Indemnification and hold harmless clauses dictate the degree of liability of each party and the extent that each party takes on or shifts risk. Certain courts have found that hold harmless is not distinct and is the same as indemnification, while others have found the duty to hold harmless is broader than indemnification, as it also requires protection against liability.
No-Cost In-House Expertise Utilize our in-house specialists who have an average of 16 years of experience in risk management and average of over 20 years of experience in public and private practice per individual. CPAs can call a General Loss Prevention hotline as well as specialized hotlines focused on the following areas:
- Accounting & Auditing
Before taking any steps to help a client that may have suffered a fraud or misappropriation of assets, ask yourself the following questions:
- Do I possess the requisite professional competence?
- Do I have the necessary experience/qualifications?
- Will my assistance impair my independence and preclude me serving my client’s attest needs?
- Am I conflicted out?