Professional negligence

Accountants

Accountant negligence

Are you suffering financially because of an accountant's negligent services?

You are entitled to expect an accountant to know what it is they are doing when providing you with guidance on your finances. They should provide you with a level of service higher than the average person and they should be acting in your best interests. You should not be out of pocket because of the negligent actions of their service or products.

If you have suffered financially, because of an accountant’s negligent services or actions, get in touch with our team of litigation lawyers at Gibbs Wright to discuss your case. We offer an initial no-cost, obligation-free consultation to discuss the merits of your case with you.

Types of professionals

Examples of accounting negligence

  • Sham tax minimisation schemes
  • Bad advice
  • Incorrect tax liability assessment
  • Failure to identify tax exemptions
  • Decision making without considering your personal interests
  • Financial malpractice
  • Unreasonable accounting errors

Looking to resolve a professional negligence dispute?

At Gibbs Wright Litigation Lawyers, we offer an initial no-cost, obligation-free consultation to help you understand your options. We’re here to fight for you.

Definitions

What is negligent accounting?

An accountant will not necessarily have acted negligently simply because they have made an error in judgement. However, what is considered “reasonable care and skill”, and what will amount to negligence in accounting, will vary depending on the accounting service that is being offered. Our lawyers at Gibbs Wright can assist you in determining negligent accounting.

Professional negligence is when a professional owes a duty of care and breaches their responsibilities. Negligence also includes failing to give you correct advice, failing to give you advice on a certain issue, and failing to give you advice within a reasonable time (limitation periods).

To successfully prove a professional negligence claim against an accountant, you (a plaintiff) must establish that:

a duty of care was owed to you by the accountant

the accountant breached their duty of care to you

you (the plaintiff) suffered financial loss as a result of the accountant's breach of duty of care

If all the above elements are satisfied, a successful claim in professional negligence will generally entitle you (the plaintiff) to claim compensation for any loss or damage suffered as a result of the negligence.

This will generally include legal costs or other professional services expenses reasonably incurred in the process of establishing a professional negligence claim, and may occasionally also include potential future financial losses or expenses that are likely to accrue as a direct result of the negligence.

Professional negligence lawyers

How can Gibbs Wright help?

In most cases, our professional negligence lawyers will make every effort to settle your matter through negotiations. This negotiation is typically with the accountant’s indemnity insurer and or legal representative.  If negotiations are not possible or fail to reach an adequate resolution, the matter can proceed to court.

Our litigation lawyers at Gibbs Wright understand the commercial strategies that insurance companies employ in professional negligence claims, and we are capable of helping you through the negotiations and potential litigation that your case may face.

The bottom line is that if a professional’s negligent behaviour has impacted your life, we can be there to hold them accountable for their actions.

We are civil & commercial litigation lawyers

Why choose Gibbs Wright

There are hundreds of law firms in Queensland, but only a handful of them focus solely on litigation, and fewer still have the necessary skill and understanding to deliver commercially viable results for your matter.

At Gibbs Wright, we exclusively practice in litigation and dispute resolution, and as a client of ours, we want you to feel confident that you will receive unparalleled service and dedication for your dispute.

Our firm represents both plaintiffs and defendants across Queensland, in a wide range of litigation and dispute matters, and no case is too small, too large or too complex for our lawyers to take up the fight.

Whether you are an individual or one of Australia’s largest companies, your case deserves the same level of attention and dedication – and that is what we strive to provide to each and every client.

Commercially viable outcomes

High success rate

Brisbane-based Litigation Team

Dedicated litigation firm

Direct contact with your lawyer

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We help resolve professional negligence claims

Gibbs Wright acts on behalf of those who have suffered financially because of a professional's failure in their duty of care.

budget, financial, project, accounting

Negligent accounting

helmet, safety, construction

Negligent construction work

bill, tax, invoice

Financial advisor negligence

price, house, real, estate

Real estate negligence

Professional negligence questions

Frequently Asked Questions

You can take legal action against an accountant if they do not properly manage your financial affairs.

  • Engage in a tax minimisation scheme;
  • Produce an incorrect tax liability assessment;
  • Fail to identify tax exemptions;
  • Make decisions without considering your personal circumstances;
  • Make unreasonable accounting errors;
  • Fail to recommend appropriate strategies;
  • Embezzle money;
  • Fail to declare a conflict of interest; or
  • Fail to disclose all fees, charges, insurance premiums and commissions for service.

Not all financial loss that results from poor accounting can be considered negligence. The value of some investments will fluctuate as the result of normal market changes rather than negligent accounting.

You may have the right to compensation. Each case of professional negligence is different and requires a legal assessment. Call Gibbs Wright Litigation Lawyers to discuss the merits of your claim, your options and likely compensation.

Yes. Most negligence claims have a six-year time limit. This time limit starts at the time you first suffered loss. Extensions to this time limit can be granted in exceptional circumstances only.

The amount of compensation that will be received is entirely dependent on the circumstances of your case. If your claim succeeds, compensation may involve returning you to your financial position prior to the negligence occurring.

You could also be compensated for any profits lost or expenses incurred in trying to resolve the negligence. Claims for less than $150,000 can be made via the Australian Financial Complaints Authority.

Various factors can affect the amount of time it takes to finalise a claim of negligence, all of which are dependent on the individual circumstances of your case. The claims process is made quicker by providing detailed and accurate reports that support your claims of negligence.

Negligent accounting can have a devastating effect on a person’s life, now and into the future. 

At Gibbs Wright Litigation Lawyers, we will determine the strength of your claim and the best way to obtain maximum compensation, while reducing the risks involved and minimising costs to you.

The cost to make a claim will depend on the case. If you have suffered as a result of an accountant’s negligence, Gibbs Wright Litigation Lawyers can take up your fight and ensure you are properly compensated. Call now for a free, no-obligation consultation.

Yes. At Gibbs Wright Litigation Lawyers, we can determine the strength of the claim against you and the best way to minimise any compensation payable, while reducing the risks involved and minimising costs to you.

Testimonials

What our clients say

"These guys are fantastic. Extremely fast to respond with invaluable expertise and assistance. They helped resolve my dispute in the most cost effective and timely manner. Billing was extremely reasonable for the service."
Paul Cleveland
"Highly recommend Spencer and his team ..... took what was a very stressful time of my life and made it that much easier to deal with. The best possible advice leading to the best possible outcome for me. Thank you so much !!"
Simone Douglas
"Mitchell and the team at Gibbs Wright helped me out with a family situation....response time was great, no delay. Would recommend 100%."
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Our people

Meet our litigation team

Yusuf Furgan
Senior litigation solicitor

Meet Yusuf

Yusuf combines his formidable legal research and problem-solving skills together to resolve employment and commercial disputes.

Rebekka Hallberg
Senior litigation solicitor

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Rebekka is dedicated, driven, and an out-of-the-box type thinker, who assists our clients in a wide variety of litigation and IP matters.

Melany Dowse
Special counsel

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Melany represents a range of clients from individuals and small businesses to body corporates and insolvency practitioners.

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