Is Compliance with the Auditing Standards a Complete Defence Against

Multiple Choice

Is compliance with the auditing standards a complete defence against auditor negligence? ?

A) Yes, the courts have determined that failure to comply with the standards is a necessary precondition for a negligence action to be successful.
B) No, the courts could determine that public interest could require an auditor to go beyond the requirements of the auditing standards.
C) Yes, legislation contains "safe harbour" provisions (protections) for auditors that comply with the auditing standards.
D) No, the auditing standards are not recognized at law.