Five reasons why CPAs believe they will never be sued

CPAs generally take every precaution feasible to ensure error-free work, but that may not be enough to ensure a firm's security. In our litigious society, it's wise to be prepared for that unexpected bump in the road. To help put this in perspective, here are five common reasons why CPAs don't think they will be sued:

  1. I only do tax work and have a low-risk practice.

January Tip - Documentation Tips for Tax Season

Jurors (who are members of the public) generally consider CPAs to be experts in documentation, and falling short of that expectation when faced with a liability lawsuit may be viewed by the public as negligent and below the standard of care for the services rendered.

The following are some documentation tips to follow for tax season:

  • Always document significant meetings, communications and follow-up. Follow up with written communication in the following circumstances, such as:

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