An indispensable reference tool for CPAs for avoiding common professional risks and hazards and achieving a successful and sustaining practice Bringing together the perspectives of CPAs, lawyers who defend and prosecute them and the underwriters and insurers who cover them, Professional Liability Risk Management shows CPAs how to avoid professional errors and omissions that can lead to malpractice. It identifies the most prominent malpractice risks confronting professionals through scenarios and provides practical techniques to minimize exposure to these risks. Reveals how to avoid professional errors that may lead to malpractice Looks at common malpractice risks Presents practical methods to reduce exposure to risks Both a cautionary lesson plan and a reference tool offering clear guidance through and around problematic situations likely to arise in any practice, Professional Liability Risk Management is organized largely according to the chronology of an engagement to better understand risk assessment and management as a method and a way of approaching the practice.