Accountants carry out a wide range of work including auditing, taxation advice, advice on business structures, the preparation of accounts and tax returns, financial planning. Accountants like other professionals owe a duty of care to their clients. If your accountant has failed to provide a level of service which would be expected from a competent accountant you may well have a claim. There is however a difference between poor service and negligent advice.
Most accountants are regulated by one of two professional bodies. The Association of Certified Chartered Accountants (ACCA) regulate Certified Accountants whilst the Institute of Chartered Accountants in England and Wales (ICAEW) regulate Chartered Accountants. If you have a minor complaint about poor or inadequate service which you believe falls short of negligence then you can refer a complaint to them Both of these bodies have formal complaints procedures designed to help people who feel they have been badly advised by their accountants to make a complaint. These complaints procedures are designed to deal with most minor accountant negligence issues you might run into if you are dealing with an accountant.
If you don’t feel that these complaints procedures have dealt with your accountant negligence issue, then you should consider suing an accountant for professional negligence.
There are a number of reasons why you might want to claim. Claims for accountant negligence may result from:
- Incorrect or negligent tax advice
- Failure to register for VAT
- Failure to take into account specific facts which would have invalidated their advice
- Failure to complete a tax return, which resulted in late penalty charges
- Failure to detect fraud or misappropriation of funds
- Negligent preparation of an audit report or overvaluation of company assets
If you consider that your accountant has provided you with advice which falls below the required standard and you have suffered loss you may be entitled to compensation.
If you have suffered loss as a result of negligent advice call us now on 0333 577 5677 or use the contact form and we will resolve your claim.
What our clients say
Just a note to thank you for dealing with my negligence claim. Your advice throughout was very clear and the regular updates were always appreciated. The outcome exceeded my best expectations.
Mr Austen, Plymouth