Claims against Financial Professionals

If you have a claim against an Accountant, Financial Advisor, we can help.

Accountants and Financial Advisors can be instructed to advise both individuals and businesses on a variety of different matters such as tax advice, tax returns, investment advice, audits or preparing accounts.

As with any other professional you instruct, accountants and financial advisors have a duty of care to their clients and are expected to perform their role with the skill and care that would be expected of a reasonably competent professional in the same area.

There are two professional bodies that regulate the majority of accountants in England and Wales;

Chartered Accountants are regulated by the Institute of Chartered Accountants in England and Wales (ICAEW)
Certified Accountants are regulated by the Association of Certified Chartered Accountants (ACCA)

Both of these regulatory bodies have formal complaints procedures that allow complaints to be raised, however if the complaints procedure has not rectified the issue, professional negligence claims can be brought against accountants through the courts.

Your accountant may have acted negligently if they have;

Failed to draw up accounts adequately
Failed to give the correct tax advice
Failed to file tax returns and/or accounts on time
Failed to advise on tax regulations
Failed to correctly value company assets
Failed to advise correctly on investments

Your financial advisor may have acted negligently if they have:

Misrepresented the investments or financial products.
Advised you to invest in products that were unsuitable to your individual needs.
Failed to consider the risk involved or wrongly assessed your attitude towards risk in regard to investments

These are not the only ways your accountant or financial advisor may have acted negligently.