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When to Use Mediation and Arbitration

A man talking to two employees behind a desk

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

Tax Season Documentation Tips

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

Six Risk Management Mistakes CPA Firms Make

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

5 Warning Signs of a Claim

Even when covered by insurance, claims can have a significant impact on your practice in terms of time, money, professional reputation, and peace of mind. By knowing the warning signs of a claim, and calling your risk advisor early on, you can help minimize the impact of lost billable hours, revenue and sleep. What are … Read more