Accountants and Professional Liability Defense
A&S Jurisprudentia Ltd is a top national law firm for major accounting firms that end up in disputes with clients, investors, lenders or regulatory authorities. Our accountants and professional liability defense lawyers regularly represent audit, tax, consulting, and transaction service professionals at the Big Four and other national and regional firms in a wide array of litigation, arbitration, administrative and government matters. We bring to every engagement detailed knowledge of the profession and the governing standards, laws and regulations. We regularly advise audit teams and other professionals in the field regarding various practice and regulatory issues, including possible illegal acts, the appropriate remedial measures, and notification pursuant to Section 10A. Combined with our creative approach to problem solving, we enable accounting firms to mount aggressive defenses of their work and reputations.
Attorneys in our Accountants and Professional Liability Practice Group have successfully defended accounting firms throughout the US in federal securities class actions, state common law actions, and arbitrations as well as SEC, IRS, PCAOB and state accounting board investigations and enforcement actions and legislative hearings.
We have a strong track record of getting cases dismissed early in a litigation, and have developed some of the leading case law limiting an accountant’s liability under both state and federal law. Our accountants and professional liability practice group attorneys have also convinced the SEC, the PCAOB and numerous state boards of accountancy to refrain from proceeding with litigation or other disciplinary action against accounting firms and their partners.
When we cannot get a case dismissed in its early stages, we have had great success at trial before juries, courts and arbitrators. A&S Jurisprudentia Ltd is one of just a handful of firms around the country to have handled jury trials and full arbitrations for the Big Four and other national accounting firms. For example, we recently obtained a defense verdict after a 31/2-week trial on behalf of one of the nation’s largest firms.
A&S Jurisprudentia Ltd’s Accountants and Professional Liability Practice Group has a deep bench of senior lawyers who have worked closely with our clients for years on GAAS and GAAP issues and a broad range of other professional liability matters. We bring that learning to all our matters. Our legal team is experienced in the full range of financial reporting and issues, including purchase accounting, fair value, restructuring expenses, revenue recognition, going concern disclosures, the appropriate accounting treatment of mortgage and other related derivative instruments, complex tax planning vehicles and asset and good will impairment. We also have notable experience representing foreign affiliates of US firms in disputes and investigations.
In securing results for our clients, we have shaped case law, limited client liability and provided valuable risk management advice.