Section 11 of the Securities Act of 1933 and Section 10 of the...
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Accounting
Section 11 of the Securities Act of 1933 and Section 10 of the Securities Exchange Act of 1934 make a CPA potentially liable to a buyer of registered securities. For points a to f, place a check mark () below the column if the plaintiff must prove its existence:
The Claimant must provide
Section 11
(Securities Act of 1933)
Section 10
(Securities Exchange Act of 1934)
A
Financial statements are deceptive
B
CPA did not act with due diligence.
C
The Claimant relied on the financial statements.
D
CPA acted as a scientist
E
The plaintiff suffered a loss.
F
The plaintiff was the main beneficiary of the audit.
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