ABSTRACT
It will be remembered that in our issue of the 23rd ult. we placed before our readers a full report of the judgment of the Court of Appeal in this case, and commented at some length upon the decision and its possible effects, while in our last issue we pointed out that, in spite of this decision, it was desirable that auditors should do all that lay in their power to render their audit the most effective possible under the circumstances of each individual case. We have now to consider the manner in which this judgment has been received by these of our contemporaries who represent either the financial interest or the general public, for although these views are perhaps of little importance as throwing any real light upon the exact extent and limitations of the decision in question, yet they are of the greatest possible value to accountants, as showing the opinion of outsiders as to the general scope and value of an audit.
