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CPA Malpractice - Am I at Risk?
William Eskin
Copyright© 2009

Course: 1101073   Version 1004

NASBA Category:     Auditing     CPE Credits 5
Level: Overview    Run Time: 3.0 Hours
Prerequisite: There are no prerequisites.
Advance Preparation: None.


Course Description
Your audit and review are complete, the financial statements have been forwarded to the bank, and the client received his loan. But if the client cannot repay the bank and the loss can be traced back to material GAAP errors in the financial statement, this could indicate CPA malpractice. This course will show how banks and other users rely on financial statements, what the bank has to do in order to prove malpractice, the key areas of an accountant’s exposure, and how an accountant can defend him or herself in this situation or prevent it in the first place. You will also work through several real-life examples of malpractice that involve both audits and reviews.

Learning Objectives
Upon successful completion of this course, participants will be able to:
  • Section 1
    • Recognize the users of financial statements and the parties responsible for their fair presentation.
    • Identify common errors on financial statements that lead to malpractice lawsuits.
    • Explain how checklists, independence, workpapers, and documentation affect malpractice exposure.
  • Section 2
    • Delineate the risks associated with accounting services, including workpaper documentation, independence, and fraud.
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