Explore BrainMass

responsibility of auditors

"Accounting firms should be liable to pay stockholders if they give a company a clean audit and it goes bankrupt within a year".

Write a response disagreeing with the above statement

Solution Preview

This statement is completely false. Perhaps, at the time when the accounting form audited company X, Company X was in good health. An audit is a snapshot in time - it reflects the ...

Solution Summary

The responsibility of auditors is noted.