Description:

In today’s litigious business environment, even the best professional intentions can result in unfavorable consequences to accountants.The fallout from a professional liability lawsuit often resembles a "domino effect" as it may only take one claim for your hard-earned reputation, your firm - and your financial livelihood - to come tumbling down. This training is created by CPAs, defense attorneys,litigation experts and risk control professionals to help you minimize malpractice risks. It also provides you with sound risk control tools you need to incorporate into your daily practice to help safeguard your firm and your most important asset - your livelihood.

Objectives:

• Learn to apply risk control techniques to help you avert malpractice risk in today's litigious environment
• Obtain a better understanding of claim allegations against accountants especially those resulting from good intentions
• Take away practical strategies to help minimize enterprise malpractice risks in your day-to-day practice
• Learn risk control strategies and techniques to help keep you ahead of today's litigious business challenges
• Find out how even the best intentions can result in claim

Major Topics:

• Analyze claim statistics by area of practice
• Present a real-life drama exploring how new client acceptance could evolve into a claim
• Discuss how common claim allegations may emanate from good intentions and how to help lessen the risk
• Illustrate the use of elements of a system of quality control as risk controls
• Examine specific risk issues related to various areas of practice
• Learn about privacy and security risks of new technology and social media including, how to respond to a data security breach
• Uncover current risks surrounding financial advisory services

Who Should Attend:

Professionals who want to minimize malpractice risks

Prerequisite:

None

Advanced preparation:

None