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Technical

Accountants Liability - Positioning Your Firm for Success (Audit and Attest Services Focus) Logo aicpa

  $159.00 - 199.00 |   07 Aug 2018 |   13:00-17:00 |   CPE: 4.0 |   AICPA |   Regulatory Ethics |   AICPA Store

How do you view professional liability risk management? An administrative burden? A draw on firm resources? What if you viewed risk management in a different light? Strong risk management practices can help establish a solid foundation for your firm and position it for growth and business success.

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 audit and attest services. This interactive webcast will provide you with risk management practices that, when implemented, can help mitigate the risk of an accounting professional liability claim and may also help improve business performance.

In addition to earning CPE credit, CNA policyholders may earn up to a 7.5% premium credit for three consecutive years on their AICPA Professional Liability Insurance policy. Please consult your agent for further details regarding eligibility.

Learning Objectives

By the end of this webcast, you will be able to:

  • Understand how quality control practices are the foundations for professional liability risk management.
  • Learn ways to strengthen this foundation to improve performance,
  • Be aware of claim data by area of practice and understand implications for the firm.
  • Recognize risk exposures by area of practice and learn risk management strategies to improve service delivery and mitigate risk.

Topics to be addressed include, but are not limited to:

  • Claim data of the AICPA Professional Liability Insurance Program
  • Practice management:
    • Firm culture
    • Client acceptance and continuance
    • Engagement letters
    • Personnel management
    • Billing practices
    • Records requests
    • Client termination
    • Mergers, acquisitions, retirements and practice sales
    • Data security
    • Other practice management topics
  • Audit and attest services:
    • Claim causes of loss
    • Potential plaintiffs
    • Risk management practices
  • Client accounting services
Topics covered:
  • Firm practice management: Technical: Firm operations, Intermediate

Comments/Reflections