Accountant Negligence And The Role Of Forensic Accountants? - By: Tim Bishop

You have suffered professional negligence. Your accountant's work has not been of the standard of care that you would expect. In consequence, you have been harmed.

You are convinced that things haven't been done properly however you still need to check that the four main elements exist in your claim before you approach a specialist lawyer:

- Will you be able to show that your accountant had a duty of care? Normally the accountant/client relationship is enough establish this.

- Are you sure and can you prove that the accountant has breached that duty of care? In simpler words, the accountant must have behaved in a way that a qualified accountant should not have done and, therefore, he's committed professional negligence.

- Can you show a substantial loss or anticipated loss?

- Is your loss a direct result of the accountant's professional negligence?

Once you have your evidence of accountant negligence, you have to appeal to the Chartered Accountants - Certified Accountants or those who are members of ICA (Institute of Chartered Accountants) - Association of Certified Chartered Accountants (ACCA). Accountant negligence is a matter that doesn't normally follow the straight way to Court. Instead, the case is addressed to one of these professional bodies first.

Now is the time for the professional negligence claim lawyer to step in. They will normally be able to suggest using a forensic accountant who will investigate your case and make sure you are prepared from the start. David Malamed, forensic accountant in Toronto, Ontario describes his job very accurately: "While forensic accountants (FAs) usually do not provide opinions, the work performed and reports issued will often provide answers to the how, where, what, why and who."

In addition to their duties, forensic accountants are trained to look for alternative ways to solve the problems for professional negligence before sending the case to Court. They can assist during the stages of the claim and try different methods for reconciliation like settlement negotiation. A good first step is to talk with a specialised solicitor about your claim and what process is likely to ensue once you begin.

Remember that if you are in the position of claiming professional negligence due to your accountant's malpractice or poor service, a qualified team of professional negligence claim solicitors who are members of the Professional Negligence Lawyers Association, will best support you. It is probable that they will have lots of experience in this area and will get you a specialist forensic accountant.

About the Author

Considering making a professional negligence claim? Bonallack & Bishop are solicitors specialising in accountant negligence claims. Tim Bishop is senior partner at the firm, responsible for all major strategic decisions. He has grown the firm by 1000% in 13 years and has plans for further expansion.

Article Directory Source: http://www.articlerich.com/profile/Tim-Bishop/62652

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