Accountants' Malpractice Defense
Whether based upon financial reporting, tax work, or business consulting, we are experienced in handling all types of liability claims against accounting professionals. Our clients range from sole practitioners to large regional accounting firms, both insured and uninsured. Our ability to meet the demands of both accounting professionals, and their insurance carriers, enables us to handle the most challenging cases.
Accounting claims are, by their nature, often technical. To effectively defend such claims, whether based upon accounting or auditing deficiencies, breach of fiduciary duty, conspiracy, failure to detect embezzlement and defalcations, poor tax advice, or errors in providing consulting services, we recognize that a lawyer must not only be intimately familiar with the applicable law, but understand the language of accounting and the standards that guide the accounting industry. We keep updated on changes in GAAP, GAAS, and relevant tax laws necessary to best defend our clients.
We litigate cases in the state and federal court systems, at both the trial and appellate levels. Recognizing that not all clients have the same defense philosophy, we work closely with our clients to insure their goals are met in the most cost-efficient manner. Because each claim is different, we utilize our skill and experience to thoroughly analyze the liability and damages aspects of a claim early in the case to formulate a resolution plan acceptable to the client. Whether it be through motion practice, negotiation, mediation, or another creative method, when possible, we seek an early resolution of the claim. However, since not every claim can be quickly resolved, our attorneys are skilled in the discovery process and aggressively investigate all aspects of the claim to prepare the matter for trial. We have the reputation of being zealous advocates for our clients in the courtroom, with the ability to simplify even the most complex cases, enabling the jurors to understand them and return the appropriate verdict.
We believe many claims can be avoided by appropriately managing the risks of the accounting profession. A key component of our practice is counseling accounting firms on loss prevention strategies, including the proper use of engagement letters and client contracts, file management and conflict checks, and professional liability policies and coverage issues. We assist accountants when subpoenaed as witnesses and/or custodians of records in third party litigation as these are often, but not always, precursors to a claim. We also represent accounting clients before the New Jersey State Board of Accountancy.