FRP, the liquidators of Patisserie Valerie, are accusing the firm’s former auditors for negligence for not alerting the directors to the fact that the firm had no cash and are claiming £225m from them.
The auditors argue that it is not their place to identify and point out fraudulent behavior
This is a high profile claim brought by the liquidators of Patisserie Valerie against the auditors and, if successful, the case could have wide reaching implications for auditors.
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