Audit firms have so far managed to fend off any firm-busting liability claims, but research firm Audit Analytics is raising questions about whether that may change in the near future.
Mark Cheffers, CEO of Audit Analytics, says audit firms likely will face some massive liability claims as the plaintiffs’ lawyers determine where to target blame for the economic tumble of the past several months. He presented data raising the question at a recent litigation conference hosted by the American Law Institute and the American Bar Association.
