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Tort of negligence/Accountants

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA LW Exams › Tort of negligence/Accountants

  • This topic has 1 reply, 2 voices, and was last updated 6 years ago by MikeLittle.
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  • April 1, 2016 at 10:15 am #308786
    determined016
    Member
    • Topics: 24
    • Replies: 4
    • ☆

    Good day Sir,

    Seeking some clarity on how the court applies negligence to an auditor/accountant…..is it the general rule that auditors/accountant are not considered to be negligent in a case where reports are used for investment, bidding, and or purchasing of a company?

    1. If not, what is the general rule? if there is one.
    2. If that’s the general rule what are the exceptions if any?

    Thank you.

    April 1, 2016 at 11:40 am #308791
    MikeLittle
    Keymaster
    • Topics: 26
    • Replies: 22830
    • ☆☆☆☆☆

    That IS the general rule. The exception is where the auditor KNEW that their report was to be used for that purpose or the auditor was in a contractual relationship with a prospective investor (unlikely)

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