Auditors are routinely named in suits by disgruntled clients or third parties. Given the costs involved in defending against lawsuits, the auditor needs to be aware of the applicable legal liabilities and how to mount a robust defense. In the Guide to Auditor Legal Liability course, we examine the sources of legal liability for the auditor, the arguments that plaintiffs will rely upon when bringing suit, and how to defend against them. We also address a number of risk mitigation tactics that may reduce the risk of being targeted by lawsuits.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Recognize the different types of fraud that can be applied to the actions of an auditor.
Specify the different interpretations of auditor liability.
Recognize the nature of and liabilities imposed by the different federal securities laws.
Specify how to use due professional care as a defense.
Major Topics
The Reasons of Plaintiffs
Common Law Liability
Statutory Law Liability
Criminal Liability for Auditors
Auditor Risk Mitigation\
