The chartered accountant is liable to professional civil liability in the event of a breach of duty committed in the course of his work. He is also liable for the actions of his employees in the course of their professional activities.
The chartered accountant is bound by contractual obligations towards his clients, but may also be liable in tort towards third parties, subject to the rules of ordinary law.
What are the accountant’s obligations?
The chartered accountant must practise his profession in accordance with the practices and codes of ethics of the profession. They must also maintain their independence at all times and respect professional secrecy.
They are also bound by :
- A duty to provide information, advice and warnings: they must pass on informed information, particularly when providing legal and tax advice. The same applies to the risks involved in certain transactions;
- An obligation of prudence: they must use all necessary means to fulfil their obligation in the best possible conditions. In addition, he must be vigilant about meeting deadlines, communicating and verifying the information required for his assignment;
- An obligation of diligence in establishing, maintaining and monitoring their customer’s accounts and transactions (possible fraud, etc.).
If you become aware of a breach, do not hesitate to contact one of our lawyers. He or she will help you take steps to ensure that your chartered accountant is held liable.
What liability actions are possible?
Proof of negligence or errors relating to one of these duties may also result in the accountant being held liable.
They may also be subject to disciplinary sanctions imposed by the regional chamber of the profession (reprimand, reprimand or suspension, etc.). This applies in cases of illegal practice of the profession or misuse of these titles.
Liability claims may be brought against the firm of chartered accountants or directly against the chartered accountant for the work he or she has performed. The limitation period is 5 years, starting from the date of knowledge of the harmful event.
By virtue of a decree, the chartered accountant is protected by an insurance policy covering his professional civil liability. For other professional breaches not covered by this policy, the insurance taken out by the Conseil supérieur de l’ordre des experts-comptables will provide cover.
Before taking any legal action against your chartered accountant, you should contact a lawyer. He will be able to advise you on what to do and what steps to take.
