Bad billing practices can affect malpractice risk
Billing and collection practices may not be perceived as a professional liability risk issue, but proactively managing this risk is important to more than just a firm’s financial health. Learn why.
Firm operations
How one firm transformed its partner compensation model
A firm leader and one of the firm’s income partners go into detail on how the firm’s approach to partner compensation has created a more unified work environment.
Mitigating employment practices liability risks
Learn about common employment practices liability insurance claims against CPA firms and how to help avoid them.
Lessons for every CPA firm from public audit
Keep a close eye on your internal controls and reduce the risk of regulatory action against your firm.
How the FTC Safeguards Rule may affect your CPA firm
Federal Trade Commission guidelines intended to help protect financial institution customer information may apply to CPAs.
Client breakups can create malpractice risk
When clients divorce, CPAs should take steps to avoid getting caught up in their dispute.
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.
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.
