COMMERCESTUDYGUIDE

Manager of the company Customer of the company Shareholder of the company Employee of the company Answer 4. Employee of the company

Auditor’s liability Assistants’ liability Employer’s liability Government’s liability Answer 1. Auditor’s liability Explanation The liability of assistants’ negligence in audit is Auditor’s liability because the auditor is directly answerable to the client for any nigligence done in the audit whether it is done by him or his assistants