Accountants' Liability in Canada is the only work of its kind that addresses specifically and exclusively the civil liability of accountants in contract, negligence and fiduciary law. Written by Ronald Foerster, a leading practitioner in the area of Commercial Litigation, Accountants' Liability in Canada offers a thorough explanation of the development of the law in Canada, England and the U.S.A., as well as a comprehensive explanation of the current state of the law in Canada. Well written in clear, concise language that both lawyers and accountants can easily understand, the work begins with a summary of the scope of the work and then proceeds to answer the questions:
- What is the tort of negligent misstatement?
- How does it differ from other branches of the law?
- To whom may accountants be liable?
- When does an accountant owe a duty to a non-client?
- What is the standard of care that accountants must meet in order not to be liable?
- How does the standard vary in preparing financial statements for different services?
- What is the standard of care for accountants who engage in non-traditional functions?
- What role does reliance play in negligent misstatement?
- What fiduciary duties do accountants owe, to whom, and in what circumstances?
- What damages are courts awarding for accountants’ liability in contract, negligence and fiduciary law?
Moreover, the author offers his expertise and position on the merits or weaknesses in court decisions and where the courts should move in resolving outstanding problems with the law.
"With the ongoing debate over increased regulation of accountants and the potential spillover effect on corporate governance and risk, this text will become a well-referenced treatise by writers and speakers on the subject."
Jean Chong, Librarian, Legal Services Society of B.C. (Formerly Tax Research Centre Manager, PricewaterhouseCoopers) West Vancouver, BC