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Duty of care

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA LW Exams › Duty of care

  • This topic has 1 reply, 2 voices, and was last updated 8 years ago by MikeLittle.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • September 20, 2017 at 10:15 pm #408140
    accaed
    Member
    • Topics: 23
    • Replies: 0
    • ☆

    Do auditors/accountants have a duty of care to the individual shareholders of a company (who may rely on the statements to increase shareholdings etc.)?

    September 21, 2017 at 7:16 am #408153
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23368
    • ☆☆☆☆☆

    Absolutely NO, NO, NO

    Life as an auditor would be intolerable and very expensive (in terms of lost law suits)

    Don’t forget that when you buy shares, someone else is selling them

    So it’s a two edged sword … you’re caught both coming and going

    No, please instantly get that idea out of your head and lock it away with your Jumanji game

    OK?

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  • The topic ‘Duty of care’ is closed to new replies.

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