When is a bookkeeper liable
A Bookkeeper liability may held liable in certain situations, including:
Errors or omissions:
If a bookkeeper makes mistakes or omits important information in the financial records, they may held liable for any resulting financial inaccuracies or discrepancies.
Negligence:
If a bookkeeper fails to exercise reasonable care and skill in performing their duties, resulting in financial harm to the business or its stakeholders, they may be held liable for negligence.
Fraud or misconduct:
If a bookkeeper engages in fraudulent activities, such as embezzlement, falsifying financial records, or misappropriation of funds.
They can be hold legally and financially liable for their actions.
To visit- https://www.mca.gov.in/
Breach of contract:
If a bookkeepers fails to fulfill their obligations as outlined in a contract or agreement, they may held liable for breaching the terms of the contract and may be subject to legal consequences.
It’s important to note that the extent of a bookkeeper’s liability can vary base on factors such as local laws, the terms of their employment or engagement.
And the specific circumstances of the situation. Seeking professional advice from a legal expert is advisable in cases where liability issues arise.For further details access our website https://vibrantfinserv.com