Financial Damages Experts Opine on Auditing Firm Negligence

ByJoseph O'Neill

Updated on

Financial Damages Experts Opine on Auditing Firm Negligence

Case Overview

This is a professional negligence case against a large auditing firm. The defendant firm was performing the audits for a property insurance firm in Texas. Insurance companies are required to maintain a certain amount of liquidity, however the property insurance firm had been operating without adequate cash reserves. It was alleged that the auditing firm was approving transactions off of the balance sheet that made non-cash assets look like cash. As a result of this, an eventual investigation into the insurance company’s financials caused the firm to fold within a matter of weeks, leaving thousands unemployed.

About the author

Joseph O'Neill

Joseph O'Neill

Joe has extensive experience in online journalism and technical writing across a range of legal topics, including personal injury, meidcal malpractice, mass torts, consumer litigation, commercial litigation, and more. Joe spent close to six years working at Expert Institute, finishing up his role here as Director of Marketing. He has considerable knowledge across an array of legal topics pertaining to expert witnesses. Currently, Joe servces as Owner and Demand Generation Consultant at LightSail Consulting.

Find an expert witness near you

What State is your case in?

What party are you representing?

background image

Subscribe to our newsletter

Join our newsletter to stay up to date on legal news, insights and product updates from Expert Institute.