00:02
Hello students, in this question, we have to state which is the false option regarding legal liability.
00:09
So, option a states the ultimate doctor is a legal principle that limits the auditor's liability to third parties.
00:31
It does not necessarily prove the absence of casual connection, but rather it requires a direct relation between parties which exist.
01:07
So, this statement is not entirely accurate.
01:18
Option b, the securities act of 1930 does deal with the reporting requirements of a company issuing new securities.
01:30
So, it deals with reporting requirements for companies issuing new securities, but it also includes other provisions.
01:59
So, this statement is not entirely accurate either.
02:07
So, not entirely accurate either.
02:16
Option c, if a cpa firm claims, if cpa firms claims that there were no implied or expressed contract, it could indeed mean that they are arguing that they had no duty to perform...