The best approach for our analysis is to start with the seminal case on privity in the accountants' liability context. Chief Judge Benjamin Cardozo in Ultramares Corporation v. Touche et al. addressed ...

There is currently a slowdown in claims brought against accountants that is largely due to the strong economy, according to CPA-attorney Richard Witkowski, who specializes in professional liability ...

In February, the U.S. Court of Appeals for the Second Circuit reversed a lower court decision and held a closely held corporation's auditor primarily liable under Sec. 10(b) of the Securities Exchange ...

CPAs offering broad services take steps to reduce exposure to lawsuitsA down economy and a desire to find a financial scapegoat when deals go sour has some treating accountants as giant targets  and ...

An attorney represents a seller in a transaction but the buyer is not represented, wherein the attorney has to provide information to the buyer. An accountant is retained to prepare audit the finances ...