Negligence Claims Against Accountants & Auditors

Introduction

This webinar is aimed at professional negligence lawyers who are involved in cases of claims against accountants and auditors.

It will explore top tips to identify issues and help you avoid some hidden pitfalls. It takes into account the recent decision in MBS -v- GT and Knights & Townsend Harrison Limited (2021).

What You Will Learn

This webinar will cover the following:

• Scope of retainer - including issues on what to look for when pursuing the claim, has the retainer been extended, is the accountant’s/auditor’s engagement letter clear and the implications for the claim, has the purpose been clarified and the impact on quantum
• Fees for accounting/auditing services - have they been properly explained? Have they been exceeded? And the implications for the claim
• Engagement letter - is there a signed one on the file? A discussion of the terms and effect, and the effect on the claim - common issues that arise
• Cancellable contracts - has the appropriate ‘distance selling’ notice been sent? The potential effect on the claim against the adviser
• Liability caps - is there a cap and where is it in the engagement letter and is it effective?
• Effects of challenge
• Specific issues including:
• Penalties - how to deal with penalty negotiations, the risk of impacting on the professional negligence claim, the impact on the claim of a ‘careless’ penalty and suspended penalties
• Limitation - traps for the unwary
• Audit claims - issues in relation to loss and liability
• Tax schemes and the impact of the Knights case

This webinar was recorded on 31st May 2022