Write-up, Payroll and Other Accounting Services: Managing the Risks (111206-12)
Description
Most sole practitioners and local CPA firms routinely provide write-up,
payroll and other accounting services to their clients. Since these
engagements involve no technical standards or issued opinions, most CPAs
view them as risk-free. They are not. These services can generate a
surprising number of significant malpractice claims: one case resulted
in a judgment of one million dollars! This course identifies the risks
(and proven risk-mitigating practices) throughout the entire life-cycle
of an accounting services engagement, from client acceptance to
engagement performance to withdrawal.
Learning Objectives
Identify
the risks inherent in write-up, payroll and other accounting services
Identify the risk management practices available to mitigate the
identified risks
Major Topics
Having critical conversations: engagement scope, firm
responsibilities, client responsibilities
Supervision of client
employees
Preventing engagement creep
Maintaining quality control
over accounting services
Withdrawing from an engagement
Numerous
illustrative examples, interpretative flowcharts, observations and
engagement management suggestions
Course Level
Intermediate
CPE Field of Study
Auditing
4
Prerequisites
Experience in write-up, payroll, and other accounting services