Limiting Exposure to ERISA Litigation

Source: Accounting Web.com

If CPAs don’t educate their business clients, or don’t include in opinion letters what clients have done to discharge their responsibilities under ERISA, they may:

• Raise their clients’ exposure to litigation.
• Find themselves as defendants in ERISA lawsuits.

In this context, CPAs should consider providing financial literacy education. This will serve not only to minimize ERISA litigation against their clients, it may also serve as a marketing event to bring new estate planning business to the firm.

From Accounting Web.com. The complete article can be found at http://www.accountingweb.com/cgi-bin/item.cgi?id =101555&d=815&h=817&f=816&dateformat=%B%20%e,%20%Y. (See DOL Waive Red Flag for CPA Firms. This article is viewable by Accounting Web.com subscribers only. Subscription information is available at the site.)