Rihanna has dropped the lawsuit in which she accused her accountants of mismanaging her funds.

The singer sued Berdon LLP back in 2012, accusing the accounting firm of grossly mismanaging her money and leaving her with little of the millions she has earned through her career.

It has now been reported that the case has been settled out of court and is now closed.

No details of how much the settlement might have been for have been revealed as yet however it was apparent that the accounting firm were extremely reluctant to be shelling any money out to the singer.

Previous reports have stated that Rihanna claims that at the beginning of 2009 she has $11 million in cash but also claims that $9 million of that was mishandled by the firm.

Her accountants have defended themselves saying that the singer is financially inept and lawyers defending them said: “Peter Gounis had no role or responsibility for how much money was made and/or spent.”

They also noted that her 2010 Last Girl on Earth Tour was a “money pit”.

“The tour was what she wanted, just as the exorbitant amount of expensive clothing and other purchases she squandered her money on were.

“At the end of her two-year spending spree she had rooms of shoes, clothing and jewellery and fond, if not hazy, memories of extravagant parties, but little cash.”