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    Explain how Negligence Applies to the Accounting Profession

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    How does negligence apply to the accounting profession? Fully explain your answer.

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    In the accounting profession, negligence is called professional negligence. It can be defined as follows, and can apply to more than just the accounting profession:

    An act or misconduct also called malpractice where professionals like medical practitioners, lawyers, accountants, architects, etc fail to exercise their duties effectively and which results in damages to clients. It can be due to negligence, ignorance or intentional. It cannot be proved just by the patient's judgment unless it is very obvious but a legal declaration has to be made by an expert of the same profession that the professional failed to meet the basic standards while performing the act. The accused has the right ...

    Solution Summary

    In a 401 word cited solution, the concept of negligence as it applies to accounting profession is fully explained including the four key elements that must be established in to order to recover.