In Professional Liability,
Practice Management, Engagement Letters
Client engagement letters that define each party’s responsibilities are a primary tool for managing risk and important in avoiding and defining malpractice claims.
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In Professional Liability,
Practice Management, Engagement Letters
Accountants know the importance of reaching an understanding with clients regarding professional services to be performed prior to the start of the engagement.
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In Professional Liability,
Practice Management, Engagement Letters
Indemnification or hold harmless clauses typically provide that a client will indemnify or hold the CPA firm harmless in the event the firm sustains a loss resulting from claims arising from the CPA’s work.
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In Professional Liability,
Practice Management, Privacy and Security
An increasing number of accounting firms have experienced data security breaches. Consider the following examples and ask whether your firm may be vulnerable to similar scenarios:
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In Professional Liability,
Practice Management, Privacy and Security
With technology playing a bigger role in business today, escalating network claims and privacy breaches can represent serious risk exposures for your firm.
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In Professional Liability,
Practice Management, Privacy and Security
The concept of going paperless has been around for a long time, but CPA firms of all sizes are increasingly adopting a more virtual operating environment and taking advantages of the benefits allowed by Internet
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In Professional Liability,
Practice Management, Client Engagement Acceptance and Continuance
Principals of CPA firms are aware that publicly traded companies and their auditors are subject to regulation by the Public Company Accounting Oversight Board (PCAOB) and the Securities and Exchange Commission (SEC).
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In Professional Liability,
Practice Management, Client Engagement Acceptance and Continuance
Based upon claim experience of the AICPA Professional Liability Insurance Program, we have learned that accountant malpractice claims often arise in engagements in which the CPA believed actions were taken in the best interests of the client, but the related liability risks to the accounting firm were ignored.
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In Professional Liability,
Practice Management, Client Engagement Acceptance and Continuance
The success of not-for-profit organizations is based in part, on their compliance with applicable laws and regulations and maintenance of the trust and confidence of benefactors and other funding sources.
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In Professional Liability,
Practice Management, Records
Take a deep breath. Prop up your feet. Pour yourself a drink. You survived another tax season.
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In Professional Liability,
Practice Management, Records
When a CPA firm undergoes an ownership change, the question of who should retain the existing engagement working paper files and work product files is often raised
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In Professional Liability,
Practice Management, Other
Quality is not an act, it is a habit.
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In Professional Liability,
Practice Management, Other
What are the most common malpractice claims for your firm’s area of practice? Find the answers in these one-page reports that include the most common causes of loss, provide specific risk control advice and a brief case study for your specific area of practice.
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In Professional Liability,
Practice Management, Other
As the nation’s #1 provider of professional liability insurance for Certified Public Accountants, CNA’s risk control team has the knowledge and experience that can be relied upon to assist you both in managing a CPA firm’s professional liability risk exposures and protecting its reputation.
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