Peer review deficiencies and professional liability claims result from both audit and nonaudit services. This course will provide best practices for avoiding legal liability and quality control concerns for a wide variety of professional services offered by public accountants.
- Describe the nature of risks faced when performing a variety of professional services for clients
- Explain how to mitigate risks faced by all CPAs in performing professional services
- List best practices for maintaining quality control for all professional engagements
- Differentiating risks faced when performing various levels of professional services, such as audits, reviews, compilations, preparing financial statements, bookkeeping, tax return preparation, and similar
- Best practices for preventing quality control concerns that could lead to peer review deficiencies or malpractice claims
- Establishing an understanding with the client to minimize misunderstandings as to the nature and scope of engagements
- Explain situations when independence should be appropriately safeguarded when performing nonattest services
Professional Area of Focus
Who Should Attend
Anyone who works in public accounting.
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Avoiding Peer Review Deficiencies and Professional Liability in Public Accounting