ACCOUNTANTS PROFESSIONAL NEGLIGENCE CLAIMS

There are a number of finance, banking and accounting professional bodies in Australia that support their members in their professional duties by career development and the provisions of market information. Some of these bodies which include the Institute of Chartered Accountants in Australia (ICAA), the Institute of Internal Auditors (IIA) and CPA Australia also assist members of the public however none of these associations are able to fully deal with compensation claims for losses arising out of an accountants professional negligence which in general terms is a matter for the courts rather than internal disciplinary proceedings.

Bookeepers

Non qualified bookkeepers are also sometimes employed by businesses seeking a less rigorous approach to their finances and are often employed in house. The main professional body for bookkeepers in Australia is the Association of Accounting Technicians (AAT) and notwithstanding that bookkeepers and technicians are not qualified, legal action can still be taken against them for compensation for losses caused by their negligent actions.

Direct Financial Loss

There are well in excess of 100,000 practicing accountants at a professional level in Australia with rising demand and a serious shortage of skilled, qualified people. It is not surprising therefore that accountancy work is not infrequently dealt with in a less than satisfactory manner giving rise to allegations of accountants professional negligence which occurs when work is carried out that does not reach a reasonable standard of skill and care resulting in direct financial losses to the client.

Specialist Solicitors

We deal with compensation claims involving losses that have been sustained or are likely to be sustained in the foreseeable future. We are unable to deal with complaints against accountants and bookkeepers that relate to poor service, bad attitudes or inadequate procedures, that do not result in financial losses. If you have lost money as a result of an accountants professional negligence we may be able to help you to recover your losses or potential losses. We would typically advise obtaining a report from a qualified forensic accountant to identify areas of negligence and the amount of loss before taking the matter further. Our experts will be able to provide evidence on liability and will deal with an assessment of professional competence. If you would like to speak to a specialist lawyer and obtain free advice without further obligation just use the contact form or email.