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Guarding The Guardians: Expanding Auditor Negligence Liability To Third-Party Users Of Financial Information, James W. Zisa

Campbell Law Review

The nature of today's financial information is changing faster than the public user can respond. The public is beginning to rely more heavily on the auditors of this information, imposing upon the professional a level of social responsibility unparalleled by that of prior years. This increasing reliance on the accounting profession is the focus of this Article. This paper will raise and discuss two interrelated issues. First, to whom, if anyone, should an auditor be held liable for negligence in the performance of his professional duties? Second, accepting the current system of legal responsibilities, what is the profession doing to …