Detail A Nice Niche - If You Minimize Liability Risk   Oleh:  Anderson, Sherry ; Wolfe, Joseph Jenis: Article from Bulletin/Magazine Dalam koleksi: Journal of Accountancy vol. 191 no. 2 (2001), page 49-56. Topik: liability risk; nice niche; minimize liability risk Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ85.12 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel When opportunity knocks, a CPA may want to check what’s out there before answering the door. The good news is that increased activity in estate planning, succession planning and mergers or acquisitions involving small to midsize businesses has fueled client demand for business valuation (BV) services in recent years. A small number of CPA firms specialize in performing BV engagements, and for the many firms considering the risks and rewards of tackling this niche as a new practice area others’ missteps can provide valuable life lessons. Data on malpractice claims made against CPA firms arising from disputed valuations offer a roadmap for avoiding trouble spots. Culled from 1995 – 1999 claims for more than 22,000 firms insured with Continental Casualty Co. (CNA - underwriters of the AICPA’s professional liability insurance program), the data highlight a scenario that’s easy to avoid. Most of those claims arose from a tax planning, management advisory or other consulting engagement that had morphed into business valuation in mid - transaction at the client’s request. In such cases, business owners ready to sell their companies - and comfortable with their CPA s - had pressed the firms for BV assistance, regardless of whether the CPA was experienced in valuation. Firms with insufficient training to perform the BV let themselves be coaxed into it by the client’s assurances the CPA’s knowledge of the business was the ideal qualification for the job. In instances involving the valuation of a closely held business, CPA s said they were caught unexpectedly, with no sense of a problem during the engagement. In other claims, the CPA accepted his or her first BV engagement because the client insisted the valuation was only a formality for a simple transaction already agreed on by buyer and seller. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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