Navigating Complex Conflicts of Interest

While potential "conflict of interest" issues often arise because of married clients getting a divorce, other types of "splits" that may involve a dispute among shareholders, LLC members, partners and beneficiaries also present potential conflict-of-interest situations. The latter scenario many times is more complex than a divorce because it involves more people, some of whom the firm may represent individually while also representing the entity. CPAs must ensure that they comply with the AICPA's Code of Professional Conduct ("Code") for addressing Conflicts of Interest [ET 1.110.010].

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