 Rowan was a chartered accountant in a partnership that audited a particular large trading company. The audit area failed to detect some significant fraud committed by the company principals. When the company went into liquidation, an action was commenced against Rowan’s partnership for damages. Fortunately Rowan owned very little in his name, preferring to keep assets well out of his (and his creditor’s) legal reach. When his wife and father both died in the one year, his strategy fell apart. Both left assets to him personally in their Wills. Those assets were left totally exposed.
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