ENG2436. Risk Management for A&A Practices: What you can do now to help defend a future malpractice claim (NAA, PRA)

When an attest client goes bankrupt or experiences a large loss, there may be little an accountant can do to avoid being blamed for not catching something soon enough. However, there are risk management practices that all A&A practitioners can implement now to help improve their defensive position should they find themselves embroiled in litigation.

Learning Objectives:

• Identify how professional liability claims arise related to the delivery of audit and attest services
• Identify practices to incorporate during the delivery of audit and attest services to help mitigate the risk of a malpractice claim
• Recognize large loss drivers in professional liability claims involving A&A services