ACCOUNTING MALPRACTICE CLAIMS
Our expertise in accounting and financial reporting is invaluable when alleged accounting malpractice stems from fraud not uncovered by CPAs or by failures of CPAs to follow professional standards. Some examples of malpractice claims include:
- Fraud schemes that were not uncovered in a financial statement audit or review
- Fraud schemes that were not uncovered in a compilation engagement
- Failure to follow professional standards
- Failure to comply with regulatory procedures
- Failure to uncover or properly disclose conflicts of interest
- Fraud committed by the accountant
- Negligence and/or gross negligence
Our services, which leverage accounting and auditing knowledge with forensic investigative techniques, include:
EARLY CASE ASSESSMENT
We assess accounting malpractice allegations to advise plaintiffs or defendants if the allegation represents a viable claim. Our recommendations are usually instrumental in the decision to pursue or settle a claim for malpractice.
COMPLIANCE WITH STANDARDS
Professional accounting standards are complex. We have the knowledge and experience to analyze procedures performed by the CPA as required by professional standards, then to offer an expert opinion on compliance and non-compliance with those standards.
EXPERT WITNESS TESTIMONY
The ability to explain complicated financial concepts and standards to a trier of fact is one of our unique talents. We have vast experience serving as expert witnesses in accounting malpractice litigation.
Accountant malpractice claims have been a growth industry for litigators for more than two decades, thanks to increasingly strict professional standards for auditors and accountants. And there’s no letup in sight. In fact, even in 2020, with the coronavirus...
CPAs, especially those in smaller accounting practices, usually have close relationships with their clients—and rightfully so. After all, who else is better positioned to understand clients’ finances and businesses than their trusted accountants? That is until they...
Originally published by ACFE Insights. Smart people commit fraud every day. A recent case gives us a prime example. A federal judge asked Donald Watkins, Sr. to step away from the jury box as Watkins, Sr. made an impassioned plea in his closing argument. Watkins, Sr....