Accountants and actuaries

Accountants and actuaries

The general trend recently has been for a decline in the number of claims advanced against accountants alleging negligent advice, certainly when compared with the volume of claims made against solicitors for example. The claims that do arise however are of increasingly high value. It is perhaps for this reason that much attention is being focused on the Company Law Reform Bill which introduces wording to allow exceptions to S.310 Companies Act 1985. That section makes void any attempt by an auditor to exempt himself from liability in relation to a company or obtain an indemnity from the company. The recently published draft clauses for the Bill have produced substantial debate and only time will tell what the final form of the provisions will be and how effective accountants’ attempts to restrict liability to audit checks will be.

We have substantial experience of accountancy-related disputes including those involving audit, tax advice, JDS and DTI investigations, actuarial advice, valuations and regulatory-related issues. We recognise the paramount importance of assessing the strengths and weaknesses in any dispute at an early stage – and in developing the best strategy for achieving the solution.

We have defended large (including Big Four names), medium and small firms in litigation. The unit is equally attuned to the needs of each. The range of work with which we have been involved includes “profile” litigation (BCCI, Polly Peck, Barings, Maxwell) and extends to volume claims arising from the ACCA Scheme.

Key contacts:

Richard Highley
020 7293 4574
rhighley@dac.co.uk

William Allison
020 7293 4629
wallison@dac.co.uk