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Accountants Duty

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Accountants Duty

Postby Russell » Tue Jul 07, 2015 1:29 am

If you employ a freelance accountant is it there job to remind you when the accounts are due? Or that a deadline is approaching? Or that you have missed a deadline?
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Re: Accountants Duty

Postby miner » Tue Jul 07, 2015 1:30 am

Employ? Are you his /her employer?
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Re: Accountants Duty

Postby 3.14 » Tue Jul 07, 2015 1:49 am

Russell wrote:If you employ a freelance accountant is it there job to remind you when the accounts are due? Or that a deadline is approaching? Or that you have missed a deadline?

What does the contract state?
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Re: Accountants Duty

Postby Russell » Tue Jul 07, 2015 2:00 am

Umm okay I don't think there is a contract but I don't know as it regards someone else. Yes, employ as in the accountant works with many small business clients and this just another client. Maybe the word would be contracted to do the accounts rather than employ?
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Re: Accountants Duty

Postby atticus » Tue Jul 07, 2015 6:09 am

A lot more info needed, Russ.

What did you engage them to do? When did you engage them? Who engaged them?

Stuff like that. It is the circumstances that need to be looked at. There is no simple answer to a one line question.

Accountants owe duties of care, but you have also to remember that they depend on their clients to provide information, documents etc.
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Re: Accountants Duty

Postby atticus » Tue Jul 07, 2015 7:44 am

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Re: Accountants Duty

Postby dls » Tue Jul 07, 2015 9:03 am

The range of duties for which you might employ an accountant are so wide and various that I doubt that any such duty is generally imposed.
It is of course very possible that one is by the terms of the contract he is engaged under.

Any such duty would not however displace a businessman's/businesswoman's own duty- in law and common sense - to be aware of such deadlines.
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Re: Accountants Duty

Postby Russell » Tue Jul 07, 2015 2:32 pm

Thanks for the replies :) Okay I have more details.

The only job that the accountant is employed to undertake is the filing of the accounts. As there was some confusion regarding which accounts had been filed a call was arranged to discuss and plan the future accounts submissions. During the call it was not mentioned that accounts x needed to be filed. Indeed the deadline for these accounts came and went with no action from anyone due to this call. A letter was then received about them not being filed. This was highlighted to the accountant via email and the accountant then gave an incorrect explanation for the HMRC letter (which seems to show they were not aware they had not been filed). It only became apparent that the deadline had been missed when the client showed the actual letter to another accountant and they informed the letter was explaining that accounts x had not been filed. The client then informed the accountant that the deadline had been missed. Any ideas?
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Re: Accountants Duty

Postby atticus » Tue Jul 07, 2015 6:12 pm

Yes.

What is the loss to your company?
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Re: Accountants Duty

Postby Russell » Tue Jul 07, 2015 6:55 pm

I believe about £800 in fines :o
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