In its unanimous decision in Lavender v. Miller Bernstein LLP released on September 5, 2018, the Court of Appeal for Ontario made it clear that notwithstanding the liability imposed by the Supreme Court of Canada (“SCC”) in the recent auditor’s negligence case of Livent v. Deloitte & Touche, the reasoning of the SCC in Livent will make it rare for an auditor on a limited retainer to be held liable to anyone other than its audit client, such as investors, clients or other stakeholders of the audit client. In Lavender, the Court of Appeal heard an appeal from Mr. Justice Belobaba’s summary judgment ... [more] Full article