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This article critiques Anderson's conclusions about market efficiency and auditors' legal liability under common law.

Market Efficiency and the Legal Liability of Auditors: Comment.

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Critique discusses market efficiency impact on legal liability for auditors, indicating limited effects.

This article critiques Anderson's conclusions about market efficiency and auditors' legal liability under common law.
Analyzed Anderson's 1977 article on market efficiency and legal liability.
Examined legal frameworks relevant to auditors and investors.
Discussed the intersection of common law and federal statutes.
Argues that common law courts may not fully utilize findings from efficient markets research.
Highlights that investor suits are primarily governed by federal law, affecting legal interpretations.
Suggests that knowledge of market efficiency will not significantly change auditors' liability.

III et al. (1983) studied this question.

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