Reed Smith Newsletters

Welcome to Reed Smith’s accountancy forum newsletter. This newsletter covers a range of issues affecting accounting firms, with a core focus on liability and regulatory risk. Please do get in touch with any questions. If there is a particular issue or case that you would like us to cover in an upcoming edition, we would love to hear from you.

In this issue...

Lead article

  • COVID challenges to FCA regulated firms and their auditors

Case notes

  • Next stop: the Supreme Court (Sports Direct v Financial Reporting Council)
  • Privilege: High Court makes it clear that auditors must form a view
  • Audit working papers, please? - No, not yet!
  • Supreme Court – landmark judgment on the law of vicarious liability
  • Opportunity knocks: proving loss of opportunity requires sufficient evidence
  • Legal professional privilege: the High Court considers the fraud exception in Addlesee v. Dentons [2020] EWHC 238 (Ch)