Accounting Malpractice

The negligence of an accountant is actionable when he or she breaches a duty of care owed to a client while performing accounting services, causing the client to suffer damages. An accountant who is hired to provide services for personal and/or business accounts can be held liable if the accounting services fall below the standard of care. Accountants should follow Generally Accepted Accounting Principles (GAAP) and Generally Accepted Auditing Standards (GAAS) when providing services and any breach of those standards means that they will likely be held responsible for any damages caused by the breach. Potential plaintiffs include individuals, as well as businesses, shareholders, and estates.

Some examples of accounting malpractice include negligent tax advice that results in unnecessary fines and penalties by the individual or business, evaluations or reports that are inaccurate either inadvertently or purposefully, and failure to properly audit financial statements. To prevail in a negligence case against an accountant, the plaintiff must prove by expert testimony that the accountant failed to provide the level of professional service customary in the community.

Case Study

John Frye of our office recently handled an accounting malpractice case filed by more than 70 individuals and businesses against a major accounting firm involving allegations of fraud and negligence. We aggressively litigated this matter and were able to obtain a settlement of over $10 million dollars for our clients.

It is important to consult with an experienced accounting malpractice attorney as soon as you suspect that you have been harmed by an accountant’s negligence. Contact the attorneys at Galine, Frye & Fitting to discuss your potential accounting malpractice case.

Client Reviews
  • ★★★★★
    I retained Ilya Frangos of Galine, Frye & Fitting on a business litigation matter involving a frivolous lawsuit filed in federal court. Ilya guided me through the case and helped make sure that I understood the process… He always took the time to answer all my questions and helped put my mind at ease. I would highly recommend him and this firm!
  • ★★★★★
    I called Mr Frye after my wife had passed away… John listened to my case over the phone, after aggreeing to represent me, handled everything from there… I have already recommended Mr Frye to a friend for help with a similiar case and would without reserve recommend him to anybody. He came highly recommended as an expert in these type cases, and I believe he demonstrated this personally.
  • ★★★★★
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  • ★★★★★
    A great experience. Excellent law firm which treats their client's with the utmost respect. Very knowledgeable and made me fell extremely secure when handling my personal injury claim. Would highly recommend Galine, Frye and Fitting to handle your next case.
  • ★★★★★
    I was fortunate enough to have been represented and retained by this law firm for my injuries sustained by an under insured motorist. I must say Chantel Fitting, Illya Frangos and Kimberly Levy went above and beyond trying to resolve my case… I would highly recommend this law firm and stop shopping around if you are looking for the best, as this is as good as it gets.