What does accountant's liability mean?

accountant's liability meaning in Law Dictionary

n accountant that has been negligent, fraudulant, smashed legislation, or cannot employ the GAAP.

accountant's liability meaning in Business Dictionary

Legal responsibility of an accountant whom (1) is grossly negligent (see gross negligence), (2) will not rigorously use the GAAP, (3) does not follow accounting conventions and auditing standards set up by nationwide and/or intercontinental figures, or (4) commits fraudulence.