In an unpublished opinion, the Michigan Court of Appeals upheld in B&B v. Maddox, 2014 Mich. App. LEXIS 798 (2014) the lower court’s decision that there was no evidence that the outside CPA, had undertaken a fiduciary duty to “keep an eye” on the client’s controller. The court pointed out that the relationship between an accountant and client under Michigan common law is contractual and not normally fiduciary. This opinion also discusses the fine line between contractual claims and tortious claims (e.g., breach of duty).
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