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 accounting 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 thoroughly investigate and expertly 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 and can vary widely by the type of industry or organization as well as geographic location (private industry standards vs federal standards vs state and local accounting standards). We have the knowledge and experience to analyze procedures performed by the CPA as required by all professional standards pertinent to the claim, then 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.
For nearly 25 years now, I’ve been exhorting CPAs to take seriously their responsibility to detect fraud during an audit—or face the potentially ruinous financial and reputational consequences of accountant malpractice claims. Sadly, many audit firms and CPAs have yet...
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