Professional liability of Auditors and Tax Advisors
A further specialty of the litigation team of GLNS is advising on disputes about the professional liability of auditors and tax advisors. Such disputes are typically based on breaches of duties relating to advising on tax structuring, during the annual audit, or in critical financial situations (incorrect audit of restructuring reports).
In this are we mainly advise companies on the enforcement of claims for damages against their (former) tax advisors and auditors. The complexity of the matter requires an integrated know-how of civil law and civil procedure law combined with special knowledge in tax law. Our litigation practice works closely with the tax advisors of GLNS. Moreover, we regularly cooperate with an audit firm specialized in the forensic assessment and suited for the necessary preparatory work regarding the determination of the correctness of an audit and damages.
Selected References:
- Biotechnology company on the enforcement of damages claims against a tax advisor firm based on incorrect treatment of dividends or payments from the taxable deposit account pursuant to section 27 Corporation Tax Act
- Real estate company on the enforcement of claims for damages against a tax advisor based on incorrect advice on tax structuring with respect to turnover tax liability of certain real estate deals
- Chemical company on the enforcement of claims for damages against an audit company based on the failure to detect long-time embezzlement by employees of the company in connection with the annual audit
- Mid-sized automobile trade company on the judicial enforcement of claims for damages against an audit company based on the failure to detect long-time embezzlement by employees of the company in connection with the annual audit and the group audit
- Entrepreneur on the enforcement of claims for damages against tax advisor based on incorrect tax advice in connection with security transactions