Courses

Surgent's Professional Liability Concerns for CPAs

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Member Price: $0.00 Non-Member Price: $0.00

Date/Time:: Jun 28, 2021, 2:00pm–4:00pm
Developer:: SURGENT MCCOY SELF-STUDY CPE, LLC
Level:: Basic

In spite of efforts to ensure engagement quality, many CPA firms find themselves periodically facing professional liability concerns. It is critical that firms understand the most common causes of litigation claims and how they can protect themselves against them.

In this course, we'll explore the most common claims faced by CPA firms of all sizes, as well as common defenses strategies and the various methodologies of resolving the claim process. The course will emphasize best practices in avoiding claims, analysis of recent court decisions, and exposures related to new and emerging claims, including cannabis, the Wayfair decision, the CARES Act, and COVID-19.

Objective

Identify key areas of litigation exposure for CPA firms
Recall best practices in claims and litigation avoidance and management
Identify common defense strategies for CPA firms when facing processional claims
Recall new and emerging issues in CPA litigation
Understand being countersued when suing for fees
Advise both sides of a deal
Get involved in deals with clients
Write engagement/retainer letters and disengagement letters
Understand the applicable duty of care and corresponding damages

Highlights

Common claims against CPAs
Understanding the statute of limitations
The private defense theory
The pros and cons of jury trials
Alternative dispute resolution processes
Civil vs criminal litigation

Designed For

Accounting and auditing practitioners at all levels involved in the quality and risk management process at their firms

Prerequisite

Experience in accounting and attestation

Advanced Preparation

None