Grant Thornton will not be held liable for an unqualified opinion it issued on the 1999 financial statements of Daw Technologies.

Daw eventually restated the statements due to accounting problems, but the a federal court of appeals recently ruled that the case's plaintiffs, a trio of institutional investors, made no attempt to determine why the accounting firm's opinion was false or misleading.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access