Defences for Auditors' Negligent Failure to Detect Fraud
Comments on the two Singapore Court of Appeal decisions in PlanAssure PAC (formerly known as Patrick Lee PAC) v Gaelic Inns Pte Ltd and JSI Shipping (S) Pte Ltd v Teofoongwonglcloong (a firm) on whether auditors who have been held to be negligent for failing to detect fraud committed by their clientsÆ employees, may nevertheless raise the defence of contributory negligence on the part of their clients or claim statutory relief from liability. Reviews the policy consideration behind making available either such defence or relief from liability and whether the acts of the fraudulent employee may be attributed to the client for the purposes of determining contributory fault.
Auditors, Contributory negligence, Defences, Fraud, Liabilities, Professional negligence
Business Organizations Law
Journal of Business Law
Sweet and Maxwell
WAN, Wai Yee.
Defences for Auditors' Negligent Failure to Detect Fraud. (2008). Journal of Business Law. 2008, (4), 362-369. Research Collection School Of Law.
Available at: http://ink.library.smu.edu.sg/sol_research/810
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