SCC decision doesn’t broaden duty of care

A recent Supreme Court of Canada decision that found the auditor of a company’s financial statements was negligent does not broaden the case law surrounding duty of care, says Toronto commercial litigator William Pepall.

The case “affirmed that the purpose of a statutory audit is to permit shareholders, as a collective, to supervise management and make decisions respecting the overall administration of the company,” says Pepall, a partner with Lerners LLP.