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Do you think the Restatement rule is better than the Ultramares doctrine in assessing accountants' liability to third parties?

Business Ethics: Did the accountant act ethically in denying liability in this case?

Contemporary Business: Are accountants often sued as 'deep pockets'?

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Do you think the Restatementrule is better than the Ultramares doctrine in assessing accountantsâ?? liability to third parties?
No, I do not think that that the restatement rule is better than the Ultramares doctrine in assessing accountant's liability to the third party. The reason is that if the accountant is honest, then his liability becomes higher in case of the Restatement rule when compared to the Ultramares doctrine. In the Ultramares doctrine, the accountant is liable only for negligence to third parties who are in privity of contract or privity like relationships with the accountant. On the other hand Section 552 of the Restatement of Torts, an accountant is liable for negligence to third parties who are members of a limited class of intended users of financial statements. Since, this is a broader standard, I consider this to be less appropriate than the Ultramares doctrine, if the accountant is honest and ethical.
Business Ethics Did the accountant act Do you think the Restatement rule is better than the Ultramares doctrine in assessing ...

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