An accountant or other professional adviser who assumes responsibility for giving specific investment advice, and who knows the client is relying on that advice, may owe a continuing duty of care that extends to alerting the client to post-investment developments that create an avoidable risk of financial loss, particularly where the adviser possesses information that could enable the client to avoid the risk. This duty does not create a general obligation to monitor clients' investments, but arises in particular circumstances involving assumption of responsibility, reliance, knowledge of the client's specific objectives, and the availability of a simple mechanism to communicate the relevant information.
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