Solicitor fraud case

Bren1609

Has anyone been following this case in the media? Seems to be different stories about how he was using the money. Was it client money or was he re-mortgaging the same properties with different banks?

What role would the auditors play in all this???

kluivert

There is a audit specially designed to to account for client's money.

I.e That total of the clients accounts agree to the client current account held by the solictor.

Solicitors have there own ledger specially designed to track monies, a system that works very well.

I have never done an audit for client accounts but I was asked to reconcile the solicitors clients records to the bank account statements. They agreed everytime.

It would be advised to comment on the facts of the case, and not speculation.

Bren1609

What I mean is, would the auditor be liable if they signed off on the audit?

indiewindy

Yes, the auditor will be liable if they signed off on incorrect accounts. Thats what brought down Andersen after Enron.