Fiduciary Duty, Accountants

Texas Supreme Court Clarifies Limits on Business Fiduciary Duties

Jackson Walker on 2/27/2025

On February 21, 2025, the Supreme Court of Texas delivered a significant ruling in the case of Pitts v. Rivas, addressing the issue of fiduciary duties within professional relationships. The Court concluded that no fiduciary...more

Responsibilities of a Special Needs Trust Trustee

Chambliss, Bahner & Stophel, P.C. on 7/14/2023

For individuals with disabilities, an inheritance or settlement can jeopardize a their government benefits, such as Medicaid and Supplemental Security Income (SSI). A special needs trust (SNT) can help the individual remain...more

A Compilation of Enforcement and Non-Enforcement Actions

Foley & Lardner LLP on 8/3/2015

Non-Enforcement - States are Accommodating Crowdfunding Offerings While the SEC Continues to Ponder Crowdfunding Rules - The SEC first proposed rules in October 2013 for the crowdfunding exemption which was included in...more

DOL Report on Quality of Independent Plan Audits Shows that Plan Sponsors Must Continually Monitor Plan Compliance

McDermott Will & Emery on 6/16/2015

The Employee Benefits Security Administration (EBSA) of the U.S. Department of Labor (DOL) recently released “Assessing the Quality of Employee Benefit Plan Audits,” a comprehensive report reviewing the quality of audit work...more

Homebuilder Series Webinar: Fiduciary Duties & Auditor Liability

Bilzin Sumberg on 2/18/2015

Watch an in-depth Homebuilder Series webinar that discusses auditor liability and fiduciary duties. Two issues of recurring interest to company officers and directors are the potential liabilities of outside...more

Accountant’s Fiduciary Duty as Independent Auditor

Brooks Pierce on 11/12/2014

In North Carolina, an accounting firm now owes a fiduciary duty to its audit client, both as a matter of law and as a matter of fact. On November 4, 2014, a North Carolina appellate court held — for the first time —...more