Miami Accounting Malpractice Attorney
Accountants are held to strict professional standards under Florida law, whether they provide tax preparation, consulting, auditing, risk management, or other financial and bookkeeping services. The Financial Accounting Foundation defines these standards as Generally Accepted Accounting Principles (GAAP), a collection of broad concepts and practices that set the bar for how a prudent accountant should serve clients. When accounting professionals fail to comply with GAAP and other applicable laws, they can be held liable for accounting malpractice.
Any claim for professional negligence involves complicated legal concepts, which is why it is essential to work with experienced counsel in pursuing your remedies for accounting malpractice. Our lawyers at Alhalel Law represent clients who suffer financial harm because of an accountant’s breach of duty, as well as those affected by negative tax implications that result from errors. Please contact our firm to schedule a consultation with a Miami accounting malpractice attorney, and continue reading for some important information about these cases.
Common Errors by Accounting Professionals
Accountants are legally obligated to operate within GAAP, rules of professional conduct, and other ethics standards. It may be a situation of malpractice where the individual errs by deviating from these standards, leading to an adverse outcome or financial losses for the client. Some of the most common mistakes may lead to a claim for accounting malpractice, such as:
- Breach of fiduciary duty;
- Conflict of interests and self-dealing;
- Offering inappropriate or unlawful advice on tax liability;
- Improper counseling on valuation of assets, debts, and other liabilities;
- Withholding information or providing inaccurate information to stakeholders;
- Manipulating balance sheets and other documents to boost stock value;
- Aiding in tax evasion, fraud, or embezzlement;
- Engaging in the practice of accounting without appropriate license; and
- Misconduct in certifying documents.
Pursuing Your Remedies for Accounting Malpractice
Because you need to prove that your accountant deviated from professional standards when providing services, solid evidence is crucial. Proof is also critical for establishing how these errors resulted in losses. Our Alhalel Law attorneys have in-depth knowledge of the evidence required to pursue your legal options, so we can develop a strategy for seeking all monetary damages available under Florida law. Our first step will usually be working with a professional malpractice insurance company and attempting to resolve your claim by agreement. However, we are prepared to take your case to court to get the compensation you deserve.
With help from a Miami accounting malpractice lawyer, you may be able to recover for:
- Amounts you overpaid in income, property, business, or other taxes;
- Damages for fines you were forced to pay for accounting errors; and
- Punitive damages, in cases where the misconduct was so severe that the accountant should be punished.
Contact a Miami Accounting Malpractice Attorney to Learn More
If you, your business, or related interests have been harmed by an accountant’s failure to comply with GAAP or other relevant laws, please call Alhalel Law at 305.563.9060 or visit us online. We can set up a consultation with a Miami accounting malpractice lawyer who will review your circumstances and help with a strategy for enforcing your rights.