Responsibility for losses: liability of professional advisers

There have been a number of claims going through the English courts seeking damages in relation to losses sustained from business decisions taken before the 2008 financial crisis which resulted in losses during that period. In the recent decision of Manchester Building Society v Grant Thornton, the High Court considered the position of a firm of accountants that had accepted that it had a duty of care to the claimant for audit work and that it had breached that duty ([2018] EWHC 963 (Comm)).