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dc.contributor.authorRajapakse, Pelma
dc.contributor.authorGardner, Jodi
dc.date.accessioned2017-09-07T02:30:26Z
dc.date.available2017-09-07T02:30:26Z
dc.date.issued2015
dc.identifier.issn1838-1413
dc.identifier.doi10.21102/graf.2015.03.61.12
dc.identifier.urihttp://hdl.handle.net/10072/103755
dc.description.abstractThis paper considers the legal liability regime for financial advisors, namely certified public accountants and auditors, in Singapore and Australia. Examination of the comparative aspects in which lawsuits against financial advisors are commenced provided an analysis of the legal and commercial environment and the regulatory regimes of the two common law jurisdictions considered. A qualitative, legal case-study method was used to meet the following objectives: (i) description of background information for the lawsuit, (ii) explanation of information collected, and (iii) analysis of the information in the context of the research topic. The law cases were evaluated to consider a range of issues including the court jurisdiction, main issues contributing to the litigation, types of alleged errors and findings of liability. Consequently it appeared that even though the two countries have similar regulatory regimes for financial advisors, there were a surprising range of differences in the legal and commercial environment in which claims were brought by parties. These differences highlighted the positive and negative aspects of the varying approaches and allowed the paper to make a range of recommendations for Australia, Singapore and the accounting profession at large. These recommendations include a strict approach to legal liability for advisors, enacting measures to limit the liability of advisors and the requirement and importance of good corporate governance approaches.
dc.description.peerreviewedYes
dc.languageEnglish
dc.language.isoeng
dc.publisherWorld Business Institute
dc.publisher.placeAustralia
dc.relation.ispartofpagefrom176
dc.relation.ispartofpageto202
dc.relation.ispartofissue1
dc.relation.ispartofjournalGlobal Review of Accounting and Finance
dc.relation.ispartofvolume6
dc.subject.fieldofresearchLaw not elsewhere classified
dc.subject.fieldofresearchAccounting, Auditing and Accountability
dc.subject.fieldofresearchBanking, Finance and Investment
dc.subject.fieldofresearchcode180199
dc.subject.fieldofresearchcode1501
dc.subject.fieldofresearchcode1502
dc.titleLegal Liability for Financial Advisors in Australia and Singapore: A Comparative Perspective
dc.typeJournal article
dc.type.descriptionC1 - Articles
dc.type.codeC - Journal Articles
dc.description.versionVersion of Record (VoR)
gro.facultyGriffith Business School, Department of Accounting, Finance and Economics
gro.rights.copyright© 2015 World Business Institute. The attached file is reproduced here in accordance with the copyright policy of the publisher. Please refer to the journal's website for access to the definitive, published version.
gro.hasfulltextFull Text
gro.griffith.authorRajapakse, Pelma J.


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