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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states such as New Jersey‚ Delaware‚ and New York among others‚ struggled to appeal to major corporations by eliminating limitations like on corporate size as well as mergers (Roach‚ 2007). Multinationals developed as time went by. The economic implication of multinationals has been evident in various ways. There has been an increase in their economic scale‚ mainly when gauged as per their productive assets’ ownership. Although the scope and economies of scale have led to the growth of the multinationals
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about acceptable audit risk‚ inherent risk‚ the preliminary judgement about materiality‚ and performance materiality should be made early in the audit during the planning phase. The purpose of assessing risks early is to help auditor plan the audit by deciding which parts of the audit to emphasize and the extent of testing. It helps auditors to understand the nature‚ timing‚ extent of the accounts‚ therefore plan a right procedure and the appropriate evidence to accumulate 2. Explain how the levels of
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Social Research Governance in the public sector institutions in Jamaica: Internal Auditors Introduction The responsibility of the internal audit is to serve the Ministry of Justice in a manner that is consistent with the Financial Administration and Audit Act‚ Standards for the Professional Practise of Internal Auditing and with professional standards of conduct. This activity has the potential to provide hitherto unparallel services to management in the conduct of their duties. Background
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Attorney From: Paralegal Re: Vicarious Liability John Stokely is responsible for injuring the motorcyclist while driving a vehicle from AAA Auto Dealers. Employers are vicariously liable under the respondeat superior doctrine. In the respondeat superior doctrine‚ in most cases‚ an employer is responsible for the actions of employees performed within the scope of employment. John Stokely used the company’s vehicle for personal reasons‚ regardless of what they were‚ and negligently collided into
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Davies (2011) defines risk factors as influences from within the environment that increase the possibility of negative future outcomes for children. It was explained that there are three types of risk factors. The first one is the child being exposed to vulnerabilities such as mental disabilities or chronic illness. The second one is impaired parenting and the third one was socioeconomic and institutional status. From the film‚ Walter has had to experience all three risk factors. The first being born
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` Identify basic hazards and describe ways of reducing risks in care setting AO4 PART A Kitchen risks and how it can be reduced The kitchen is a very dangerous place when hazards are recognized‚ also care workers must make sure they keep children out of the kitchen in case they harm themselves. Cookers are very dangerous especially when they left turned on. Cookers must always be turned off when not in use. Cooking pans when in use should have their handles turned
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Recommendation Brief for an Internal Auditor When a company is experiencing difficulty controlling their accounting functions‚ hiring an internal auditor may alleviate some of the problems. Internal auditors may perform a variety of services including operational audits‚ compliance audits‚ and financial statement audits. Additionally‚ an internal auditor can assist in development of internal controls and evaluate the effectiveness of computer systems (Arens‚ Elder‚ & Beasley‚ 2006). A company
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As the convergence of IFRS and GAAP continues to impose new personal and professional challenges on U.S. auditors‚ it also presents new career opportunities for those who embrace the continuous‚ accelerating change that characterizes globalization. U.S. auditors who recognize the opportunities and prepare to take advantage of them have little to fear from the convergence. In contrast‚ auditors who are in denial about the convergence’s inevitable effects face a very different future.
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KEY RISK FACTORS Real estate sector growth would be driven due to a large unmet demand for housing and commercial spaces in the country. Demand side factors are unlikely to act as a key risk to real estate growth‚ unless serious economic downturn occurs. The factors that may hinder the pace of development would most likely be supply side related. Rising construction costs‚ skilled labor‚ shortages‚ project delays and excessive speculation resulting in demand destruction may result in revaluating
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