AC502-4: Examine critical aspects of the
accountant’s legal liability pursuant to the applicable laws and
management of risk including forms of business and bankruptcy.
PC-6.1: Incorporate data, inferences, and reasoning to solve problems.
As a new owner of an accounting firm, you are looking into risk
management policies. What exposure does the accounting firm have
regarding professional liability? Is there a type of business
organization that you can use to limit professional liability and the
liability of the organization or you as the owner? What safeguards can
you implement to help reduce liability and/or protect yourself from
additional liability? Write a paper laying out your approach and any
additional steps will you take?
Please see the file attached and follow the instruction