In the professional liability world, audit claims are relatively infrequent but exceptionally expensive.
Firm operations
Blocking and tackling: Engagement letters for tax compliance services
Failure to have a proper engagement letter can lead to tax claims being asserted against firms. Learn how to help lower your risks.
QM is here: Advice from early adopters
Firms will need to learn from mistakes, fine-tune systems, and adapt to new ways of thinking about quality.
CPA firm funding — no one right answer
From tech investments to partner buyouts and private equity, CPA firms are evaluating capital needs in a changing environment. Explore the latest trends in CPA firm funding.
Are you prepared for the cost of a data security incident?
Accounting records are a tantalizing target for hackers. Learn about the risks, response strategies, and best practices to help safeguard your business.
Building a better firm: How to pick the proper technology
Automation and other technologies are essential for business model modernization. Experts offer tips on choosing the right tech.
5 essential tactics of future-ready firms
As the accounting profession continues to evolve at an ever-increasing rate, firm leaders need clarity around what to do to be future-ready. Discover five essential strategies to get ahead in this JofA article.
7 retirement tips for small firm CPAs
Former firm owners share advice on how to exit the profession after a fulfilling career and set up the practice for success.
Start risk management with employee onboarding
Include risk management training during new employee onboarding to
help establish their risk
management mindset from
Day 1.
Professional liability risk stemming from CPA firm acquisitions — part 2
Disparity in processes can lead to heightened risk.
Building a better CPA firm: Getting governance right
One firm’s example shows what’s important to consider when firms transform their governance models.
Professional liability risk stemming from CPA firm acquisitions – part 1
Failure to perform sufficient due diligence could lead to professional liability claims, as highlighted in the following scenarios.
Form 1065: Pay attention or pay up
Along with the changes brought about by the Bipartisan Budget Act of 2015, the IRS’s focus on partnership returns appears to be undergoing a renaissance. Understand how the environment is changing and how you can be prepared.
Changes at the firm? What to do with working papers
In the event of a malpractice claim or a regulatory inquiry, you may need to produce working papers to support your defense.
Employee ownership and taxes: Why firms are choosing ESOPs
Converting to an employee stock ownership plan offers firms tax benefits and an alternative to private equity.
Should I disclose my use of gen AI to clients?
Informing clients about the incorporation of generative AI can enhance transparency and trust, ultimately strengthening the client-accountant relationship.
The risk of providing unintentional financial advice
Clients often seek their CPA’s advice on potential investments. Failure to respond properly can leave the CPA subject to lawsuits.
Retired partners: A liability risk?
A retired partner may expose a CPA firm to professional liability risk if clients believe the former partner still speaks for the firm and rely upon that individual’s advice.
Activities to ease busy season stress
CPA firms have numerous options to relieve stress and show appreciation.
Building and running an accounting podcast
Two professors explain how they produce their Journeys of Accountancy podcasts, which feature successful accountants in a variety of careers.
Features
SPONSORED REPORT
Preparing clients for new provisions next tax season
As the 2025 filing season approaches, H.R. 1 introduces significant tax reforms that CPAs must be prepared to navigate. These legislative changes represent some of the most comprehensive tax updates in recent years, affecting both individual and corporate taxpayers. This report provides in-depth analysis and guidance on H.R. 1.
