Accountant's Liability: What Every Accountant Should Know

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 Objective:

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:

Brian F. Huebsch is a tax attorney and director with the Denver law firm of Ireland Stapleton Pryor & Pascoe, PC. During his 20-year practice he has represented hundreds of taxpayers in resolving civil and criminal disputes with federal, state, and local taxing authorities, as well as representing members of the accounting profession in all manners of disciplinary proceedings and malpractice claims. He earned his bachelor's degree at the University of California Santa Cruz and law degree at the University of Denver College of Law. He is a sought-after lecturer for continuing professional education seminars and is a past adjunct professor at the University of Denver Graduate Tax Program.

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