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Accountants' Negligence and Liability

By: Simon Salzedo QC, Tony Singla
Media of Accountants' Negligence and Liability
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Published: 29-09-2016
Format: Hardback
Edition: 1st
Extent: 528
ISBN: 9781780434865
Imprint: Bloomsbury Professional
Dimensions: 248 x 156 mm
RRP : £155.00
 

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Loren Epson

About Accountants' Negligence and Liability

Accounting firms can be held liable for the full amount of losses of a collapsed company even if they are only partly to blame. Accountants' Negligence and Liability is the only title on the market to provide all the information needed fully to analyse potential liability in this field of practice.

It covers statutory and non-statutory audits, tax advice, specified procedures reporting, due diligence reports and corporate finance reporting. It also looks at difficult legal issues including the scope of losses for which the accountant may be liable with detailed reference to case law as well as money laundering and regulatory issues. Limitation and contributory fault are considered with special reference to accountants' cases.

The book is fully up to date, including discussion of the Audit Regulation and the Audit Directive coming into force in June 2016.

Case law coverage is comprehensive. The authors have referred to every significant reported accountancy case in the English courts and included the most important commonwealth cases as well. There is full discussion of the difficult issues in this area of law including the recoverability of trading losses and the defence of ex turpi causa. The significance of Caparo v Dickman is fully explained, as is the controversy surrounding Galoo v Bright Graeme Murray. An original analysis is offered of the interaction of these cases with SAAMCO and of the controversial decision of the House of Lords in Stone & Rolls v Moore Stephens.

Table Of Contents

Part 1 Introductory
Chapter 1 Introduction and general principle
Part 2 Auditing
Chapter 2 The legal framework of auditing
Chapter 3 The regulatory framework of auditing
Chapter 4 Characterising the auditor's relationship with the company and the elements of and defences to a claim for audit negligence
Chapter 5 Caparo: the objects and scope of the auditor's duty of care in tort
Chapter 6 Applications of the Caparo principle
Chapter 7 Breach of duty and the auditor's standard of care
Chapter 8 Scope of auditor's duty – for what losses is the auditor liable?
Part 3 Other liabilities of accountants
Chapter 9 Non-audit liability of accountants
Chapter 10 Conflicts of interest and confidential information
Part 4 Defences
Chapter 11 Policy defences – ex turpi and insolvency
Chapter 12 Limitation
Chapter 13 Disclaimers and exclusions of liability
Chapter 14 Contributory negligence and contribution
Chapter 15 Counterclaims and mitigation of loss
Chapter 16 Statutory relief
Part 5 Issues arising in litigation concerning accountants
Chapter 17 Disclosure
Chapter 18 Expert evidence
Part 6 Disciplinary regimes and money laundering
Chapter 19 Disciplinary regimes
Chapter 20 Money laundering

Reviews

“In a market where there are already established professional negligence texts this book seeks to differentiate itself by providing a comprehensive text focused on accountants. The depth of analysis is far greater than would be found in the auditor's section of a more general professional negligence book...The consideration of Galoo illustrates one of the main advantages of this book. It is very much a practitioner's text and the analysis of Galoo is set out with this objective in mind. It is a rigorous academic analysis but with the practical application of the conclusions rather than as a purely academic exercise...As a specialist practitioner's text it will be well received and well used by those working in this field.” –  James Davies, Journal of Professional Negligence

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