Like attorneys and other professionals, accountants can be sued for malpractice if they fail to provide services at a level expected of a reasonably competent accountant.
There are two common types of accountant malpractice:
Accounting malpractice, like many personal injury cases, can revolve around the issue of negligence: the failure of an accountant to act in a manner expected of a reasonably competent accountant. However, while demonstrating negligence is necessary for a malpractice suit, negligence alone is not sufficient. The plaintiff, party bringing the lawsuit, must show:
Although the concept of accountant malpractice is simple enough, the accountant industry itself is subject to numerous restrictions and regulations which other professionals are not subject to. These regulations come from both the responsibilities of the accountant profession and the mobility of the legal tender they are responsible for. A fraudulent accountant, for example, may place revenue in foreign banks, making the money not only difficult to find but also difficult to recover as the legal system of a foreign country must be considered.
If you have been accused or are the victim of account malpractice consulting an experienced malpractice lawyer can be extremely helpful. A malpractice lawyer can help you understand how the law affects your case and represent you in court.
Last Modified: 09-21-2017 02:44 AM PDTLaw Library Disclaimer
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