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Audits Auditors Negligence

BakerHostetler

SEC Approves PCAOB’s Rule Expanding Contributory Liability

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For nearly two decades since its enactment in 2005, PCAOB Rule 3502 prohibited any “person associated with a registered public accounting” firm from taking or omitting to take an action knowingly or recklessly in a way that...more

DLA Piper

SEC Approves PCAOB Rule Amendment That Expands Individual Auditor Enforcement Liability

DLA Piper on

The Securities and Exchange Commission (SEC) approved a proposed amendment to Public Company Accounting Oversight Board (PCAOB) Rule 3502. The amended rule expands enforcement liability for associated persons who...more

Hogan Lovells

Auditors’ liability – English case casts doubt on effectiveness of disclaimers in negligence actions

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A recent English case may cause concern amongst Hong Kong auditors hoping to protect themselves from liability towards third parties by the inclusion of standard disclaimer wording in their engagement agreements. The decision...more

Orrick, Herrington & Sutcliffe LLP

English High Court Sheds Light on the Scope of an Auditor’s Duty in Ickenham Travel Group Limited v Tiffin Green Limited

The High Court recently dismissed a claim by Ickenham Travel Group Limited (ITG) against its former auditor, Tiffin Green Limited. The decision sheds light on how English courts are likely to approach audit negligence...more

Winstead PC

Federal Court Holds That Texas Does Not Have An Independent Aiding And Abetting Claim For Breach Of Fiduciary Duty But Holds That...

Winstead PC on

In Taylor v. Rothstein Kass & Co., PLLC, a receiver for a failed business sued an accounting firm for various claims arising from the auditor’s issuance of a clean audit report concerning certain financial statements. No....more

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