Dean Conway Quoted in the Financial Times: “If US Regulators Won’t Hold Auditors to Account, Will the Courts?”

Dean Conway was quoted in a Financial Times article titled “If US Regulators Won’t Hold Auditors to Account, Will the Courts?” The article discusses the debate over accountants’ responsibility to spot fraud and errors, as investors and accounting firms tussle in court over when and how auditors can be held legally responsible for misstated financial statements.

Conway weighs in on a long-running case over BDO’s audit of AmTrust, which was initially dismissed for failure to plead materiality of audit reports. A federal court then reversed course, ruling that such reports do make a material difference to investment decisions. When the U.S. Supreme Court denied cert last year, it effectively favored investors in a move that, according to Conway, “ups the ante for auditors.”

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