Table of Contents Introduction Accountants’ Liability to the Client and Third-Party A) Breach of Contract B) Ordinary Negligence (Accountant Malpractice) C) Fraud a. Constructive Fraud (Gross Negligence) b. Actual Fraud Accountants’ Liability under Common Law for Third-Party A) The Near-Privity Doctrine B) The Restatement Doctrine C) The Foreseeability Doctrine D) The Balancing-Factors Doctrine Accountants’ Liability under Statutory Law Third-Party A) Securities Act of 1933 B) Securities
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Product Liability Law Outline I. Introduction Imagine getting the same old dog or cat food for your pet that you always get and all of a sudden your pet gets sick and dies. Is this a case that can be filed against the business you bought the food from‚ the company that made the food‚ or both? Should companies be held accountable to a higher degree? II. Definition of Product Liability Business Law: The Ethical‚ Global‚ and E-Commerce Environment
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decided a number of cases dealing with liability for injuries that occurred on the property of the defendant involving two different parties. On the basis of the premise liability claim‚ our client has a case against the hotel. The premise liability claim is based on common law principles of negligence and derives from an establishment’s lack of supervision‚ care‚ or control of the premises. RESTATMENT (SECOND) OF TORTS §344 (1965). According to the premise liability claim‚ a tavern owner has a duty to
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assets continually re-valued to fair value: provide DT Permits discounting Use tax rates enacted or substantively enacted Separately disclose where very material Reconciliation of current tax charge Don ’t provide DT where FRS 7 adjustment made Applies to all financial statements FRSSE are exempt Accounting periods ending on or after 23 January 2002 SSAP 15 gone Background and discussion IAS 12 full recognition of DT but uses "temporary differences" rather than "timing differences". Temporary is wider
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Strict Liability for Defective Products - Part X of the CPA 1999 Section 68(1) provides that where any damage is caused wholly or partly by a defect product‚ the following persons shall be liable for the damage. The plaintiff only has to prove damage or defect in the product. Part X of CPA does not cover every product. Section 66 provides types of product such as goods and component parts and raw materials. Section 3 provides definition of goods. Only the goods which are purchased for private and
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PARTY LIABILITY) WORD COUNT 3000 The liability of auditors to third parties has been the subject of much litigation. Litigation claims against accountancy firms have increased dramatically in the last thirty years. Previously‚ such cases were rare and were viewed with great interest. Nowadays‚ whereas still treated with great interest they are becoming all kind of common. The specific area of auditors ’ liability to third
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While completing undergraduate school work in information systems‚ Dallin Bourne and Michael Banks decided to start a business called ISys Answers which was a technology support company. During year 1‚ they bought the following assets and incurred the following fees at start-up: Year 1 Assets Purchase Date Basis Computers (5-year) October 30‚ Y1 $15‚000 Office equipment (7-year) October 30‚ Y1 $10‚000 Furniture (7-year) October 30‚ Y1 $3‚000 Start-up costs October 30‚ Y1 $17‚000 In April of year
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Roles of Limited Liability Corporations and Partnerships Martin M. Komertz FIN 419 3/21/2011 John Wetherington Roles of Limited Liability Corporations and Partnerships In the following paper‚ I will look to identify the roles and differences between Limited Liability Corporations and Partnerships. Each has different advantages and disadvantages than the other. I will look to break down each and then identify which method of ownership would be the preferred method from an individual
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Assignment Topic: Marketing of Bank’s Liability products Subject: Marketing Management – I Ankita Roy 11DM008 Neha Saha 11DM018 P.Santhosh 11DM028 Siddarth Singh 11DM038 Anirban Dhar 11DM048 Debabrata Subudhi 11DM058 Marketing of Liability Products Introduction; Commercial banks offers a varieties of product to the customers‚ these products are known as ‘’liability product” because they represent liability of the bank. Consumer generally know them as “deposit product”. There are number
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5 Asset and Liability Management (ALM) 29. There are different organizational and governance models that guide the management of bank asset and liability activities. The models reflect fundamentally different risk philosophies that tend to evolve with the growing sophistication and depth of financial markets together with the position and activities undertaken by a bank in the market. The terms ‘ALM unit’ and ‘treasury unit’‚ can be confusing as they are often used by organizations who assign
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