Managing Risk: Practical Tools & Tips To Help CPAs (Audit & Attest Services Focus)
Learn professional liability exposures that arise from A&A services. This interactive webcast will provide you with information to identify, assess and mitigate risks that could arise from your decisions.
Format
Webcast
Date
Jun 18, 2024
NASBA Field of Study
Regulatory Ethics
Level
Basic
CPE Credits
4
Instructor
David Adams, Sarah B. Ference, Jennifer H. Elder
Availability
Product Number
WC4537677
CPAs face an ever-present threat of malpractice claims regardless of the services performed. While impossible to eliminate all risks, accountants can, with forethought, identify and implement practical techniques to help mitigate the risk of a professional liability claim. This course will discuss day-to-day risk management protocols related to firm practice management and the delivery of services. Tools will also be provided for CPA firms to leverage related to client acceptance, engagement letters, client communications and more.
In addition to earning CPE credits, CNA policyholders may earn up to a 10% premium credit for three consecutive years on their AICPA Professional Liability Insurance policy. Please consult your agent for further details regarding eligibility.
Key Topics
- Claim data of the AICPA Professional Liability Insurance Program
- Client and engagement acceptance
- Engagement letters
- Fee management
- Client continuance and termination
- Team management
- Firmwide quality control
- Audit and attest services — causes of loss and risk management tips to assist claim defense
- Client accounting services — causes of loss and risk management tips to assist claim defense
- Data security
Learning Outcomes
- Identify how professional liability claims arise related to the delivery of services by CPA firms.
- Recognize risk management tools and techniques related to firm practice management to help reduce the potential for a client dispute.
- Identify practices to incorporate during the delivery of tax, accounting and other services to help mitigate the risk of a malpractice claim.
- Select practical risk management tools and techniques to implement based on specific situations at your firm.
Who Will Benefit
- CPAs and CGMA designation holders
- Auditors and attestation service providers
- Accounting and finance professionals
- Legal personnel
Group ordering for your team
2 to 5 registrants
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