Published 2010
“…This can be seen in the historic English decision of Re Kingston
Cotton Mill Co (No 2) [1896] 2 Ch 673, whereby Lopes LJ stated that “...auditors are watchdogs but not bloodhound…” Additionally, it can be observed in the ingenious statement of Cardozo CJ in the American decision of Ultramares Corporation v Touche (1931) 174 NE 441 whereby he stated that to hold auditors liable results to a case of “…liability of an indeterminate amount for an indeterminate time to an indeterminate class…” In the midst of these legal pronouncements, it is pertinent to determine the liability of auditors under tort in Malaysia, which was distilled in 1967. …”
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