A rise in professional negligence claims

There was a significant rise in the number of
professional negligence claims in the UK against accounting firms
last year according to law firm Reynolds Porter Chamberlain LLP
(RPC).

There were a total of 13 negligence claims
against accountancy firms last year, compared with 0 for the last
two years and four in the past five.

Negligence claims against accountants have
included failure to spot fraud when auditing, over-valuing company
assets and tax advisers negligently miss sold schemes designed to
mitigate or defer income or capital gains tax.