Malpractice Issues for CPAs ON DEMAND
Available Until
Your Desk
3.0 Credits
Member Price $87.00
Non-Member Price $100.00
Overview
This course explores the malpractice exposure faced by CPAs in their professional practice. It examines key legal concepts such as negligence, breach of contract, and fiduciary duty, as well as landmark case law that shapes liability to clients and third parties. The course also reviews high-risk scenarios, documentation practices, engagement letters, and strategies for mitigating malpractice claims. Through practical insights and legal frameworks, CPAs will learn how to uphold professional standards while protecting themselves from litigation and regulatory sanctions.
Highlights
Malpractice issues for CPA’s. Sources of CPA’s duty of care. Common law causes of action against CPA’s. Key case law defining reasonable CPA behavior. Negligence claims. Contract liability and legal defenses. Damages in contract and tort claims. CPA malpractice litigation consequences. CPA responsibilities in error disclosures to clients. Risk mitigation and professional protection strategies.
Prerequisites
None.
Designed For
Auditors, CPAs, CEOs, and other accounting professionals.
Objectives
Recognize the common law causes of action against CPAs. Recall the key malpractice cases and their judicial outcomes. Recognize the actions most likely to result in punitive damages. Specify the legal element to prove when establishing causation in a negligence case. Recall the recognized defenses against malpractice claims. Recognize the reasons to maintain audit documentation. Recall what distinguishes fraud from negligence in malpractice claims. Recognize the impact on an audit engagement of a failure to assess internal controls. Specify the legal effects of client misrepresentation in an engagement. Recall the nature of due care, as defined by the AICPA Code of Professional Conduct. Recognize the main purpose of expert testimony in a malpractice course.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Steven Bragg, Western CPE
Steven M. Bragg, CPA, is a full-time book and course author who has written more than 70 business books. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast.
Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and an auditor with Deloitte & Touche. He holds an MBA from Babson College, a Master of Finance from Bentley College, and a BA from the University of Maine (summa cum laude).
Non-Member Price $100.00
Member Price $87.00