Accountants' Liability for Unaudited Historical and Prospective Financial Statements

Authors

Andrew L. Kozlowski

Library of Congress Authority File

http://id.loc.gov/authorities/names/n79122466

Document Type

Comments

Abstract

The dramatic increase in the use of non-audit services is posing an increased litigation burden on the accountant. In negligence actions concerning non-audit services, courts have been reluctant to fully accept the profession's internal guidelines as recognized standards of care. Certain courts have also taken an expansive view, holding accountants liable to virtually all third parties. This Comment advocates that the courts fully adopt the standards of care outlined by pertinent AICPA pronouncements. Courts should also restrict accountants' liability for non-audit services to third parties who are in privity with the accountant.

Recommended Citation

Andrew L. Kozlowski, Accountants' Liability for Unaudited Historical and Prospective Financial Statements, 25 San Diego L. Rev. 757 (1988).
Available at: https://digital.sandiego.edu/sdlr/vol25/iss4/4