Problem: Four major sources of legal liability:
1. Liability to clients
2. Liability to third parties under common law
3. Civil liability under federal securities laws
4. Criminal liability
- Fully examine and present the topic
- Fully compare and contrast the topic to pre and post Sarbanes-Oxley
- Fully explain the impact the topic has on accountants, auditors, and stakeholders in a business or industry
- Relate the topic to a real & likely situation in a business or industry
- Name the business or industry
- The key players involved in the topic/issue
- 3(minimum) possible outcomes & consequences for each