What is accountant negligence?
Accountant negligence occurs when an accountant fails to perform their duties to the standard expected of a reasonably competent professional, leading to financial loss or other harm to their client. This can include errors in financial reporting, incorrect tax advice, or failure to adhere to regulatory requirements.
Can I sue my accountant for negligence?
Yes, you can sue your accountant for negligence if their substandard service has caused you financial loss. To make a successful claim, you must prove that the accountant owed you a duty of care, breached this duty by failing to meet professional standards, and caused you a direct financial loss as a result.
Professional negligence - accountants
There are a number of reasons why someone might be suing an accountant for negligence, including:
- Missed deadlines
- Failure to spot important issues in an audit (fraud)
- Overvalued/undervalued assets
- Negligent tax advice
All of the above are examples of how an accountant can be negligent towards their client, resulting in a financial implication.
If you feel you have been treated negligently by an accountant contact us to discuss your situation on 01616 966 229 or complete our online enquiry form.
What is an example of accountant negligence?
An example of accountant negligence includes providing incorrect tax advice that results in substantial penalties from HMRC. Other examples include failing to detect fraudulent activities, errors in financial statements, or not adhering to filing deadlines, leading to fines and financial losses for the client.
Grounds for professional negligence claims against accountants
There are several grounds on which you can base a professional negligence claim against an accountant:
- Incorrect tax advice: Providing wrong or misleading tax advice that leads to financial penalties.
- Errors in financial statements: Failing to prepare accurate financial statements, resulting in financial losses or legal issues.
- Missed deadlines: Not filing documents on time, leading to fines or other penalties.
- Failure to detect fraud: Neglecting to identify fraudulent activities within a company, causing significant financial harm.
- Inadequate professional advice: Giving poor advice on financial matters that leads to detrimental business decisions.
Can accountants be liable for negligence?
Yes, accountants can be held liable for negligence if they fail to perform their duties to the expected professional standard, resulting in financial loss or other harm to their clients. Accountants have a duty of care to their clients to provide accurate and timely financial advice, prepare correct financial statements, and comply with all relevant legal and regulatory requirements.
Our expertise
At Stephensons Solicitors LLP, we have extensive experience in handling professional negligence claims against accountants. Our dedicated team of solicitors is skilled in navigating the complexities of these cases, providing clear and practical advice to secure the best possible outcomes for our clients. We understand the profound impact that accountant negligence can have on individuals and businesses and are committed to helping our clients recover their losses.
Why choose Stephensons for accountant negligence claims?
- We are recognised by the Legal 500, our team has a history of successfully handling professional negligence claims.
- We prioritise your needs, offering tailored advice and support throughout the claims process.
- Our solicitors are highly knowledgeable in professional negligence law, ensuring your case is managed with the highest level of expertise.
- From initial consultation to final resolution, we provide comprehensive support, keeping you informed at every stage.
- We discuss various funding arrangements, , to make the legal process accessible to you.
How do I take action against an accountant?
To take action against an accountant, gather all relevant evidence of negligence, consult a specialist solicitor to assess your case, and file a formal complaint with the accountant’s professional body or initiate legal proceedings for compensation.
Contact us
If you believe you have a claim for accountant negligence, contact Stephensons today, our experienced team is ready to assist you in navigating the complexities of your claim and securing the compensation you deserve. Call us on 0161 696 6178 or complete our online enquiry form to schedule a consultation.
