Risk Management for Accountants

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Please visit the links below to access sample engagement letters
Personal tax return
S-Corp tax return
Bookkeeping services
Compilation
Review
Audit
Risk management procedures and guidelines for accountants - Provides tips to help you prepare your practice for loss control success
 
Record retention and destruction policy - Provides suggestions for retention timelines and policy
 
"We'll never be sued." Are you sure? - "You've said it; your competitors have said it; and we hear it every day." - Review of professional liability issues
 
Good preparation can be the best defense - "CPAs often find it difficult to both keep up with all of the changes and continue to manage the day-to-day workload." - Review of professional liability issues
 
Pay per (not) view - "Should hired CPAs save company officers and their family members from their own demise?" - Review of professional liability issues
 
IRS loses lawsuit challenging its authority to regulate certain tax preparers - On January 18th, 2013, James E. Boasberg of the U.S. District Court for D.C. granted a Motion of Summary Judgement in which the court ruled that the IRS lacked statutory authority to promulgate or enforce the new regulatory scheme for "registered tax return preparers" created by 76 Fed. Reg. 32,286.

Leading edge guide to risk management strategies for providers of professional services - Our Designed Protection® for Professional Services Firms – Leading Edge Strategies for Effective Risk Management is a Guide for Professional Service Provider and Association policyholders.  This Guide provides information about principles of effective risk management including client satisfaction, billing practices, and prompt and effective action in the event of an error or omission.

The information in this Guide is the product of more than 30 years of experience with underwriting and handling of claims for many types of professional service firms.  We encourage you to read through the Guide and distribute it to your staff members.

Professional service provider liability risk self audit form - A self-scoring questionnaire provides an indication of the strength of your Liability Risk Management program.

Top 10 tips for avoiding liability for professional service providers - A concise, bullet point summary of 10 Liability Risk Avoidance Strategies.

Risk Management Notes - a periodically updated listing of brief introductions to Risk Management Ideas applicable to many kinds of businesses and professional service firms.