Under the liability provisions of Section 11 of the Securities Act of 1933, a CPA...
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Accounting
Under the liability provisions of Section of the Securities Act of a CPA may be liable to any purchaser of a security for certifying materially misstated financial statements that are included in the securitys registration statement. Under Section a CPA usually will not be liable to the purchaser:Multiple Choiceif there is contributory negligence on the part of the purchaser.if the CPA can prove due diligence.unless the purchaser can prove privity with the CPA.unless the purchaser can prove scienter on the part of the CPA.
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