What is Accountant Malpractice in Philadelphia and What Can Victims Do About It?

by | Nov 16, 2016 | Lawyers and Law Firm

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Accountant malpractice suits originate with a financial harm occurring due to a professional accountant’s failure to meet the standards of his or her profession. These standards are known as the generally accepted accounting principles and the tax code. If accountants commit errors due to negligence or willfully fail to adhere to these codes and principles and their client or clients suffer monetary losses. As a result, they can be held accountable.

It is important to note that filing and winning a suit for Accountant Malpractice in Philadelphia can pose more of a challenge than other personal or property injury cases. They require expert witnesses to testify regarding the standard of care and good practices in the field, as an average person may not be aware of what these standards are and thus may be unable to recognize the criminally negligent behavior. As a result, it can be more expensive to hire an accountant malpractice lawyer, as there is simply more legal legwork that needs to be done in order to win the case.

In addition to proving negligence, a lawyer trying a case in Accountant Malpractice in Philadelphia must also prove that the professional’s negligence was the direct cause of the damage done to the client and his financial health. This involves both proving the extent of the loss, which will likely require hiring another accountant, and proving that it would not have occurred or would not have been as harmful had the accountant not behaved negligently. Frequently, this requires additional testimony from more expert witnesses.

The costs associated with trying accountant malpractice cases make it impractical to pursue them except in cases of extreme financial loss. It’s also worth noting that the statute of limitations for trying professional malpractice cases is often much lower than those set for medical malpractice and other related suits.

Those who have suffered financial losses due to the negligence of their professional accountants should be sure to hire a lawyer who has an active knowledge of related areas of the law and can handle the complexities of the case. Visit Website Domain to find out more information about professional malpractice suits and the lawyers that defend clients against them.

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