Professions: Accountants

In our experience, the common claims against small to medium-sized firms of accountants include those relating to:

• Failure to carry out audits properly and, for example, not detecting errors in accounts or poor management systems.
• Errors in annual accounts prepared on behalf of clients, including overstating or understating creditors.
• Missing time limits, such as those for the preparation of accounts or the filing of tax returns by the appropriate dates.
• Giving incorrect advice on VAT liability.
• Negligent advice on tax liability arising from a specific business transaction.
• Not acting in accordance with the client's instructions when negotiating with a third party such as the Inland Revenue.