The Netherlands -

Breach of an accountant’s duty of care does not always lead to civil liability -

In the period of 2001-2002, two accountants drafted a company’s financial statements at the request of the owner who intended to sell the shares in the company. When drafting the financial statements, the accountants made several significant mistakes. For example, the accountants attributed the company’s turnover to the wrong year. As a result, on 4 January 2011 the Dutch Trade and Industry Appeals Tribunal (College van Beroep voor het bedrijfsleven, CBb) found the two accountants had grossly neglected their duty of care. Thereupon the CBb issued an official reprimand.