Under the Securities Act of 1933, if damages were incurred and there was a material misstatement or omission in the financial statements, the CPA will most likely lose the lawsuit unless:
a. The damages were incurred to a third party that was not a signatory to the contract
b. The management intentionally deceived the auditors
c. The CPA rebuts the allegations
d. The CPA can shift the burden of proof to the investors
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