As a full-service firm we are able to advise and act as experts in relation to professional negligence claims involving audit, accounts preparation and bookkeeping, corporate finance and due diligence, forensic accounting and personal and corporate tax advice.
Our Forensic accounting team works closely with specialists from across the firm to ensure we provide clients with accurate advice from those ‘in the field’ on a daily basis whilst also enabling them to benefit from our extensive experience of disputes and acting as an expert witness.
We quantify losses arising from negligent accountancy advice on behalf of both claimants and insurers defending professional negligence claims.
In addition to accountancy negligence cases we have also quantified losses in a range of other professional negligence cases involving IT professionals, solicitors and patent attorneys.
Professional negligence of company accountant’s failure to identify fraud
Advising a company considering bringing a professional negligence claim against two sets of accountants for failing to identify a fraud being perpetrated by the company’s bookkeeper. A total of £1.5 million was extracted from the company over a four year period. We used the information available to assess at what point the accountants should have identified the fraud and quantified the losses that could have been saved had they not been negligent.
Provision of negligent advice by company accountants
Acting as the expert to comment on the alleged negligence of a firm of accountants in relation to a dividend distribution scheme recommended to their client in contravention of tax legislation. Having followed the advice provided by their accountants the client was required to make significant PAYE payments and faced penalties for underpaid tax. We identified a number of failings in the actions of the accountants.
Negligent implementation of IT system
Quantifying the losses suffered by a company providing soft skills training following the allegedly negligent implementation of a cloud based computer system. The losses arose as a result of the destruction of a significant volume of training materials, a client database and training records which had to be available for inspection by the local authority. Following our involvement the claim settled for a significantly greater sum than had originally been offered by the IT company.
Provision of negligent tax advice
Advising an individual in relation to whether the tax advice provided on international business structuring was negligent and calculating the loss suffered and the extent to which alternative arrangements could have mitigated the additional tax, interest and penalties which arose from an HMRC enquiry.