Part 1: Who Do You Think You Are, and What Are You Doing?
In the world of accounting malpractice litigation, the answers may not be what you think. And the answers just might keep you out of trouble. The presenter will share his insights from the thousands of CPA malpractice claims he has managed. Attendees will:
- Discover jury/public views of financial statements, long-term clients, and conflicts of interest
- Hear about the real-world impacts of these views and what you can do about them
- Take home some risk avoidance ideas that are practical and easily implemented
Part 2: A 50-Minute Risk Stress Test
Some critical risk situations will be posed and discussed. Attendees will get the most out of this presentation by doing the pre-work and responding to the posed situations before the presentation. Be in a position to assess your and your firm’s risk avoidance practices. Questions to consider:
- How robust are your pre-engagement risk assessment skills?
- Can your engagement letter practices improve ... and simplify?
- Are all risk stress engagements visible to management?
- Does the firm promote appropriate documentation practices?
- Are there firm culture issues that promote or discourage risk avoidance?
Part 3: True Course: The Definitive Guide for CPA Practice Insurance
The co-author of True Course will discuss what you really need to know about insuring professional, employment, RIA and cyber liability. This includes how to protect yourself from opportunistic insurers, and how to thwart them from denying coverage. We will discuss areas of your practice that may trigger an exclusion and what endorsements you should ask for. We will also discuss why HR, RIA and IT services likely fall outside the coverage intent of your policy.
Part 4: Cyber: This Risk Could Shut Your Doors
This will be a discussion regarding your emerging cyber risk and how to deal with the inevitable. This presentation includes what all CPA firms need in a cyber policy and what options to consider. Presented are critical steps to build a cyber emergency response plan, how to deal with all the regulations, and client fallout should a cyber incident occur. We will also review the sequence of events following a hack. Your presenter is the co-author of Locked On: The Definitive Guide for CPA Cyber Insurance.
Computer software & applicationsProgram Level: