Presenter: Bridget Wall – Partner

Professional indemnity claims against accountants remain a significant and evolving source of exposure for underwriters.

This session provides a focused, practical review of the case law and regulatory developments affecting the accounting profession over the past 18 months. Rather than a general professional indemnity overview, the entire session is dedicated to accountants.

The session will cover the duty and standard of care owed by accountants and auditors, recent judgments on liability for tax, valuation and audit-related advice, the interaction between negligence and misleading or deceptive conduct claims, proportionate liability considerations, accessorial liability and current regulatory settings (including relevant ASIC enforcement priorities, the professional standards schemes and the recent joint parliamentary committee into the financial services sector).

By the end of the session, attendees will be able to:

• Identify the key themes emerging from Australian case law on accountants’ professional negligence over the past 18 months.
• Explain how courts have approached the scope of an accountant’s or auditor’s duty of care in recent judgments, and the practical effect on liability outcomes.
• Recognise the most common sources of accountants’ PI claims currently before the courts (including audit, tax advice, and valuation-related matters) and the factors driving them.
• Understand how proportionate liability principles are being applied in claims involving accountants, and the implications for exposure and settlement strategy.
• Describe current regulatory settings affecting the profession, including relevant ASIC enforcement priorities and the professional standards schemes that commenced in 2025.

Registrations: Accounting Professional Liability: Current Claims Experience and Future Risk Trends