Which of the following is false regarding legal cases discussed in text?
- Bily v. Arthur Young did not uphold the restatement doctrine.
- United States v. Natelli sentenced two CPAs with criminal liability under the 1934 act.
- Ultramares corporation v. Touche established Ultramares doctrine.
-Hochfelder v. Ernst & Ernst ruled that scienter is required before CPAs can be held liable.
The Engagement letter explains management and auditor responsibiltes.
--True
--False