Risk management, in the words of Sarah Ference, CPA, doesn’t have to be overly complicated or time consuming. “It’s really a mindset,” said Ference, an author of the JofA’s Professional Liability Spotlight column and the guest on this week’s episode of the JofA podcast.

Ference shares several risk management maxims that have resonated with her – ones that are the focus of the January column, Risk Management Mantras to Add to Your Daily Practice.

In addition, Ference details the topics in some previous Professional Liabillity Spotlights:

n  October: 10 Tips to Help Avoid Wire Fraud Scams.

n  November: Missed Due Dates: Diligence and The Lurking Danger.

n  December: How to Not Lose Sleep Over NOCLAR.

What you’ll learn from this episode:

·         Some of the risk management mantras that stand out to Ference.

·         The difference between being friendly and objective with clients.

·         The answer CPAs should give to the question “Who’s your most important client?”

·         Why Ference says that being a natural helper can get in the way of a firm’s best interests.

·         Explanation of the mantras “trust your gut” and “take the high road.”

·         Highlights of other recent JofA Professional Liability Spotlight columns.