Commscope Credit Union v. Butler & Burke LLP

The North Carolina Supreme Court’s decision stated that independent auditors do not owe a fiduciary responsibility to their audit clients, as a matter of either law or fact, a reversal of the NC Court of Appeals’ former ruling. NCACPA worked on this case for nearly two years, intervening with an amicus brief arguing for reversal in early 2015. This safeguarding of auditor independence was a great win for the profession.

September 2016