Liability in the Practice of Public Accounting
0 User(s) Rated!

Words: 2149
Views: 574
Comments: 0
Question of liability has become more prevalent in the practice of public accounting. Recently, the AICPA has been lobbying for liability reform in cases involving negligence or malpractice by public acco untants. Opposition to this lobbying has come from consumer advocacy organizations, trial lawyers" associations, and state public interest groups to name a few. Bolinger p. 53 The key to success for the AICPA, according to Gary M. Bolinger is creating an image as a, "profession performing high-quality services but faced with excessive liability burdens that harm the public interest." Bolinger p.56 One should not be concerned, however, in the...
creates significant implications regarding a jury"s ability to reach a fair verdi ct in cases as technical and subjective as accounting malpractice cases.

creates significant implications regarding a jury"s ability to reach a fair verdi ct in cases as technical and subjective as accounting malpractice cases.
The above argument shows major points used by both sides in the ongoing fight involving liability reform in public accounting. Additionally it suggests that the profession itself need bear the burden of deterrence, enforcement, and investigation whereb y eliminating the existing systems only strength. If the AICPA in cooperation with state boards becomes more willing to accept the role as investigator and punisher, then the economics of the argument suggest that liability reform is in order.
If you recently picked up a newspaper or turned on to see the news you may have question what is happening in our schools and begin to think whether our schools are still safe places for children. Recent school shootings have set feared in many parents about their children's safety...
Words: 3264
View(s): 2895
Comment(s): 0
"The transmission of such a price-list does not amount to an offer to supply an unlimited quantity of the wine described at the price named, so that as soon as an order is given there is a binding contract to supply that quantity. If it were so, the merchant might...
Words: 2066
View(s): 6475
Comment(s): 0
''a diabetic at work without a recent insulin injection approaching the lunch break may become tense, erratic, short tempered, but that behaviour does not constitute a criminal act'' Kelly, Holborn and Makin, 1983 sited in; M. Haralambos and M. Holborn 2000 It is regarded amongst sociologists that physiological characteristics do...
Words: 2044
View(s): 2436
Comment(s): 0
In Roe et al. v. Wade District Attorney of Dallas County 1973, one of the most controversial cases in recent history, the U.S. Supreme Court struck down all state laws that limit a woman"s right to an abortion during the first three months of pregnancy. Justices Rehnquist and White dissented....
Words: 3001
View(s): 1293
Comment(s): 0