As shared in the November 25 issue of Member Advantage, a North Carolina appellate court has ruled North Carolina accounting firms owe a fiduciary duty to their independent audit clients. Since that time, the Court denied a petition for re-hearing the case. NCACPA, along with the AICPA, officially filed an amicus brief on the issue today, January 13. A copy of the brief can be found at this link.
Because of the far-reaching implications of the Court’s ruling, amicus briefs are being filed by the North Carolina Chamber, and Dixon Hughes Goodman, LLP, Cherry Bekaert, LLP, and CliftonLarsonAllen, LLP.
As information becomes available on the Court’s actions, the Association will provide updates.