Professional Negligence against Accountants
Accountants now embrace a wide range of functions way beyond their origins concerned with book-keeping and the preparation and investigation of accounts.
Now their scope encompasses advisory, investigatory, regulatory, reporting and administrative services. This itself can range from tax advice; company re-organisations; takeovers and mergers; to administering trusts; to dealing with administrations and liquidations.
A large number of cases involving accountants relate to their auditing function. If their duty of care is breached an injured party may sue for their loss.
In the case of a Companies Act audit, the purpose is to provide shareholders with information of the company’s financial position so that they are fully informed at the general meeting; the purpose is NOT to provide shareholders (or anyone else) with information so that they may make investment decisions.
Even so, accountants may have a specific responsibility to a third party if the accountant makes a statement which he knew would be communicated to the client and he knew that the client would rely on the statement when deciding whether to proceed or not.
Professional Negligence advice against Accountants
For help and assistance on queries relating to professional negligence against accountants, contact our professional negligence team on 0161 832 6131 or get in touch by filling out one of our online enquiry forms.
if you have any other queries relating the professional negligence please visit our Professional Negligence page.