OasisLMS

Peer review deficiencies and professional liability claims result from both audit and nonaudit services. This course will provide best practices for avoiding legal liability and quality control concerns for a wide variety of professional services offered by public accountants.

• Recall the nature of risks faced when performing a variety of professional services for clients
• Explain how to mitigate risks faced by all CPAs in performing professional services
• List best practices for maintaining quality control for all professional engagements

• Differentiating risks faced when performing various levels of professional services, such as audits, reviews, compilations, preparing financial statements, bookkeeping, tax return preparation, and similar
• Best practices for preventing quality control concerns that could lead to peer review deficiencies or malpractice claims
• Establishing an understanding with the client to minimize misunderstandings as to the nature and scope of engagements
• Explain situations when independence should be appropriately safeguarded when performing nonattest services