COR2146. CPA Malpractice - What is my risk in 2021?

Sureties and banks have historically looked to the CPA profession as a reason for at least some of their losses when they relied upon audited or reviewed financial statements when providing credit to their customers and principals. This issue has significantly increased in 2021 due to COVID as many contractors and developers have felt the impact of the pandemic



And for you folks in industry, you must remember that you have an exposure equal to the CPA in public practice since you are responsible for the fair presentation of the financial statements



In this presentation, we will discuss why CPAs get sied and ways to prevent this terrible situation including a number of "real-life" stories.

Learning Objectives:

• Distinguish through real-life examples what happens with CPA Malpractice
• Identify the specific exposures CPAs have (both in public and in industry) with a special emphasis on risks in 2021
• Identify the best ways to prevent being sued and losing a CPA malpractice lawsuit