Businesses and individuals rely on accountants for accurate financial advice, tax compliance, financial reporting and professional guidance. When an accountant fails to provide the appropriate standard of professional care, the financial consequences can be significant. If you have suffered financial loss because of an accountant’s negligence, you may have grounds for an accountancy negligence claim in Ireland. Our experienced professional negligence solicitor in Galway can assess your circumstances, explain your legal options and advise you on whether you may have a claim.
What Is Accountancy Negligence?
Accountancy negligence may arise where an accountant fails to exercise the level of skill and care reasonably expected from a competent professional, resulting in financial loss to their client. Examples may include errors in accounts or financial statements, incorrect tax advice, missed tax filing deadlines, failure to identify financial irregularities, inadequate financial advice or failure to properly advise a client about important financial obligations.
Not every mistake made by an accountant will amount to negligence. To pursue an accountancy negligence claim, it is generally necessary to establish that the accountant owed you a duty of care, that the appropriate standard of professional care was not met, and that this failure caused you loss or damage.
When Might You Have an Accountancy Negligence Claim?
The circumstances giving rise to accountancy negligence claims in Ireland can vary considerably. For example, a business may suffer financial loss because an accountant failed to identify an error in its accounts, provided incorrect tax advice or failed to complete important filings within the required timeframe.
An individual may also have a claim where they relied on professional accounting advice and subsequently suffered financial loss as a result of negligent advice or services. The nature and extent of the loss will be important when assessing a potential claim. Depending on the circumstances, losses may include additional tax liabilities, penalties, professional costs, lost business opportunities or other financial losses that can be linked to the alleged negligence.
How Is an Accountancy Negligence Claim Assessed?
A professional negligence solicitor will typically examine the relationship between you and the accountant, the services that were provided and the advice or work that was carried out. Relevant documents may include engagement letters, financial statements, tax returns, correspondence, invoices and records of advice provided by the accountant.
It may also be necessary to obtain expert evidence to determine whether the accountant’s conduct fell below the appropriate professional standard and whether that conduct caused the financial loss. The precise circumstances of each case are important. A financial loss occurring after professional advice does not automatically mean that the accountant was negligent.
What Should You Do if You Suspect Accountant Negligence?
If you believe that your accountant has made a serious error or provided negligent advice, keep all relevant documentation and correspondence. Avoid deleting emails, financial records or other communications that may help establish what advice was given and what actions were taken.
You should also consider seeking legal advice as soon as possible. Accountancy negligence claims are subject to legal time limits in Ireland, and the applicable limitation period can depend on the particular facts of the case. An experienced accountancy negligence solicitor can review the circumstances, identify the relevant issues and advise you on whether further investigation or a claim may be appropriate.
How Can an Accountancy Negligence Solicitor Help?
If you have suffered financial loss because you believe your accountant failed to provide an appropriate standard of professional care, you may have grounds for an accountancy negligence claim. Our professional negligence solicitor in Galway advises individuals and businesses on potential claims arising from negligent professional advice or services.
We can review the available documentation, explain the legal issues involved and advise you on the most appropriate next steps based on your individual circumstances.
Contact Kerrigan Solicitors
If you believe you have suffered financial loss because of accountant negligence, our experienced professional negligence solicitor is here to help.
We provide clear, practical legal advice to individuals and businesses throughout Galway and across Ireland. Contact Kerrigan Solicitors today to arrange a confidential consultation and discuss your legal options.
Telephone: 091 820630
Website: kerrigansolicitors.ie
Email: m.kerrigan@kerrigansolicitors.ie
*In contentious business, a solicitor may not calculate fees or other charges as a percentage or proportion of any award or settlement.