Articles
The Janus Decision: Supreme Court limits liability for fraud
The U.S. Supreme Court recently ruled in the Janus Capital Group case that the legal entity or person actually making an allegedly fraudulent statement in a public securities offering, and only that person, can be held liable under Securities and Exchange Commission (SEC) Rule 10b-5, in a private securities fraud action.
Humbling Moments
A word to the wise: 'Put it in writing'
The silent approach to communication may be fine for a mime, but it can lead to trouble for accountants. While the importance of engagement letters is stressed repeatedly, written communication is often also advisable during the course of the engagement. One area where lack of written communication repeatedly opens the door for claims is preparation of estate tax returns.