fb

ACCA SUMMER SALE 20% OFF

Will her next murder mystery novel involve an accountant?

Will her next murder mystery novel involve an accountant?

She is one of the most successful authors in the world and has sold over 100 million books featuring the character Dr Kay Scarpetta. She’s earnt a lot of money from her writing and has estimated earnings from her writing career of £300 million.

In the 4 years to 2009 alone she earned more than $40 million but when she checked her records from her accountants that were looking after her affairs, the famous author Patricia Cornwell found that her fortune was reduced to just $13 million.

As a result of this discovery the author sued her advisors Anchin, Block and Anchin, a New York accounting company for negligence and breach of contract.

Amongst other things she argued that her accountants had borrowed millions of dollars in her name without telling her, that money from the sale of one of her Ferraris was unaccounted for and she had had to unnecessarily pay taxes of $200,000 on the purchase of a private helicopter.

Perhaps the most important claim by the unhappy author was that the negligence caused by the accountants was so distracting that it caused her to miss a deadline for writing one of her books. This missed deadline cost her $15 million in non-recoverable advances and commissions.

One of the fundamental principles of codes of conducts for accountants around the world is “professional competence and due care” and although I haven’t followed this case in detail it does seem that the accounting company involved hasn’t followed this principle particularly well.

Ms Cornwell’s case against her former advisers reached a conclusion this week in Boston over in America and the judge presiding over the case agreed with the author and she was awarded $51 million for breach of contract and negligence.

After the drama of this court case I wonder whether we’ll see one of Patricia Cornwell’s future murder mystery novels involve the victims being accountants that lost a lot of money for one of their clients…

Share this entry

Recent articles

View All Articles
It’s all hands on deck moving from Big 4 to 4 people…
Jun 17, 2025
Title
It’s all hands on deck moving from Big 4 to 4 people…
Excerpt

When multinational companies switch auditors, it’s usually a move that signals routine rotation, cost management, or strategic realignment. […]

From whisky to wickets…
Jun 16, 2025
Title
From whisky to wickets…
Excerpt

Diageo, the global drinks giant behind brands like Guinness, Smirnoff and Johnnie Walker, is reportedly considering a sale […]

“Just Build It” – the Nike LEGO collaboration
Jun 12, 2025
Title
“Just Build It” – the Nike LEGO collaboration
Excerpt

Nike and LEGO are teaming up to launch co-branded products and experiences aimed at inspiring kids through active […]

Laziness and intelligence.
Jun 12, 2025
Title
Laziness and intelligence.
Excerpt

Whilst a lot of you won’t admit to being lazy (and I’m sure most of you aren’t in […]

The road to electric cars is full of potholes…
May 28, 2025
Title
The road to electric cars is full of potholes…
Excerpt

The electric vehicle (EV) market has seen tremendous growth in recent years, with major car manufacturers and startups […]

Is the stage set for airline pricing at the theatre?
May 26, 2025
Title
Is the stage set for airline pricing at the theatre?
Excerpt

Imagine paying £300 for a theatre ticket, only to find there’s more to pay if you want to […]

WeightWatchers files for bankruptcy as drugs take over…
May 12, 2025
Title
WeightWatchers files for bankruptcy as drugs take over…
Excerpt

Weight-loss drugs like Ozempic and Wegovy have revolutionised the weight management market, leaving companies which were once dominant […]

A whole new world: Disney’s Middle East move
May 08, 2025
Title
A whole new world: Disney’s Middle East move
Excerpt

The Walt Disney Company has announced its first-ever theme park in the Middle East, set to be built […]