In the Case of Deloitte & Touche V Livent Inc

Multiple Choice

In the case of Deloitte & Touche v Livent Inc (Receiver of) (Livent) ,how did the court limit the liability of auditors for errors in audited financial statements?

A) The court held that auditors are liable to anyone who relies on the audited financial statements.
B) The court held that only shareholders may sue the auditors in the event of carelessness in preparing the audited financial statements.
C) The court held that the auditor's liability was limited to the specific purpose of its engagement.
D) The court held that auditors may only be sued by investors for errors in the audited financial statements.