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Accountants Liability: Balancing Risk and Reward (Tax Focus) Logo aicpa

  Free |   AICPA |   20 May 2020 |   Regulatory Ethics |   AICPA Store
Who Will Benefit?
  • All tax practitioners
Key Topics
  • Claim data of the AICPA Professional Liability Insurance Program
  • Practice management:
    • Firm culture and going to market
    • Client and engagement acceptance
    • Engagement letters
    • Client and engagement continuance and termination
    • Billing
  • Data security
  • Tax services:
    • Risk management issues related to tax services
    • Addressing "hiccups"
    • Documentation
  • Consulting services:
    • Risk management issues related to consulting services
    • Addressing "hiccups"
    • Documentation
Learning Objectives
  • Understand how to assess the professional liability risks of new and existing clients and services in relation to the firm’s risk appetite.
  • Be aware of claim data by area of practice and understand implications for the firm.
  • Assess how risk changes as a result of new information, client action (or inaction,) or other events that arise during a tax or consulting engagement.
  • Learn strategies to respond to those changes in risk to help maintain alignment with the firm’s risk appetite.

Identify and evaluate risk

"Which clients should I engage with?" "What services will I provide?" "How will I deliver those services?" Every decision a CPA makes, and every action a CPA takes, has risk implications. The benefits of each decision made must be balanced with its professional liability risk. In this webcast, you will learn how to identify and evaluate the risk implications of your decisions and learn strategies to respond based on your firm’s level of risk tolerance.

Join the AICPA and CNA, the endorsed underwriter for the AICPA Professional Liability Insurance Program, for a panel discussion about professional liability exposures arising from the delivery of tax services. This interactive webcast will provide you with information on how to assess and respond to the professional liability risks that arises from the decisions you make in your practice every day.

In addition to earning CPE credit, 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.

Please Note: Professional liability premium discounts will only be applied for viewing this webcast once. Multiple viewings will not result in the application of multiple discounts.

Topics covered:
  • Firm practice management: Technical: Firm operations, Foundational
  • Tax: Technical: Practice management & professional standards, Foundational