Questions we Can Help you to Answer

Paper Instructions:

As discussed in the opening reflection, MF Global filed a complaint charging PwC with professional malpractice, breach of contract, and unjust enrichment in connection with its advice concerning, and approval of, the company’s off-balance-sheet accounting for its investments. The court’s decision points out that absent PwC’s advice, MF Global Holdings would not have invested heavily in European sovereign debt to generate immediate revenues and would not have suffered the massive damages that befell the company in 2011. Do you believe that auditors should be held legally liable when they advise clients on matters related to the company’s finances that turn out to be wrong? Explain with reference to legal and professional standards.

Your initial post must be in your own words, be a minimum of 450 words in length, and be supported with a reference.