Wilson Elser is proud of its reputation as the preeminent defense litigation firm in the United States. For 45 years, our litigators have prevailed on behalf of accounting firms and related entities. We work closely with carriers to retain many of the nation’s foremost expert witnesses, mediators, arbitrators and electronic discovery consultants. The insurers with whom we work appreciate our philosophy of fighting hard while avoiding wasted effort. We intelligently and aggressively defend parties in malpractice lawsuits and against claims by third-party users of accounting firm services involving a broad range of claims. These include audit failures, security laws claims, failure to detect embezzlement and fraud, providing advice regarding allegedly faulty tax or estate planning and improperly valuing businesses.

Our reach extends to state and federal jurisdictions nationwide. As noted, we also represent accountants in arbitrations and mediations and before the ethics committees of professional organizations.

In addition to malpractice lawsuits, our attorneys handle many types of commercial litigation that involve the accounting profession, including restrictive covenant litigation and partnership disputes. For example, we represent clients in business disputes with competitors, contract disputes with vendors and landlords, enforcement of restrictive covenants and dissolution proceedings.

Apart from malpractice and commercial litigation, our attorneys help clients respond to subpoenas in connection with grand jury investigations, criminal trials and litigation – areas often fraught with peril for the accounting profession.

Our depth of experience relative to accounting firms and the suits brought against them enables us to skillfully advise on managing risk. We specifically address matters involving federal securities regulations, ERISA, compliance with professional standards and regulatory mandates, and best practices.

Our attorneys are adept at crafting engagement letters that avoid potential trouble spots and unambiguously define scope of duties. We also prepare clear, effective disengagement letters that decrease the potential for malpractice suits. We advise on communications between predecessor and successor auditors, document retention requirements and letters withdrawing reports.

We work closely with clients to create a culture that prevents lawsuits through analysis and strengthening of an organization’s operations – from document retention to timekeeping to client selection and disengagement – and provide training seminars that address such key topics as risk management, ethics and practice management. Our attorneys frequently are requested to present on these and related topics to insurers and accounting firms alike.

New and often complex regulations translate into more-aggressive scrutiny of our clients and resulting increases in exposure. Indeed, failure to keep pace with the continual changes in regulatory compliance can lead to drastic, even fatal consequences. Practice attorneys interact with regulatory agencies, such as the SEC, the PCAOB and the FASB. Our familiarity with emerging rules, issues and procedures allows us to better protect our clients’ interests should they become the subject of inquiries.

We represent accountants in ethics proceedings before the AICPA, the IRS, the SEC, the PCAOB and professional societies and state licensing boards. We have handled these matters from initial inquiry letters to dispositive hearings on the merits.

An increasingly “flat” and interconnected world has given rise to international accounting associations and networks. Having access to the extensive resources of these organizations is often required to properly service an account.

Wilson Elser is intimately familiar with these international accounting associations and networks, having collaborated with them for more than three decades. We have served them in various capacities, including:

• Assisting in their formation or reorganization
• Advising on membership issues
• Minimizing potential vicarious liability
• Addressing intellectual property issues
• Creating internal documents, such as charters,
  bylaws and agreements
• Effectively acting as general counsel and/or legal department when neither exists
• Counseling individual members on mitigating risk relative to client-specific matters and general business practices.

Wilson Elser frequently is involved in the business transactions of accounting firms, which have escalated rapidly as a function of increased competition throughout the industry. Typically involving mergers, joint ventures with nonprofessional firms and practice divestitures, they require experienced drafting of shareholder, partnership, employment and other agreements.

Drawing from deep experience and national resources, Wilson Elser represents accounting firms in mergers and dissolutions, always in the broader context of their business strategies. We negotiate the terms of these transactions and cement them with proper documentation.

We also assist in the creation of limited liability partnerships and professional corporations. For accounting firms seeking to expand their operations, we assist in registering practices in additional states. We also address litigation matters in relation to partners and restrictive convents. Since these transactions frequently involve multiple jurisdictions, our national scope is a valuable resource in efficiently and appropriately advising our accounting clients.