Abstracts » Business

How many hats can you have?

Article Abstract:

Cases involving accountants and their services were observed for 1992's beginning months. The primary problem in most cases was the dominance of several roles for such accounting services. It is shown that such a scenario complicates litigation. In addition, a vital difference between client sophistication levels and validity of accounting advice influences a judge's reactions. Thus, accountants are expected to reveal to clients their prospective roles to avoid such complex cases.

---

A common-sense approach

Article Abstract:

Rulings on two professional liability cases in Canada can apply to accountants being sued for damages. Both rulings found the professionals liable although damages demanded by plaintiffs were not awarded. The first case involves an accountant who allegedly failed to submit required forms to a client's insurance company while the second case involves the rendering of single decision for three unrelated cases.

Canada, Malpractice

---

Obligation is a two-way street

Article Abstract:

Auditors and their clients or other 'related parties' have certain obligations to fulfill during any audit process. Clients or their top management personnel need to convey all important information to their auditors. Moreover, auditors are entitled to depend on management's explanations on all auditing matters with the assumption that they are being deceived.

Accounting & Auditing Services, Accounting, Tax Preparation, Bookkeeping, and Payroll Services, Laws, regulations and rules, Auditing, Auditors

Some parts © 2012 Advameg, Inc.