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Accountants Liability: Balancing Risk and Reward (Tax Focus)

Accountants Liability: Balancing Risk and Reward (Tax Focus)

Offering tax services can expose you to professional liability. Here's the information you need to identify, assess, and mitigate risks arising from everyday decision-making.

$159 - $199
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Jun 02, 2022

NASBA Field of Study

Regulatory Ethics



CPE Credits



Jan Lewis, CPA, Deborah K. Rood, Nick Magone, Henry J. Grzes


Product Number


 Business & partner 
Product Details

Fortify your practice

Which clients should you serve? What services will you provide? How will you best deliver those services?

A thorough evaluation of your professional approach, and keeping an eye out for legal risks, will greatly benefit you and your clients.

Join this panel of experts to learn:

  • Professional liability exposures
  • Conditions where professional liability exposures can surface
  • How to identify liability threats
  • How to ensure financial decisions reasonably outweigh professional liability risks

In addition to earning CPE credits, CNA policyholders may earn up to a 10% premium credit for three consecutive years on their AICPA Professional Liability Insurance policy. Please consult your agent for further details regarding eligibility.

Please Note: Professional liability premium discounts will only be applied for viewing this webcast once. Multiple viewings will not result in the application of multiple discounts.

Key Topics

  • Claim data of the AICPA Professional Liability Insurance Program
  • Practice management
  • Firm culture and going to market
  • Client and engagement letters and acceptance
  • Relationship continuance and termination
  • Billing
  • Data security
  • Risk management issues relating to tax and consulting services

Learning outcomes

  • Recognize how to assess the professional liability risks of new and existing clients and services in relation to the firm's risk tolerance.
  • Identify claim data by area of practice and understand implications for the firm.
  • Identify how risk changes as a result of new information, client action (or inaction), and unforeseen events that can surface during a tax or consulting engagement.
  • Recognize strategies to balance risk and maintain alignment with the firm's risk tolerance.

Who Will Benefit

  • CPAs and CGMA designation holders
  • Tax practitioners
  • Legal professionals
  • Accounting and finance professionals
Credit Info
CPE Credits
NASBA Field of Study
Regulatory Ethics
This is a digital product. With full paid access the content will be available to you for 3 months after purchase date.
For more information, please refer to CPE requirements and NASBA sponsorship information
Do you have an AICPA membership? Log in to apply your member discount.
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6+ registrants

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Contact us
Jan Lewis, CPA
Jan Lewis is a Tax Partner with Haddox Reid Eubank Betts PLLC in Jackson, MS. Her responsibilities include income and estate tax planning, research, and compliance for individual and business clients. Her areas of practice include healthcare, oil & gas, construction, real estate, and high net worth individuals. She has taught continuing education classes throughout Mississippi and nationwide to CPAs in the areas of income tax planning, business tax matters, and S Corporation tax matters, and has given presentations on financial literacy, tax reform, and other tax issues to various groups across the state. She has authored articles on tax matters for the Tax Adviser publication of the AICPA’s Tax Division. Jan has also served as a webcast leader for the AICPA since 2016 on topics such as Accountants Liability in Tax Practice and S corporation issues. Jan is active in the Mississippi Society of CPAs and has served as President of the Society and as a member of the MSCPA Board of Governors. She was previously an officer of the Society’s Central Chapter, and a trustee of the Mississippi Tax Institute. Jan currently is a member of the MSCPA’s Long Range Planning Committee and the MSCPA’s Young CPAs Liaison Committee. Jan is also an active member of the American Institute of CPAs. She has served as the MSCPA’s elected representative to the AICPA Council, and on the AICPA Life Insurance and Disability Plans Committee. She was a member and chair of the AICPA’s Tax Practice and Procedures Committee, and currently serves as Chair of the AICPA’s Tax Executive Committee, the senior committee overseeing the work of all Tax Division committees and technical resource panels. Jan is also an appointed member of the AICPA’s G400 Practice Advisory Group. Jan is a native of Jackson, MS, and a 1985 Summa Cum Laude graduate of Mississippi State University. She is a member and past chairperson of the Adkerson School of Accountancy Advisory Board at MSU and was selected as the MSU College of Business’s Alumni Fellow for 2016. She was chosen as MSU Beta Alpha Psi Alumnus of the Year in 2000.
Deborah K. Rood
Deb is a Risk Control Consulting Director for the Accountants Professional Liability Insurance Program of Continental Casualty Company, a CNA company and the underwriter of the AICPA Professional Liability Insurance Program. She previously practiced public accounting for 16 years with a regional public accounting firm. As a state and local tax (SALT) practice leader with a regional public accounting firm, Deb provided consulting and compliance services to clients in a variety of industries including but not limited to manufacturing, distribution, professional services and transportation. She has conducted presentations at various AICPA and state CPA society conferences and has authored numerous articles. Deb provides risk control consulting services for CPA firms in the AICPA program. She participates in the development and delivery of risk management training and education products including the live risk management seminar and self-study programs.
Nick Magone
Managing Partner at Magone & Company, P.C. NJ CPA Nick Magone lends a global view based on his 25 years of audit and business advisory experience to clients’ business and personal needs. His clients include a variety of U.S.-based foreign companies in industries from professional services to technology and distribution, as well as closely held U.S. businesses — the heart of his practice. Magone serves as a speaker for the American Institute of Certified Public Accountants (AICPA) Business Solutions Workshop, ""Delivering on Your Trusted Advisor Status,"" having delivered the workshop to the Rhode Island Society of CPAs, Minnesota Society of CPAs and the New Jersey Society of CPAs, where his expertise in practice and client management issues provides practioners with concrete examples of how he has handled various practice management challenges. He has also appeared on the AICPA’s national webcast, ""Accountant’s Liability: No Good Deed Goes Unpunished."" His presentation covered topics ranging from client privacy and data security to conflicts of interest, engagement management, investment advice claims, and fiduciary and valuation services. Magone has also authored a Case Study on Key Considerations in Paperless Processes published in the AICPA’s September/October 2007 issue of InfoTech Update. A past chair for the New Jersey Society of Certified Public Accountants (NJSCPA) Government Accounting and Auditing Committee’s non-profit sub-committee, Nick is a licensed Certified Public Accountant in New Jersey and New York, a Chartered Global Management Accountant, a New Jersey Public School Accountant and a Certified Financial Planner. He is a graduate of Seton Hall University, where he currently serves on the University’s Presidential and Accounting Advisory Committees. Nick also speaks Italian. Specialties: Closely-held businesses, US subsidiaries of foreign corporations, hedge funds, entrepreneurial businesses, real estate and non-profit organizations.
Henry J. Grzes
CPA, Lead Manager – Association of International Certified Professional Accountants

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Accountants Liability: Balancing Risk and Reward (Tax Focus)
Jun 02, 2022
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