Professional Liability

We represent accounting firms in high stakes regulatory matters and litigation. Our attorneys understand the applicable professional standards, monitor legal developments on a weekly basis, and know how to defend professionals at trial. In the last decade, King & Spalding has handled more than 400 matters involving large accounting firms, including audit, consulting, and tax matters. 

In recent years, King & Spalding has been lead counsel in four auditing malpractice cases that have gone to jury trials, three of which had potential exposure greater than $1 billion. Two of those cases resulted in complete defense verdicts and two settled during trial. Although we stand ready to take any matter to trial, we also work with our clients to seek the most favorable resolution, taking into account all of the client’s concerns, including reputational and institutional interests.

We also regularly represent accounting firms and their professionals in regulatory investigations and enforcement proceedings. Partners in our group have handled more than 100 investigations and enforcement proceedings in the last ten years, successfully dealing with, among others, the PCAOB, SEC, DOJ, OCC, FDIC, CFTC, FTC, HUD, HHS, IRS, Senate and House committees, the New York Attorney General’s Office, the Florida Department of Financial Services, and various state agencies and accountancy boards.  Our team includes former senior SEC and DOJ attorneys and a former PCAOB associate director.