Do I really need a new engagement letter for that?
A dually signed engagement letter is always the best way to document agreed-upon services, especially if a disagreement arises.
Firm operations
Ask the Expert: The rise of contactless tax services
John Sapp is the chief revenue officer at Drake Software, one of the largest professional tax software companies in the nation. As a certified public accountant since 1987, he has considerable experience in public and private accounting for the technology industry.
Working with third-party experts
When a CPA firm engages a third party to help a client with an issue that requires special expertise, the firm may still be held liable for deficiencies in the third-party expert’s work. Professional standards outline steps a firm can take to mitigate this risk.
Q&A: The 2 most prevalent cyberthreats for CPA firms
The co-author of the JofA’s Professional Liability Spotlight column discusses common strategies used by cybercriminals and how they can be mitigated.
Cybersecurity risk: Constant vigilance required
These tips can help diminish the likelihood and impact of a cyberattack.
Malpractice claims in 2021 and future predictions
A look at claims against CPA firms in 2021 reveals some changes from prior years and points to future trends in this area.
2022 tax software survey
CPAs assess how their return preparation products performed.
Kovel agreement basics for you and your client
Kovel agreements, where an attorney, rather than the client, engages a CPA, may provide the client greater protection by extending attorney-client and attorney work product privileges to the CPA.
Rogue behavior: Risks your CPA firm should avoid
Claim experience of the AICPA Professional Liability Insurance Program has demonstrated that rogue behavior, especially at the partner level, can lead to professional liability claims.
Is it time to rethink your firm’s physical footprint?
The rise of remote work is an opportunity to evaluate where work gets done.
Why a busy-season debrief has value, and why it’s not just for tax teams
Three CPAs discuss the importance of planning to have a debrief after an intense period of work, whether tax season or a busy sales cycle, in this podcast with transcript.
US sanctions ban provision of accounting, consulting services to Russia
Sanctions in response to the war in Ukraine include a ban on accounting and management consulting services, according to government statements issued Monday.
Small actions, big fallout: Lessons from large claims
Even small decisions or quick conversations may have significant, and expensive, consequences.
FP&A: A new niche — and an expanded definition
An ENGAGE speaker shares six core principles for business and why the abbreviation FP&A means multiple things to him in this podcast episode with transcript.
New strategies to grow the profession’s pipeline
Organizations seeking to identify and hire finance talent can follow the advice in a recent article or further explore a new apprenticeship program detailed in this podcast with transcript.
Tread carefully when using noncompete agreements
Noncompete agreements should be reasonable in scope and narrowly drafted to protect a legitimate business need.
Firm ownership can be intimidating; here’s how to overcome those fears
A CPA firm owner shares some of the fears she overcame, advice to those thinking of opening a firm, and the ways she takes mental breaks in this podcast with transcript.
Unresponsive clients pose a professional liability risk
In addition to creating unnecessary stress for CPAs, clients who fail to respond timely increase a CPA firm’s professional liability risk.
Use of e-signatures for engagement documentation
Case law provides a guide for steps to take to make sure electronic signatures are legally binding.
When and how to raise fees at your firm
Several factors come into play when adjusting rates in order to run a profitable and healthy business.
