Damage Control for Professional Liability
Goldwasser, Dan L., The CPA Journal
The increasing number and severity of liability claims against CPAs intensifies the need to consider the format of accounting firms and personal assets in the event that claims exceed available liability coverage. The author presents an update of material published in December 1986 which is even more pertinent now. This article includes information about recent changes in the states' professional corporation laws and, most importantly, advice for protection of individual assets. The current liability climate requires all practitioners to reconsider their defenses against ruinous professional liability claims.
The threat of professional liability has become more ominous to CPAs …
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Publication information:
Article title: Damage Control for Professional Liability.
Contributors: Goldwasser, Dan L. - Author.
Magazine title: The CPA Journal.
Volume: 61.
Issue: 7
Publication date: July 1991.
Page number: 16+.
© New York State Society of Certified Public Accountants Feb 2009.
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