Description
Learn how to define conflicts of interest and how to manage the risk they pose to you and your clients.Whether your clients are individuals, businesses, nonprofits, or your own employer, conflicts of interest are nearly unavoidable in the accounting profession. But did you know that these conflicts expose you to the continual risk of ethical violations, professional errors and omissions? This presentation will teach you to identify, evaluate, and effectively disclose conflicts of interest with confidence. You will learn how the profession defines these conflicts and how to manage and neutralize the risk they pose to you and your clients.
Date: 2022-11-17 Start Time: End Time:
Learning Objectives
What Are Conflicts of Interest, and Why Do They Matter?
• The Definition of a Conflict of Interest (Exists in Most Professions)
• AICPA, PCAOB, IRS, States, and State Societies Regulate Conflicts for Accountants
• The Rules, Though, Only Tell You What a Conflict Is, but Not What to Do About It
• The Related Principles of Integrity and Objectivity Provide Critical Guidance
How to Identify Conflicts of Interest
• When You Consider Whether to Take on a Client
• When Your Client Relationships Evolve and Change
• When a Client Asks You to Take on Work of a Different Nature Than Youve Handled for Them in the Past, e.g., Consulting, Forensics, Buy-Sell
• When You Find More Than a Single Interest Involved
• When You Work With Competitors
• When You Have a Financial Stake
Evaluating Conflicts of Interest Using Specific Examples
• First Things First: Who Is Your Client?
• Corporate Finance
• Marital Dissolution
• Shareholder Disputes/Freezeouts/Buyouts
• Individual Tax Planning
• Serving on a Board
• Many More Examples
Disclosing and Resolving Conflicts of Interest
• Does It Feel Right? Integrity and Objectivity Gut Check Revisited
• Operational Considerations: Act Promptly; Consult Legal Counsel; Consider Whether to Notify Your Professional Liability Insurance Carrier of the Situation
• Conflict Waiver Letter Terms and Conditions
• Disengagement Options, Dos and Donts
AIPB ,CLE (Please check the Detailed Credit Information page for states that have already been approved) ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.
Jonathan S. Ziss, J.D.-Goldberg Segalla
