When an independent accountant's report is included in registration statements, proxy statements, or periodic reports filed under the federal securities statutes, the accountant's responsibility, generally, is in substance no different from that involved in other types of reporting. However, the nature and extent of this responsibility are specified in some detail in these statutes and in the related rules and regulations.
American Institute of Certified Public Accountants. Auditing Standards Board, "Filings under federal securities statutes" (1981). Statements on Auditing Standards. 36.