Types of Accounting Malpractice

When accountants make mistakes in the performance of their duties, it can have a severe adverse effect on a business. Accounting errors can generate significant losses for clients and business owners. In a worst case scenario, your company’s reputation could suffer as a consequence of perceived improprieties. Since the negative effects of accounting malpractice can be so extensive, it is important that you understand the steps you can take to hold an accountant responsible for the harm that your business has suffered.

Speak with a knowledgeable Chicago accounting malpractice attorney of Friedman & Bonebrake, P.C., at 312-466-8200 today. Our experienced legal representatives can answer any questions you may have about accounting malpractice and discuss your individual case, free of charge. Contact us today for an initial consultation.

The Two Forms of Accounting Malpractice Negligence

Professional accountants are supposed to adhere to Generally Accepted Accounting Principles, or GAAP, when they perform accounting services. There are two types of negligence that accountants could commit when preparing financial statements for your business. These are:

• Simple negligence, which includes errors that average accountants would not have committed
• Gross negligence, which includes serious errors that are far from the standards of accounting

If there is a cause and effect relationship between the negligent or careless accounting acts and your damages, you may have a strong case.

Contact Us

To find out if accounting malpractice played a role in your business losses, speak with a skilled Chicago accounting malpractice attorney of Friedman & Bonebrake, P.C., at 312-466-8200 as soon as possible. Our legal team has experience defending clients in this area and can help you to determine the possible merits of legal action in your case.