Answer: Ultramares corporation v. Touche established Ultramares doctrine. Hochfelder v. Ernst & Ernst ruled that scienter is required before CPAs can be held liable.
Explanation:
All the options except the above are true. Ultramares corporation v. Touche did establish the Ultramares doctrine.
United States v. Natelli sentenced two CPAs to prison for a year, in addition to fines, for violating the Securities Exchange Act of 1934.
Bily v. Arthur Young did not uphold the restatement doctrine. The restatement doctrine restatement doctrine makes an auditor liable to people who rely on the quality of his work be they his clients or third parties. Two high courts ruled that auditors are not liable to third parties who use their work but only to the party that contracted their work.
However, Hochfelder v. Ernst & Ernst ruled that an allegation of scienter (an intention to deceive) is not required before CPAs can be held liable as long as the actions constitute actual deception.
While rule 10b-5 of the Exchange Act states the presence of scienter as a requirement to commit an offense, the court ruled against the statute by eliminating the Scienter clause from criminal statute and ruled against Ernst & Ernst.
The correct answer is A=executive Branch, B =judicial branch
The Executive has the function of governing the people and administering the public interests, in accordance with the laws provided for in the Constitution.
The function of the judiciary is to guarantee individual, collective and social rights and to resolve conflicts between citizens, entities and the state. For this, it has administrative and financial autonomy guaranteed by the Constitution.
Because 1 divided by 1 is still 1
<u>Answer</u>:
A. Concurring opinion
<u>Explanation</u>:
In law, a concurring opinion is in certain legal systems a written opinion by one or more judges of a court which agrees with the decision made by the majority of the court, but states different (or additional) reasons as the basis for his or her decision.
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A cloud of gas and dust in outer space, visible in the night sky either as an indistinct bright patch or as a dark silhouette against the other luminous matter
