Professional Negligence Claims Against Accountants

It is reasonable to expect that when you use an accountant they will provide sound professional advice and keep your finances in order. However, this is not always the case. If you have received poor advice or suffered financial loss because of their actions, you may be able to claim compensation. In which case, an expert professional negligence lawyer can help you recover your losses.

Has my accountant been negligent?

Some examples of negligence include incorrectly assessing tax liability, making accounting errors, providing incorrect advice, failing to identify tax exemptions, or providing information based on their own personal interest.

There are many other circumstances in which an accountant may have been negligent. If you believe that you may have a claim, you can speak to Shine Lawyers professional negligence team on an obligation free basis.

Making a claim for accountant negligence

To successfully sue an accountant for negligence, you need to prove three things:

Your accountant owed you a duty of care,
They didn’t do their job in accordance with professional standards, and
As a result, you have suffered a financial loss

What is a Duty of Care?

The Accounting Professional & Ethical Standards Board regulates Australian Accountants and states that all member accountants must adhere to the fundamental principles of maintaining professional competence and due care.

They have a duty to act ethically and professionally in accordance with your best interests. In addition, your accountant’s advice needs to comply with the standards of their professional peers and to a standard expected by the law.