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Arthur Andersen LLP v. United States, 544 U.S. 696 (2005), was a United States Supreme Court case in which the Court unanimously overturned accounting firm Arthur Andersen's conviction of obstruction of justice in the fraudulent activities and subsequent collapse of Enron.
When the borrower defaulted on the loan, Esanda turned to the auditors to recover claiming it had acted on reliance of audited accounts which breached mandatory accounting standards in relation to preparing the accounts and but for this breach of duty by Peat Marwick Hungerford. Central to this argument was that Esanda had suffered a loss which ...
Alice Corp. v. CLS Bank International, 573 U.S. 208 (2014), was a 2014 United States Supreme Court [1] decision about patent eligibility of business method patents. [2] The issue in the case was whether certain patent claims for a computer-implemented, electronic escrow service covered abstract ideas, which would make the claims ineligible for patent protection.
As a general matter, reviewers of the issues of decision uniformity and court diversity take the position that identical sets of facts in a tax case should result in identical court decisions. [17] Reviewers vary on how to achieve that, however. One approach to greater uniformity was taken in the 1943 tax case of Dobson v.
Precedent is a judicial decision that serves as an authority for courts when deciding subsequent identical or similar cases. [1] [2] [3] Fundamental to common law legal systems, precedent operates under the principle of stare decisis ("to stand by things decided"), where past judicial decisions serve as case law to guide future rulings, thus promoting consistency and predictability.
Due to the risk of liability, CPAs and accounting firms may carry professional liability insurance to provide some protection from legal claims and lawsuits, although some firms choose to self-insure. [4] Concerns about high damage awards and insurance costs have led to proposals to limit liability for public accounting firms. [5]
For example, we probably should know who is in charge of the project. There is a person calling himself or herself the ”DOGE administrator” who signs off on paperwork, but no one outside of ...
Price Waterhouse v. Hopkins, 490 U.S. 228 (1989), was a landmark decision of the US Supreme Court on the issues of prescriptive sex discrimination and employer liability for sex discrimination. The employee, Ann Hopkins, sued her former employer, the accounting firm Price Waterhouse. She argued that the firm denied her partnership because she ...