Accountants’ Negligence and Liability: Second edition

Preface to the Second Edition
Foreword by The Rt Hon Lord Hoffmann
Acknowledgements
Contents
Table of Cases
Table of Statutes
Table of Statutory Instruments and Other Guidance
Part 1: Introductory
	Chapter 1. Introduction and general principles
		Introduction
		Accountants' range of activities
		Contractual liability
		Tortious liability
		Fiduciary and equitable liabilities
		Criminal liability
		Disciplinary liability
		Causation, remoteness and assessment of loss
		Employment, the individual accountant and the firm
		Privilege
Part 2: Auditing
	Chapter 2. The legal framework of auditing
		Introduction
		The statutory requirement to prepare accounts
		The statutory requirement for audit – Companies Act 2006
		European legislation on accounts and audit
		Competition and Markets Authority Order
		Financial Services and Markets Act 2000
	Chapter 3. The regulatory framework of auditing
		Introduction
		Accounting standards
		Authorisation and regulation of auditors
		Auditing standards
	Chapter 4. Characterising the auditor's relationship with the company and the elements of and defences to a claim for audit negligence
		Auditor's relationship with the company
		Elements of and defences to a claim for audit negligence
	Chapter 5. Caparo: the objects and scope of the auditor's duty of care in tort
		Caparo Industries Plc v Dickman
		The purpose of the audit – other views
		Commonwealth authority on Caparo
		After Caparo: what is required to establish a duty of care?
	Chapter 6. Applications of the Caparo principle
		The general audit duty is not owed to a purchaser of the company
		The general audit duty is not owed to investors, lenders, directors or employees
		Assumption of responsibility cases: corporate transactions
		The auditor in the corporate group
		Failed applications to strike out
	Chapter 7. Breach of duty and the auditor's standard of care
		The standard of care in general
		Specific issues in the standard of care
	Chapter 8. Scope of auditor's duty – for what losses is the auditor liable?
		General principles
		Losses claimable by the company
		Losses claimable by the purchaser or vendor where a special duty of care is established
		Reflective loss
		Avoided loss and benefits
Part 3: Other liabilities of accountants
	Chapter 9. Non-audit liability of accountants
		Introduction and general principles
		Accounting, non-statutory auditing and reporting
	Chapter 10. Conflicts of interest and confidential information
		Introduction
		Former client conflicts
		Investment advice
		Valuation engagements
		Corporate finance advisory work
		Insolvency practice
Part 4: Defences
	Chapter 11. Policy defences – ex turpi
and insolvency
		Introduction
		Illegality
		The 'no duty for the benefit of creditors' defence
	Chapter 12. Limitation
		Introduction
		When time starts to run
		When time ceases to run
		Section 14A
		Section 32
		Amendments after expiry of the limitation period
		Contribution claims
	Chapter 13. Disclaimers and exclusions of liability
		Introduction
		Disclaimers
		'Hold harmless' letters
		Proportionate liability clauses
		Exclusion and limitation clauses
		The Unfair Contract Terms Act 1977
		Excluding or limiting liability for statutory audits
	Chapter 14. Contributory negligence and contribution
		Contributory negligence
		Contribution
	Chapter 15. Counterclaims and mitigation of loss
		Counterclaims
		Mitigation of loss
	Chapter 16. Statutory relief
		Introduction
		Scope of section 1157
		Principles governing the grant of relief
Part 5: Issues arising in litigation concerning accountants
	Chapter 17. Disclosure
		Introduction
		Pre-action disclosure
		Standard disclosure
		Non-party disclosure
		government-licence/version/3)
		Specific disclosure
	Chapter 18. Expert evidence
		Introduction
		Admissibility of expert evidence
		Duties of experts
		Single joint experts
		Expert reports
		Written questions to experts
		Discussions between experts
		Experts' requests for directions
		Expert evidence at trial
		No immunity from suit
Part 6: Disciplinary regimes and money laundering
	Chapter 19. Disciplinary regimes
		Introduction
		Recognised supervisory bodies (RSBs)
		Audit Quality Review
		The Accountancy Scheme
		The new audit enforcement procedure
		The Audit, Reporting and Governance Authority
	Chapter 20. Money laundering
		Introduction
		Risk assessment
		Proceeds of Crime Act 2002
		Failure to prevent the facilitation of tax evasion under the Criminal Finances Act 2017
		Terrorism
		Tipping off, prejudicing an investigation and super-SARs
		Client confidentiality
		The Money Laundering Regulations
		Guidance issued by supervisory bodies
		Application of privilege to the accountancy profession
Index