how does the securities act of 1933, which imposes civil liability on auditors for misrepresentations or ommisions of materials facts in a

how does the securities act of 1933, which imposes civil liability on auditors for misrepresentations or ommisions of materials facts in a registation statement, expand auditors liabiltiy to purchusers of securitities beyond that of common law A) purchasers only have to prove loss cuased by reliance on audited financial statementsB) privity with purchasers is not a necessary element of proofC) purchasers have to prove either fraud or gross negligence as a basis for recoveryD) auditors are held to a standard of care desribed as "professional skeptisim"

Solution:How does the securities act of 1933, which imposes civil liability on auditors formisrepresentations or ommision of materials facts in a registration statement,expand auditors liability...