Best Accounting & Auditing Lawyers in White Plains

About Accounting & Auditing Law in White Plains, United States

Accounting and auditing law covers the rules and responsibilities that apply to accountants, certified public accountants - CPAs, and audit firms that prepare, review, or attest to financial information. In White Plains, which is part of Westchester County in New York State, these rules come from a mix of federal law, New York State law, professional standards, and local municipal requirements. Federal laws and agencies regulate tax reporting, securities filings, and oversight of auditors for public companies. State law governs licensing, professional discipline, and state tax issues. Professional bodies set auditing and accounting standards and perform peer reviews and inspections. For business owners, individuals, and professionals in White Plains, understanding how these overlapping rules work helps when preparing financial statements, responding to audits, dealing with tax controversies, or defending against professional negligence and discipline claims.

Why You May Need a Lawyer

Legal issues in accounting and auditing often blend technical finance questions with regulatory, contractual, and sometimes criminal concerns. You may need a lawyer in any of the following situations:

- You receive a demand letter or lawsuit alleging accounting malpractice, negligence, or breach of contract.

- A regulator is investigating your accounting work or your companys financial statements - for example, the New York State licensing board, the IRS, the Securities and Exchange Commission, or the Public Company Accounting Oversight Board.

- You face a tax audit or tax penalties at the federal or state level and need to manage legal exposure or negotiate settlements.

- A dispute arises with an auditor, client, business partner, or vendor about financial reporting, audit scope, or fees.

- You are the subject of a professional disciplinary complaint that could lead to fines, remedial actions, or license suspension.

- You suspect fraud, embezzlement, or other financial misconduct and need to protect evidence, pursue recovery, or coordinate with law enforcement.

- You need legal advice during mergers, acquisitions, or due diligence where accounting representations and warranties are critical.

Local Laws Overview

Key legal layers that affect accounting and auditing in White Plains include federal, New York State, and local rules. Some of the most relevant aspects are:

- Federal law and standards - The Internal Revenue Code governs federal tax obligations. The Securities Exchange Act and rules administered by the Securities and Exchange Commission apply if you work with public companies. The Sarbanes-Oxley Act and PCAOB rules affect auditor independence and reporting for public-company audits.

- New York State licensing and discipline - CPAs and public accountants must comply with licensing rules administered by the New York State Education Department Office of the Professions - State Board for Public Accountancy. The State sets education, experience, and examination requirements and handles consumer complaints and disciplinary proceedings under New York Education Law and related regulations.

- Professional standards - The American Institute of Certified Public Accountants - AICPA - issues auditing standards and ethical rules for private-company audits, reviews, and compilations. PCAOB standards apply to audits of issuers that are required to register with the PCAOB.

- Tax compliance at the state and local level - The New York State Department of Taxation and Finance enforces state tax laws. Local Westchester County and White Plains municipal rules can affect sales taxes, local business taxes, and licensing requirements for commercial activities.

- Local business and zoning rules - Operating a public accounting firm from a White Plains office may require compliance with city zoning, signage, and business registration rules. Check the White Plains municipal code and local permit requirements when establishing an office.

- Civil remedies and statute of limitations - New York statutes of limitations and case law control time limits for malpractice claims, contract disputes, and other civil actions. Timely action is essential in disputes involving accounting work.

Frequently Asked Questions

What is the difference between accounting malpractice and a simple accounting error?

Accounting malpractice involves professional negligence or breach of professional standards by an accountant or firm that causes measurable financial harm. A simple accounting error may be an honest mistake that is correctable and does not rise to negligence if the accountant acted with the skill and care ordinarily expected. Whether an error is malpractice depends on the facts, the applicable professional standards, and causation of loss.

When should I hire an attorney instead of just consulting my CPA?

Consult your CPA for routine accounting, tax preparation, and compliance questions. Hire an attorney when legal exposure, regulatory investigations, litigation, contract interpretation, privilege concerns, or potential criminal liability are involved. A lawyer can protect legal rights, manage communications with regulators, and coordinate legal strategy with accountants.

How do I respond if the New York State licensing board investigates my conduct as a CPA?

Take the investigation seriously. Preserve all relevant documents, stop altering records, and consult an attorney experienced in professional discipline. Do not volunteer unnecessary information. An attorney can advise on disclosures, negotiate settlements, or represent you at hearings before the State Board for Public Accountancy.

