Question

The burden of proof that must be proven to recover losses from an auditor under the SEC act of 1934 is generally considered to be____________

Answer 1

To recover losses from an auditor under the SEC Act of 1934, the plaintiff must prove their case by a preponderance of the evidence, showing it is more likely true than not.

Step-by-step explanation:

The burden of proof that must be proven to recover losses from an auditor under the SEC Act of 1934 is generally known as preponderance of the evidence. Unlike the higher standard of “beyond a reasonable doubt” required in criminal cases, the preponderance of the evidence standard means that a plaintiff must demonstrate that it is more likely than not that their claims are true. This standard is less stringent than proving something beyond a reasonable doubt, as it simply requires that the evidence presented by the plaintiff is more convincing and probable in truth than not.