Professional Liability: Balancing Risk and Reward — A&A Focus
Professional liability exposures can arise when providing audit and attest services. In this webcast, you'll learn how to identify and evaluate the risk implications of your decisions and strategies for a response that aligns with your firm’s level of risk tolerance.
Format
Webcast
NASBA Field of Study
Regulatory Ethics
Level
Basic
CPE Credits
4
Instructor
Nick Magone, Howard H. Fine, Sarah B. Ference, Jennifer H. Elder
Availability
3 months
Product Number
WC3164244
How to understand and balance risk and reward
You may have asked yourself: Which clients should I serve? What services will I provide? How will I deliver those services?
Every decision you make has risk implications. The benefits of each decision must be balanced with its professional liability risk.
During this interactive webcast, you will hear a panel of experts discuss professional liability exposures that can arise when providing audit and attest services, and you will learn how to assess and respond to the professional liability risks that arise from the decisions you make in your practice every day.
In addition to earning CPE credits, CNA policyholders may earn up to a 10% premium credit for three consecutive years on their AICPA Professional Liability Insurance policy. Please consult your agent for further details regarding eligibility.
Key Topics
- Claim data of the AICPA Professional Liability Insurance Program
- Practice management:
- Firm culture and going to market
- Client and engagement acceptance
- Engagement letters
- Client and engagement continuance and termination
- Billing
- Data security
- Audit and attest services:
- Risk management issues that arise during planning and fieldwork
- Addressing “hiccups”
- Documentation
- Consulting services
Learning Outcomes
- Recall how to assess the professional liability risks of new and existing clients and services in relation to the firm’s risk appetite
- Identify claim data by area of practice and understand implications for the firm
- Recognize how the level of risk changes as a result of new information, client action or inaction, or other events that arise during an attest or consulting engagement
- Identify strategies to respond to those changes in risk to help maintain alignment with the firm’s risk appetite
Who Will Benefit
- Accountants and finance professionals
- Auditors
Group ordering for your team
2 to 5 registrants
Save time with our group order form. We’ll send a consolidated invoice to keep your learning expenses organized.
Start order6+ registrants
We can help with group discounts. Email client.support@aicpa-cima.com
US customers call 1-800-634-6780 (option 1)
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