This is a notice for site visitors.
This is a notice for site visitors
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Do Not Lose Coverage for Your Prior Acts! Most Accountants Professional Liability insurance policies are “claims made and reported” policies. Two important features of claims made and reported policies include: The insurance applies only to claims that are first made and reported to the insurance company during the policy period. The insurance provides coverage for … Read more
CPA firms are often uncertain about whether or how to respond to a subpoena, as they also need to comply with a number of rules and regulations that are intended to protect client confidentiality. The following Q&A focuses on understanding the nature of subpoenas and how CPA firms can minimize their professional liability exposures when … Read more
Alternative dispute resolution (ADR) can be an effective way to reduce the time, expense and stress of resolving professional liability conflicts when used in the appropriate circumstances. Mediation and arbitration are forms of ADR that can reduce the cost and the emotional roller-coaster ride of disputes. The major distinction between these two ADR solutions is … Read more
By Duncan B. Will, CPA/ABV/CFF, CFE Whether due to the “great resignation,” the “great reassessment,” or the “baby boomer departure,” the CPA profession is … Read more
CPAs are considered to be experts in documentation by jurors (who are members of the public). 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 … Read more
Managing CPA liability risk exposures is a complex process, and it’s easy to underestimate the potential for risk along the way. The following six mistakes can be avoided by being aware and taking the right steps. 1. Not discussing questions about the insurance application with your underwriter or agent. Whether it’s for a new or … Read more
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