Journal of Accountancy Podcast

Professional liability risks related to Form 1065, CPA firm acquisitions


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Sarah Ference, CPA, an author of the JofA's Professional Liability Spotlight column, returns to the JofA podcast to discuss recent column topics and the advice CPAs can gain from them. In particular, Ference details some of the risks for CPA firms engaging in mergers and acquisitions, the subject of a recent two-part series.

The articles discussed in this episode are:

n June: "Form 1065: Pay Attention or Pay Up."

n July: "Professional Liability Risk Stemming From CPA Firm Acquisitions: Part 1."

n August: "Professional Liability Risk Stemming From CPA Firm Acquisitions: Part 2."

n September: "Start Risk Management With Employee Onboarding."

What you'll learn from this episode:

  • Why CPA firms should pay close attention to recent changes in tax compliance for partnerships.
  • A summary of the two-part article on professional liability risk related to CPA firm acquisitions.
  • The importance of cultural alignment in firm acquisitions.
  • What "tail coverage" is and why it's essential for post-transaction protection.
  • How a strong onboarding process can serve to mitigate some risks for firms — and why that topic is timely this month.
...more
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Journal of Accountancy PodcastBy AICPA & CIMA

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