Auditor Liability Throughout the Eighties and into the Nineties the question of liability has become more prevalent in the practice of public accounting. Recently, the AICPA has been lobbying for liability reform in cases involving negligence or malpractice by public accountants. Opposition to this lobbying has come from consumer advocacy organizations, trial lawyers' associations, and state public interest groups to name a few. (Bolinger p. 53) The key to success for the AICPA, according to Gary M. Bolinger is creating an image as a, "profession performing high-quality services but faced with excessive liability burdens that harm the public interest." (Bolinger p.56) One should not be concerned, however, in the pending political outcome, but in weighing the evidence argued by both sides and developing a sound reasonable basis. Theref....

Number Of Pages: 8

Number Of Words: 2100

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