Accountancy professional negligence

The accountant's job is one of great responsibility. Many of us are largely dependent on our accountants to look after our financial best interests and when they fail to do so and breach their duty of care in the process, the results can be economically devastating.

If you have sustained financial loss you believe to be the result of negligence it may be possible to proceed with a professional negligence claim against your accountant.

Registering your complaint

In many cases it may be possible to make a complaint directly with the firm, either by registering it with a senior partner or a specified and appointed individual or department.

In some instances, if you can make a clear and compelling case and the firm is cooperative, it may be possible to obtain adequate redress. However, this is only the case in relatively few circumstances. As such, you may then find it necessary to register a complaint with an official body such as the Institute of Chartered Accountants or the Association of Certified Chartered Accountants, both of these bodies have formal complaints procedures. However, you may find that they offer only limited scope for redress and that it is necessary to instruct a professional negligence lawyer.

Grounds for a claim

There are many possible grounds for a claim, although you must of course prove that you have suffered financial loss and that it was a direct cause of the negligence. Some examples of accountancy negligence are listed below:

  • Negligent tax advice
  • Failure to submit documents on time
  • Failure to register for VAT
  • Failure to detect fraud
  • Failure to detect inconsistencies
  • Negligent calculation of figures
  • Failure to complete a tax return
  • Failure to detect misappropriation of funds
  • Negligent audit

 

Seth Lovis professional negligence lawyers in Central London

If you have suffered negligent tax advice or a similar breach, you may be able to make a professional negligence claim against your accountant. Contact Seth Lovis professional negligence lawyers in Central London for a free consultation.

Further Reading

What is gross negligence?
Accountant professional negligence claims
Relying on negligent investment advice
Insolvency practitioner negligence claims
Tax and accountancy negligence claims
The Caparo Test and assumption of responsibility
Redress for insurance broker negligence
Claims for negligent mortgage advice
London lawyers for insolvency claims
Some facts about negligence claims
Insolvency practitioner claims
Bookkeeper claims
Bank financial negligence claims
Actuary claims

 
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