accountant's liability |
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Definition
Legal obligation of an accountant who (1) is grossly negligent (see gross negligence), (2) does not rigorously employ the GAAP, (3) does not follow accounting conventions and auditing standards established by national and/or international bodies, or (4) commits fraud.
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accountant's liability is in the Accounting & Auditing and Corporate, Commercial, & General Law subjects.
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