Third party claims against auditors: tackling the growing rise

By Wanda Karow
MFL Professional's technical bulletin - 'Tackling the growing rise in third party claims auditors' is available to download by clicking on the image above.

Wanda Karow, Associate at Mills & Reeve LLP, lists ways to tackle third party claims made against auditors.

We are seeing a growing trend of claims against accountants arising out of audits and tax advice. As businesses have failed during the recession and continue to struggle during these difficult times, people often target professionals with PI cover to recover their losses.

Accountants are no exception. These claims are typically by third party investors in failed businesses claiming to have relied on accountants’ audit or tax advice before investing in the business. How should insurers and their insured accountants tackle these third party claims against auditors? We set out a summary of the law with some practical tips.

To read on, download ‘Tackling the growing rise in third party claims against auditors’, here.

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