Full text of the opinion in RBS v Bannerman issued by the Scottish Courts on 23 May 2005, following a reclaiming motion and cross-appeal.
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Auditors’ duties and liabilities
Practical information and guidance on the legal duties and liabilities of auditors. Includes references to relevant legislation, as well as landmark cases such as Caparo Industries plc v Dickman.
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Completing the audit and reporting
A chapter on the completion phase of an audit. Covers subsequent events, going concern, written representations, audit finalisation and review, evaluation of uncorrected misstatements, and reporting.
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Caparo: the objects and scope of the auditor's duty of care in tort
A chapter examining the case of Caparo Industries Plc v Dickman and its implications for the extent of liability of auditors in English law.
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Applications of the Caparo principle
A chapter on how the principle established in the case of Caparo Industries Plc v Dickman has been applied in subsequent cases.
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Breach of duty and the auditor's standard of care
A chapter on the auditor's duty and standard of care. It begins with a general overview, before moving on to consider some of the most significant specific aspects of the standard of care expected of an auditor.
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Scope of auditor's duty – for what losses is the auditor liable?
A chapter on auditors' potential liability for losses suffered in consequence of their breach of duty. Includes extensive references to relevant case law.
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Disclaimers and exclusions of liability
A chapter on the ways in which accountants may manage the extent of any potential liability that they might incur to their clients or to third parties. It covers the use of disclaimers in reports, the production of ‘hold harmless’ letters, the incorporation of exclusion or limitation clauses in engagement letters, and more.
Articles and books in the ICAEW Library collection
The collection of the ICAEW
Library & Information Service includes a range of articles and books on the Bannerman case and the issues surrounding it. A selection of titles covering this topic is set out below.
Preparing audit reports, 7th ed.
A practical guide to preparing audit reports within the UK legal framework, with special reference to the use of ‘Bannerman paragraphs’.
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