[rbozung]

Hey all. Just when I think that I have mastered the CPA’s liability under the SEC Act, I am given an exam question that covers a different section (11, 18, etc.). So far I have seen rule 10b and 10b-5, Sections 11, and 18, common law, and differences between 1933 and 1934. I am having a hard time keeping track of what is necessary for the plaintiff to prove in a case against a CPA that audited financial statements for an IPO (1933) and post IPO (1934) (i.e. scienter, reckless negligence, reliance, material misstatement, etc.). Has anyone mastered this topic in a way that they can easily organize what is required to prove liability under the different sections/rules/common law?

Thanks ahead of time!

BEC - Passed
AUD - Passed
FAR - 10/28/14 (waiting results)
REG - Passed

[Anonymous]

If you do well on the test bank questions for this section, you should be ok.

[Author]

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