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July 12, 2018Journal of Accounting and Auditing Research & PracticeOpen Access

Auditors’ Liability and Investors’ Protection in Canada: The ‘Leaky Umbrella’

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Abstract

In the spring of 1997, the Supreme Court of Canada (“Court”) rendered a decision in Hercules Managements Ltd. v. Ernst & Young [1997] (“Hercules”) that left shareholders out in the cold. Ever since the verdict in Hercules was released, the audit profession has been shielded from being held liable to third parties in cases of negligent misrepresentation.

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Mark Lokanan (2018) studied this question.

synapsesocial.com/papers/6a2202463b8e99975a4ea3f2 https://doi.org/10.5171/2018.722196

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