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Alex Esquire
Alex Esquire, Attorney
Category: Business Law
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There are no accountants on the board of the Oriole Corporation,

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There are no accountants on the board of the Oriole Corporation, a privately held corporation. The board routinely relies on a Certified Public Accountant (CPA) to explain the financial situation of the corporation. The board does not do an independent analysis of the CPA’s report. In these circumstances, the board is

A. violating a duty of loyalty
B. violating a duty to exercise due care
C. violating the business judgment rule
D. not violating any duty
Submitted: 4 years ago.
Category: Business Law
Expert:  replied 4 years ago.
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