What should a business do if an external audit identifies control weaknesses or fraud?

Promptly assess the findings, preserve evidence, and consider engaging a forensic accountant to investigate. Notify your legal counsel to evaluate regulatory reporting obligations, potential disclosures, insurance claims, and whether to contact law enforcement. Develop a remediation plan to address control failures and document steps taken.

Can I sue an auditor for a bad audit opinion or missed fraud?

Potential claims may include negligence, breach of contract, or fraud, but courts examine reliance, duty, and causation. For private companies, claims are typically against the auditor for failure to exercise reasonable care. For public-company audits, regulatory enforcement and PCAOB processes may also apply. Statutes of limitation and proof burdens are important, so consult a lawyer quickly.

How can I protect myself from tax penalties during an IRS or state audit?

Work with a tax attorney or CPA-qualified tax specialist. Preserve records, respond to audit requests on counsel advice, and consider options like offers in compromise, installment agreements, or administrative appeals. An attorney can help negotiate penalties and represent you before tax authorities.

What happens if an auditor violates auditor independence rules?

Independence violations can lead to regulatory sanctions, loss of license, restatement of financial statements, and civil exposure. For public-company auditors, the PCAOB or SEC may impose penalties. For other firms, the AICPA and state boards may discipline the firm or individual. Seek counsel if you suspect independence breaches in your audit.

Are there local permits or licenses I need to open an accounting firm in White Plains?

You usually must comply with city business registration, zoning, and signage rules. If you provide tax preparation services, you may also need to register for state tax vendor requirements. Confirm local requirements with the White Plains city clerk and Westchester County offices before opening a practice.

How long do I have to file a professional negligence claim against an accountant in New York?

Under New York law, malpractice claims generally must be brought within three years from the date of the alleged malpractice or from when the injury was discovered, subject to tolling and other exceptions. Contract claims may have different time limits. Because deadlines vary, consult an attorney promptly to preserve your rights.

What should I do immediately if I suspect fraud or embezzlement in my company?

Preserve documents and electronic records, limit access to affected systems, and document what you know. Do not confront the suspected party alone. Engage counsel and a forensic accountant to investigate and advise on notifying law enforcement, insurance carriers, and regulators. Taking measured, documented steps helps preserve legal remedies.

Additional Resources

Helpful organizations and government bodies to consult or research include:

- New York State Education Department Office of the Professions - State Board for Public Accountancy - for CPA licensing and discipline issues.

- New York State Department of Taxation and Finance - for state tax obligations and audits.

- Internal Revenue Service - for federal tax questions and audits.

- Public Company Accounting Oversight Board - PCAOB - for inspections and standards involving auditors of public companies.

- American Institute of Certified Public Accountants - AICPA - for professional standards, ethics, and guidance.

- Securities and Exchange Commission - SEC - for public-company reporting and enforcement matters.

- Westchester County government and White Plains municipal offices - for local business regulations, permits, and tax questions.

- Westchester County Bar Association and New York State Bar Association - for lawyer referrals and practice-specific resources, including tax, business, and white-collar defense sections.

- Professional accounting firms and certified forensic accountants - for technical investigations and expert analysis.

Next Steps

If you need legal assistance with an accounting or auditing issue in White Plains, follow these practical steps:

- Identify the issue clearly - Is it regulatory, civil, criminal, tax, or professional discipline? Gather the key documents, engagement letters, financial statements, and correspondence.

- Preserve evidence - Save books, records, emails, backups, and voicemail. Avoid deleting or altering files. Document who knows what and when.

- Seek the right specialist - Look for an attorney with experience in accounting and auditing disputes, professional discipline, tax controversy, securities law, or white-collar defense depending on your situation.

- Use local referral resources - Contact the Westchester County Bar Association or state bar referral services to find qualified counsel in the White Plains area.

- Prepare for an initial consultation - Bring a timeline, copies of relevant documents, and a list of questions. Ask about experience, typical outcomes, fee structure, and strategy.

- Coordinate counsel and accountants - In many cases you will need both legal and accounting expertise. Ensure communication is coordinated and that attorney-client privilege is preserved when appropriate.

- Act promptly - Time limits, regulatory deadlines, and statute of limitations can be short. Early legal involvement often improves outcomes and limits exposure.

Getting informed and moving quickly helps you protect legal rights, comply with obligations, and resolve accounting and auditing problems efficiently in White Plains and beyond.