Avoiding Peer Review Deficiencies and Professional Liability in Public Accounting

Peer review deficiencies and professional liability claims result from both audit and nonaudit services. This course provides best practices for avoiding legal liability and quality control concerns for a wide variety of professional services offered by public accountants. Major Topics: 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. Who Should Attend: Anyone who performs audit or other attest services.