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Sir in Jeb fastners ltd v Marks bloom & Co, court did express the view that a duty of care was owed by the accountants to the claimant as they new that a potential bidder would rely on the accounts.However in Caparo case court expressed the view that auditors did not owe duty of care to the claimant .Why is that so?
Because in Caparo the auditors were not aware that Caparo was going to use the financial statements as the basis for their decision to launch a take-over bid
Whereas in Jeb the auditors WERE aware that B and D Fasteners were actively looking for a white knight to coma along and rescue the company
OK?
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