Auditor’s Liability


Businesses, investors and lenders rely on auditors in order to make important decisions.  When audited financial statements do not reflect the financial reality of a company, disputes can arise as to whether the auditors are responsible for the losses sustained by those who relied on their work.

We have considerable expertise in this area of law, having acted for and against auditors.  By way of example, we have:

  • obtained judgment against the auditors of Castor Holdings Ltd., determining issues common to claims totaling, with interest, more than $1.5 billion, in Canada’s largest auditors’ liability case at the time;
  • represented a major international auditing firm in a class action brought against several auditing firms; and
  • represented a major Canadian financial institution in a case against an auditing firm.