PRA2402. Know and Manage the Risks of Providing CAS & CFO Services

Client accounting services/CFO advisory services (CAS) is a diverse and growing area of practice for all sizes of CPA firms. Each CAS engagement may include a variety of services with differing degrees of complexity and strategic value to the client. Growing your CAS practice increases professional liability and risk. Firms need to recognize, understand the risks in order to establish protocols to mitigate them. This course will discuss day-to-day risk management protocols related to providing CAS services as well as provide tools that CPA firms can leverage to help manage their risk.

Learning Objectives:

• Identify how malpractice claims arise related to the delivery of CAS/CFO advisory services by CPA firms.
• Apply risk management tools and techniques related to firm practice management to help reduce the potential for a client dispute.
• Identify practices to incorporate during the delivery of CAS/CFO advisory services to help mitigate the risk of a malpractice claim.
• Determine practical risk management tools and techniques to implement based on your firm’s unique characteristics.