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Accountants Liability: Balancing Risk and Reward (A&A Focus)
Accounting & Reporting

Accountants Liability: Balancing Risk and Reward (A&A Focus)

The AICPA and CNA, the endorsed underwriter for the AICPA Professional Liability Insurance Program host this panel discussion about professional liability exposures arising from the delivery of audit and attest services.

$159 - $199
Do you have an AICPA membership? Log in to apply your member discount.



NASBA Field of Study

Regulatory Ethics



CPE Credits



Sarah B. Ference, Howard H. Fine, Nick Magone, Jennifer H. Elder


Learning Outcomes
  • Understand how to assess the professional liability risks of new and existing clients and services in relation to the firm's risk appetite
  • Be aware of claim data by area of practice and understand implications for the firm
  • Assess how risk changes as a result of new information, client action (or inaction,) or other events that arise during an attest or consulting engagement
  • Learn strategies to respond to those changes in risk to help maintain alignment with the firm's risk appetite
Key Topics
  • Claim data of the AICPA Professional Liability Insurance Program
  • Practice management:
  • Firm culture and going to market
  • Client and engagement acceptance
  • Engagement letters
  • Client and engagement continuance and termination
  • Billing
  • Data security
  • Audit and attest services
  • Risk management issues that arise during planning and fieldwork
  • Addressing “hiccups”
  • Documentation
  • Consulting services
Product Details

Professional Liability: Questions and Answers

"Which clients should I engage with?" "What services will I provide?" "How will I deliver those services?" Every decision a CPA makes, and every action a CPA takes, has risk implications. The benefits of each decision made must be balanced with its professional liability risk. In this webcast, you will learn how to identify and evaluate the risk implications of your decisions and learn strategies to respond based on your firm's level of risk tolerance.

During this webcast, the AICPA and CNA, the endorsed underwriter for the AICPA Professional Liability Insurance Program, host a panel discussion about professional liability exposures arising from the delivery of audit and attest services. This interactive webcast will provide you with information on how to assess and respond to the professional liability risks that arises from the decisions you make in your practice every day.

In addition to earning CPE credit, 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.

Who Will Benefit
  • Accounting and auditing professionals
Do you have an AICPA membership? Log in to apply your member discount.
AICPA Members

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Contact us
Credit Info
CPE Credits
NASBA Field of Study
Regulatory Ethics
This is a live event. You will have access on the date/time of broadcast and the archive for 3 months after the broadcast date.
Sarah B. Ference
Sarah is a Risk Control 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 15 years with a national public accounting firm.
Howard H. Fine
Partner, Gettry Marcus CPA, P.C. Howard H. Fine, CPA/ABV/CFF, CVA, a Partner at Gettry Marcus CPA, P.C., has over 30 years of experience providing accounting, auditing, and tax services to middle market closely-held businesses. He is the Partner-in-charge of Gettry Marcus’ Accounting & Auditing Group. Mr. Fine has extensive experience in diversified industries such as professional service firms, wholesale distribution, employee benefit plans, manufacturing, health care, retail, hospitality, apparel and textile, and not-for-profit organizations. He works with clients at various stages of the business cycle to supply them with the appropriate financial information they require, including proactive reporting packages, key ratios and benchmarking, as well as budgeted information and forecasts. He also specializes in conducting internal control reviews. Mr. Fine is also the Partner-in-Charge of Gettry Marcus’ Employee Benefit Plan Audit Group, and is the firm’s designated Partner for the Employee Benefit Plan Audit Quality Center of the American Institute of Certified Public Accountants (AICPA). Additionally, he is a key member of Gettry Marcus’ Business Valuation and Litigation Support Group, providing services to law firms and other organizations, and serves as the firm’s Partner liaison to TGS Global, a worldwide network of independent accounting firms. A graduate of SUNY at Binghamton, Mr. Fine is a member of the AICPA, the New York State Society of Certified Public Accountants (NYSSCPA) and the National Association of Certified Valuators and Analysts. Mr. Fine is actively involved in the NYSSCPA; in 2007, he was elected to and served through May 2014, on the Executive Board of the Nassau County Chapter and he also co-chairs the Sponsorship Committee which is instrumental in raising funds to support Continuing Professional Education (CPE) programs and college scholarships. He is past Chairman of the Litigation Support Services Committee Nassau Chapter and the Cooperation with Bankers and other Credit Grantors Committee Suffolk Chapter of the NYSSCPA. Additionally, he is an associate member of the Association of Certified Fraud Examiners. Mr. Fine is chairman of Gettry Marcus’ Quality Control Committee, where he oversees internal reviews and provides CPE on various accounting and auditing issues, including current updates to Gettry Marcus partners and staff. In addition, he has lectured to various groups such as accountants, attorneys, business owners and professional networking groups on “Hands-On Guide To Auditing”, “Audits of 401(k) Plans”, “Understanding and Uses of Financial Statements”, “Steps in Starting a Business”, “Understanding the AICPA Statement on Standards for Valuation Services”, “Business Valuations & Litigation Support”, “Forensic Accounting & Business Valuation for Matrimonial Dissolutions”, and “Protecting Your Business from Fraud”. He has written “Guarding Against Theft: Comprehensive Internal Controls”, School Business Affairs; “Internal Controls for a Law Firm,” NYSSCPA Nassau Chapter Newsletter; “Tighten Up the Money Controls Throughout the Office,” Law Office Administrator and co-authored the chapter “Accounting and Tax Policies as They Relate to Intellectual Property” in the book Intellectual Property Operations and Implementation in the 21st Century Corporation. Mr. Fine received the Long Island Business News’ 2013 “Around 50 Award” which recognizes and honors individuals for their leadership in business, support of professional and not-for-profit organizations and a commitment to the needs of the local community. He was also featured in the Who’s Who in Accounting & Auditing of Long Island Business News. Mr. Fine donates his time to his profession and community through his participation in various organizations. He regularly lectures on financial literacy issues and is on the Committee of the Capital One Investing for Good Long Island Community Initiative: Financial Literacy Challenge. In addition, Mr. Fine is a volunteer at Sunrise Day Camp, the only dedicated full summer day camp in the nation for children with cancer and their siblings.
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.
Jennifer H. Elder
Jennifer Elder, CPA, CMA, CIA, CFF, CGMA is a keynote speaker, trainer, and business coach dedicated to business transformation. For more than 20 years, she has been helping businesses by peeling back the layers of "administrivia" and finding the hidden strengths and core values that make you and your company awesome. Ms. Elder works with businesses to develop a compelling business strategy that is quick to implement that transforms your company from what you are now to what you have always wanted to be. Known for being energetic and enthusiastic, Ms. Elder has been delivering high-quality, customized training that make complicated topics easy to understand, relevant, and useful for years. She has conducted seminars for the Fortune 500, US Government, State CPA Societies, and CPA Firms in 33 states. Her sessions are highly interactive, full of discussion, and even entertaining. Ms. Elder received her BA from the University of Massachusetts and an MS in Organizational Management from Antioch University New England. She lives on her boat near Annapolis, Maryland.

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Accountants Liability: Balancing Risk and Reward (A&A Focus)
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Oct 15, 2020
5pm9pm GMT
Nov 19, 2020
6pm10pm GMT
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