Accountant malpractice expert Dr. Barry Epstein and his team of auditor liability experts are available to assist corporate and securities litigation attorneys in accountant liability matters involving the interpretation, evaluation, and application of the “10 auditing standards” published and maintained by the American Institute of Certified Public Accountants (AICPA). A summarized version of the standards appears below.
General Standards
1. Adequate technical training and proficiency.
2. Independence in mental attitude.
3. Due professional care.
Standards of Field Work
1. Adequate planning and supervision.
2. Sufficient understanding of the entity, including its internal control.
3. Sufficient, appropriate audit evidence by performing audit procedures.
Standards of Reporting
1. Statement in the auditor’s report regarding U.S. GAAP compliance.
2. Identify in the auditor’s report variations between reporting periods.
3. Identify any inadequacy in informative disclosures.
4. Express an opinion regarding the financial statements, or the inability to do so.
Epstein + Nach LLC offers a level of proficiency, knowledge, and experience in accountant malpractice and accountant liability that is difficult to match. In addition to our expertise in auditor liability, we can assist you in matters relating to:
- Interpretation of U.S. GAAP and IFRS
- White collar crime
- Financial reporting fraud and securities fraud
- Complex securitization and derivatives disputes
We have been involved in more than 140 litigation matters, including many high profile cases arising from such alleged infractions as off-the-books transactions, stock option backdating, and other forms of accountant liability and financial fraud.
Contact accountant malpractice expert Dr. Epstein at 312-464-3520 or via email to discuss potential litigation involving auditor liability.