Click How To Minimize The Damage Of Lawsuits
by Rickard Jorgensen, FCII, ACIArb., ARM Things Beyond Your Control That Precipitate Lawsuits With the advent of the computer era and information age, the cultural and business climate of the nation, and world, has shifted. Businesses have become more complicated, as attitudes sanction greater and greater risk-taking. No longer are there sure-fire lifetime jobs […]
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Rickard Jorgensen - Posted in Accountants' professional liability insurance, Accountants' risk management, being sued, Claims, Client relations, Client screening, due diligence, engagement letters, engagement letters, file documentation, File retention, lawsuit, risk management, Uncategorized
Aug, 08, 2017
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An overview of the client screening process
By Rickard Jorgensen, FCII, ACIArb, ARM Extracted from Evaluating Clients – Engagement risk screening for CPA firms. There are solid reasons for screening new clients. Many involve not getting paid, exposure to lawsuits or even the stress related to difficult individuals. Effective client screening can avoid these problems. Implementing a formal screening process is the […]
- Posted by Rickard Jorgensen
- Posted in Accountants' risk management, Client relations, Client screening, due diligence, engagement letters, engagement letters, lawsuit, professional liability claims, risk management, Uncategorized
- Aug, 08, 2017
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ADR Provision in Engagement Letters – a new approach
You may recall the blog posting about the Mediation Clause recommended by Ralph Picardi (go here for a link to the post). Recently certain firms have enjoyed success by augmenting this provision with a section step which essentially provides rules for the resolution of a claim or fee dispute by Arbitration. While Arbitration as a process has limitations, […]
- Posted by Rickard Jorgensen
- Posted in Accountants' risk management, Client relations, engagement letters, Mediation, professional liability claims, Ralph G. Picardi, Uncategorized
- Apr, 10, 2017
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Fee Collection – a malpractice risk
Counter suits arising from fee disputes are one of the most common sources of malpractice claims against CPAs. In fact, such suits are a great risk for many professionals. Any steps taken to avoid a collection becoming a malpractice claim are essential. One of the key areas of attention should be a documented Collection Procedure. […]
- Posted by Rickard Jorgensen
- Posted in Accountants' professional liability insurance, Accountants' risk management, professional liability claims, Uncategorized
- Mar, 09, 2017
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How to get sued……
There have been many articles about how to avoid law suits and what you should not do to attract problems with clients. So with a tongue firmly implanted in the cheek, we thought it would be fun to tell you what you should do to get sued. Accept an assignment that is beyond your expertise […]
- Posted by Rickard Jorgensen
- Posted in Accountants' professional liability insurance, Accountants' risk management, Claims, Client relations, professional liability claims, Uncategorized
- Feb, 07, 2017
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Engagement letters – what should they contain
Every trial attorney will tell you that the first and most important tool in the defense of a malpractice claim against a CPA is a strong and carefully crafted engagement letter. This was brought home last week with one of our long-standing CPAGold™ clients. For years the CPA had provided corporate tax filing services to […]
- Posted by Rickard Jorgensen
- Posted in Accountants' professional liability insurance, Accountants' risk management, Client relations, Coverage, engagement letters, engagement letters, professional liability claims
- Nov, 16, 2016
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Examples of Limitation of Liability Clauses
By Seth L. Laver, (with additional remarks by Rickard Jorgensen). Following the recent article (here) about limitation of liability clauses, I asked Seth L. Laver if he could suggest a limitation of liability wording for engagement letters. This was the response: Before we get to the proposed language, a disclaimer: the enforcement of these clauses vary […]
- Posted by Rickard Jorgensen
- Posted in Accountants' professional liability insurance, Accountants' risk management, Seth l. Laver
- Feb, 17, 2016
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Example Of Mediation Provision For Engagement Letters
The wording of an Alternative Disputes Resolution clause in an engagement letter has been discussed on various occasions in the past. Schools of thought have vacillated between a formal arbitration clause to a voluntary mediation clause. Ralph Picardi, Esq., the risk management consultant to the CPAGold program recommends the following language for a Mediation Clause: […]
Read More- Posted by Rickard Jorgensen
- Posted in Accountants' risk management, Client relations, Mediation, Ralph G. Picardi
- Feb, 08, 2016
- No Comments.
Limitation of Liability Clause Not Enough to Protect Accountant
Another great article from our friends at Goldberg Segalla LLP. By Seth L. Laver, Jennifer M. Mannion and Peter J. Biging At CPAGold we have mentioned on numerous occasions about the importance of an engagement letter. The engagement letter is a critical tool for setting expectations and managing risks. As we have said before a well […]
Read More- Posted by Rickard Jorgensen
- Posted in Accountants' professional liability insurance, Accountants' risk management, Client relations
- Jan, 09, 2016
- No Comments.
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