1. Which of the following is not required for establishing an auditor's liability for negligence?
A. A duty was owed to the client.
B. A causal connection between the auditor’s negligence and the client’s damage
C. An undetected material misstatement.
D. Actual loss or damage to the client
2. The Securities Exchange Act of 1934
A. established a voluntary disclosure mechanism for issuers of publicly traded securities.
B. primarily relates to initial sales of securities to the public.
C. regulates all sales of securities.
D. regulates documents filed with the SEC by companies whose securities are traded on a stock exchange.