Accountant Liability

Williams & Connolly has represented national accounting firms, including two of the “Big Four” in dozens of malpractice, securities and regulatory matters.  Among them are high-profile cases stemming from some of the country’s largest financial frauds.  In addition to the firm’s extensive experience defending against claims brought in connection with both attest work and tax advice, Williams & Connolly has represented accounting firms in numerous other cases ranging from employment suits to congressional investigations.  The regulatory matters handled by the firm have included an array of investigations and enforcement actions involving the PCAOB, SEC, CFTC, and state licensing boards around the nation.  As in other practice areas, the firm has not shied away from taking its accounting client matters to trial.

Representative litigation matters include:

  • Representation of a “Big Four” accounting firm in multi-billion-dollar securities and audit malpractice litigation arising out of probably the largest investor fraud in history, including the successful defense on the merits of its audit before a three-judge arbitration tribunal.
  • Representation of another “Big Four” firm in defending individual, class and derivative claims in numerous forums across the country – including state courts, a federal MDL and an arbitration – arising out of the Madoff Ponzi scheme.
  • Representation of a national firm in a three-week jury trial involving malpractice claims arising out of audits of a healthcare company.  Williams & Connolly obtained a defense verdict on all claims.
  • Representation of a “Big Four” firm in arbitrations and court proceedings in multiple cases arising from tax services and tax minimization strategies.
  • Representation of a national accounting firm in audit malpractice claims brought by investors and a federal bankruptcy trustee, in multiple forums across the country, arising out of the Petters Ponzi scheme.
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