Two Service Offerings That Protect You Against Liability

Source: Accounting Today

Juries tend to ignore accountants’ disclaimers about fraud. Here is what you can do:

• Offer an internal control review to clients—or alternatively, send a letter warning clients of the dangers of weak internal control.
• Offer clients a bank reconciliation service periodically on a surprise basis. The anticipation of these visits may serve as a deterrent to theft.

These services serve as more than just protection for the accountant, they are valuable to clients and should not be priced as loss leaders.

For the complete article, click here and select the article “Commentary: Protect Your Clients—And Your Firm” in the November 17, 2008, issue.

From Accounting Today, November 17, 2008, SourceMedia Inc., One State Street Plaza, 27th Floor, New York, NY 10004, 800-221-1809.