Accountants and Malpractice: Can We Get Sued for This?
Author: Allison McLeod
| CPE Credit: |
2 hours for CPAs |
This course will review situations in which a CPA or accounting professional may have be in danger of being sued. We will cover common law causes of action, such as negligence, and the relevant standards and case law defining what constitutes reasonable practitioner behavior.
Publication Date: November 2021
Designed For
CPAs, EAs, tax preparers, lawyers, accountants and insurance personnel.
Topics Covered
- Situations in which a CPA or accounting professional may have be in danger of being sued
- Common Law Duties
- Negligence-based Torts
- Intentional Torts
- Contract Claims
- Statute of Limitations
- Damages
- Summary of General CPA Practice Standards
- Additional Tax Practice Standards under Treasury Circular 230
- AICPA Statement on Standards for Tax Services ("SSTS")
Learning Objectives
- Describe the elements of negligence, the common law cause of action
- Recognize and explain what constitutes reasonable practitioner behavior with reference to practice standards and common law
- Identify how to avoid common pitfalls that could lead to the practitioner being sued
- Recognize basic requirements of negligence
- Identify the number of elements that must be met before causation criteria is met with respect to proximate cause
- Recognize examples of a discreditable act
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Regulatory Ethics (2 hours)
Program Prerequisites
None
Advance Preparation
None
