The 1136 Tenants’ case was important because of its emphasis upon the legal liability of the CPA when associated with:

(1) A review of annual statements.
(2) Unaudited financial statements. - The 1136 Tenants case was a landmark case concerning auditors' liability when they are associated with unaudited financial statements.
(3) An audit resulting in a disclaimer of opinion.
(4) Letters for underwriters.