Accountants' Liability
We understand the reputational, financial and personal impact liability claims and regulatory investigations can have on professionals, firms and their insurers. Our highly experienced team can be trusted to manage claims and investigations in a sensitive, pragmatic and commercial way, responding quickly and effectively to contain exposure and minimise reputational damage. Whether defending allegations of wrong-doing, preserving privilege, protecting reputation, undertaking innovative mitigation strategies or advising on new and emerging risks, we can help you.
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Our nationwide team are trusted advisors to accountants, auditors, actuaries, tax consultants, trustees, insolvency practitioners, and their insurers.
We specialise in defending professionals against liability claims, regulatory investigations brought by the Financial Reporting Council, ICAEW and other regulators, and advising on disciplinary-related matters.
We advise on a broad spectrum of claims including allegations of negligence relating to audits, tax, corporate valuations, wrongful/fraudulent trading and fraud. We also advise on mitigation strategies and emerging risks such as financial disclosures, ESG metrics, cybercrime and data theft.
We work with accountancy practices of all sizes including the "Big Four", the mid-market and smaller firms. Our comprehensive network of offices across the UK means we can tailor teams geographically and deliver practical, cost-effective, commercial solutions.
Our international reach and reputation means we are frequently instructed in high value and complex claims against accountants in offshore jurisdictions including the Channel Islands, Isle of Man, BVI and Caymans.
Featured experience
- Successfully defending a firm of tax advisors in a £35m claim by the liquidators of a property investment club. Following a 5 week trial, our clients were completely exonerated of allegations of negligence, dishonest assistance and unlawful means conspiracy.
- Defending a mid-market firm in a c.£92m claim for alleged negligent auditing brought by UK subsidiaries of an international media group based in Sweden.
- Acting for a Big Six firm and a number of its audit partners in an investigation by the Financial Reporting Council (FRC) into misconduct of a former employee, a senior audit manager, who forged the signatures of audit partners on audit opinions. We are also advising on legal claims brought by affected clients.
- Representing a Big Six audit firm and its audit partners in a FRC investigation concerning breaches of ethical standards, resulting in a settlement acceptable to all parties.
- Successfully repudiating several multi-million pound claims concerning alleged negligent advice given to clients to invest in tax avoidance schemes (including a high profile film partnership and a failed property investment scheme).
- Defending c.£40m claim for alleged negligent audit and VAT advice, and involving complex issues arising out of a HMRC challenge.
- Successfully challenging HMRC’s interpretation of the rules regarding a tax incentive scheme, and thereby mitigating a formal claim against the accountancy firm that it (allegedly) failed to structure the floatation of a property company to qualify for Enterprise Investment Scheme relief.
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Who we are
Why choose DAC Beachcroft?
We’re a broad-based commercial firm serving a wide range of sectors with a strong heritage in insurance,
health and real estate. We combine excellent legal skills and cutting-edge delivery expertise to design
solutions that fit the needs of our clients – often involving clever uses of technology.
Insurance
DAC Beachcroft is recognised as a pre-eminent advisor to the insurance market, and we place a strong emphasis on the long-term relationships we build with you so that we can really add value to your business.
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Health and Social Care
DAC Beachcroft is regarded as market leaders in the provision of corporate, commercial and regulatory legal advice to healthcare providers.
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Real Estate
With 170 lawyers we are one of the largest Real Estate legal teams in the UK. Our extensive network gives us national, regional and local knowledge and access.
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Financial Services
We regularly advise product designers and manufacturers, trade bodies, and retailers, distributors and venture capitalists looking to invest in the financial services sector.
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Technology
As long-standing and trusted advisers in the technology sector, we deliver pragmatic and innovative solutions that empower you to make informed decisions about how best to maximise your success.
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Industry Specialisms
We combine our in-depth sector knowledge with astute commercial awareness and global reach.
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