Joe) over the audit of Chicken Pty Ltd (Chicken) which went into liquidation owing almost $50 million dollars to its creditors, including $10 million to PR Money. PR Money claimed that the profits recorded were vastly overstated and inventory levels inflated in the financial report of Chicken. Joe has denied that they were negligent and that they relied heavily on the information provided by Chicken's management Required: Do you believe that Joe owes PR Money a duty of care? Provide reasons for your decision, citing relevant case law where appropriate
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