It was alleged that the Insured failed to carry out proper auditing duties.

£20,000,000

A client purchased a company on the basis of accounts which had been approved by the Insured.The client then alleged that the accounts did not show the true position.

£4,000,000

The Insured failed to identify serious embezzlement whilst acting as auditors.

£4,000,000

The Insured is alleged to have extracted the assets of a liquidated company to the detriment of its creditors.

£4,000,000

The Insured was allegedly negligent in auditing company accounts (Limit of Indemnity: £1,000,000).

£2,000,000

The Insured advised a client regarding the transfer of funds to members of the family.The client became liable for Capital Gains Tax.

£1,510,000

Whilst undertaking an audit, the Insured failed to detect a major fraud.

£950,000

It was alleged that an issue of shares and subsequent buy out of the company was effectively void. Damages may be awarded up to the value of the company.

£525,000

The Insured failed to meet the requirements of the Companies Act when dealing with the issue of shares.

£525,000

The Insured prepared a report on the assets of a company.The client subsequently invested in that company, which went into liquidation.

£300,000

It was alleged that the Insured was negligent in the preparation of company accounts.

£250,000

The Insured were engaged to carry out accountancy services and to give tax advice.As a result of their negligence the client became liable for deferred tax payments plus interest and penalties.

£230,000

A partner embezzled money from his firm over a period of nine years by arranging for cheques for the expenses of the practice to be made payable to him.

£150,000

A routine audit failed to detect embezzlement by an employee.

£150,000

The client alleged that the Insured failed to prepare accounts and tax returns on time.

£140,000

The Insured advised a client to purchase a pension scheme which had not been approved by the Inland Revenue.A claim was made for the return of the premiums.

£130,000

The Insured exceeded the specified time limit for claiming against a client’s trading losses.

£100,000

It was alleged that the Insured negligently over-valued a company’s assets when preparing the accounts.

£75,000

The Insured devised a number of tax schemes for a client but these were rejected by the Inland Revenue.

£50,000