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- Title
ACCOUNTANTS' MALPRACTICE .
- Authors
Banks, Warren E.; White, Jackson A.
- Abstract
Discusses the United States Supreme Court decision in the Ernst & Ernst v. Hochfelder accountants' malpractice case. Details of the case, which involved the allegation that Ernst & Ernst aided and abetted a fraudulent scheme by First Securities Co. by failing to conduct a proper audit; Review of third-party common law liability; Details of the opinion of the court; Dissenting opinion; Conclusion that this case stands as a major victory for accountants in that it apparently precludes the filing of a successful 10(b) aiding and abetting charge in the absence of an allegation of fraud.
- Subjects
UNITED States; ERNST &; Ernst v. Hochfelder (Supreme Court case); UNITED States. Supreme Court; ACTIONS &; defenses (Law); AUDITING; FRAUD laws; CASE studies; CORRUPTION
- Publication
American Business Law Journal, 1977, Vol 14, Issue 3, p411
- ISSN
0002-7766
- Publication type
Article