Accountant's Liability: What Every Accountant Should Know (753)

General Description:

This course will provide a thorough understanding of the ever-increasing risks, liabilities, and exposures inherent in the practice of accountancy. To gain sensitivity to lawsuits commonly brought against accountants, participants will analyze numerous common law and statutory law concepts. The accountant-client relationship will be examined, focusing on client-privileged communications. Various standards of practice will be examined and discussed. Tips on risk management will be provided, together with an analysis of accountant malpractice lawsuits and professional malpractice insurance.

Learning Objectives:

After completing this course the participant will be able to:

• Compare and contrast the sources from which an accountant's professional standards may arise.
• Compare and contrast the legal predicates of potential liability, including breach of contract, professional negligence, breach of fiduciary duty and fraud.
• Compare and contrast common-law and statutory bases of potential liability.
• Write effective provisions in engagement letters to reduce potential liability.
• Apply current litigation trends to mitigate personal risk and ensure sufficient malpractice coverage.
• Analyze, compare, and contrast types of malpractice insurance policies to ensure proper coverage.
• Apply sound engagement policies for both tax and audit engagements to minimize liability risks.
• Apply current ethical guidelines in all engagements to minimize risk of malpractice and regulatory complaints against the practitioner and firm.

Instructors:

Steven R. Anderson is a founder/shareholder in the law firm of Anderson & Jahde, P.C. His practice emphasizes the areas of civil and criminal tax controversies, accountant malpractice/liability/licensing, and complex business litigation. Mr. Anderson is an adjunct professor at the University of Denver Graduate Tax Program and is a top-rated continuing education instructor. After practicing as a CPA, he received his J.D. from the University of Denver College of Law.

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