Quantifying losses in professional negligence claims
Professional negligence occurs when a professional is negligent in performing their responsibilities to a required standard. This required standard is a level of service expected from a reasonable professional in that field.
While anyone can be accused of being negligent, professional negligence claims can only be brought against a person who can be considered an expert in their field, i.e. an accountant or auditor.
To bring a claim in a professional negligence case, it will be necessary to demonstrate the following:
The professional owed a duty of care
That the duty of care has been breached
Establish the quantum of any loss suffered
We are able to provide advice or opinions on the quantum in respect of the conduct and competence of accountants, auditors or financial services professionals in a wide range of situations.
Professional negligence, also known as professional malpractice, refers to the failure of a professional to provide services that meet the standards of care that are generally accepted in their field. This may occur when a professional fails to exercise the level of skill, care, and diligence that a reasonable person in their profession would use in similar circumstances.
Professional negligence can occur in a variety of professions, including medicine, law, accounting, engineering, and architecture. In order to succeed in a claim of professional negligence, the person bringing the claim (the plaintiff) must typically show that they suffered harm as a result of the professional's failure to meet the required standard of care.
If a professional is found to be negligent, they may be required to pay damages to the plaintiff to compensate for the harm that was suffered. In some cases, professional negligence may also result in disciplinary action being taken against the professional, such as the revocation of a license or the imposition of fines.
Find out more about how Matrix Forensic can help by sending us an enquiry.