Legal Precedent

Caparo Case
The landmark case of *Caparo Industries plc v Dickman and others* (1990) significantly influenced the realm of audit law by ruling that auditors owe a duty of care to existing shareholders as a collective entity rather than to individual shareholders.
Garner v Murray
A legal precedent established in 1904, critical to determining financial obligations during the dissolution of a partnership, especially when dealing with the insolvency of a partner.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.