Accounting Scandals
The year 2001 witnessed one of the world's most serious accounting information fraud done by some big accounting companies. The most famous was the Enron Scandal, involving one the world's biggest accounting firms, Enron Corporation.
Accounting Malpractice Lawsuit
Accounting malpractice happens when an accountant or accounting professional fails to follow or deliberately fails to apply the professional standards and deviates from General Accepted Accounting Principles (GAAP) or General Accepted Auditing Standards (GAAS). If the accountant or the auditor committed negligence, or violates the accounting rules and guidelines of standard accountant practices and causes damage, harm or financial loss to a client, he can be held legally responsible and can be filed an Accounting Malpractice Lawsuit.
Some examples of Accounting Malpractice Lawsuit cases include the following.
- Dishonesty or malfeasance
- Improper tax advice
- Failure to Detect Defalcations
- Accounting Malpractice due to fraud
- Accounts Receivable Errors
- Certified Accountant Professional (CPA) License Fraud
- Accounts Receivable Errors
- Deviations from GAAP & GAAS Standards
- Inventory Errors
- Securities FraudTax investment cases
- Failure to properly audit financial statements
- Improper tax advice
