Geneva, Ill. (May 19, 2003) -- Taking on bad clients and a lack of documentation are two of the top risks facing CPAs, according to an expert in professional liability programs for accountants.
Poor client selection can often lead to a malpractice claim, even when the CPA hasn’t done anything wrong. “We see lot of claims generated by clients who are just plain wrong,” said Michelle Duffett, co-owner of Insight Insurance Services in Geneva, Ill. “As many as half of the claims we see every year are cases where the accountant hasn’t done anything wrong but is being sued by the client anyway.”
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