Accounting careers a liability?

Discussion in 'Accounting' started by Janice Davis, Dec 2, 2003.

  1. Janice Davis

    Janice Davis Guest

    My husband has concerns about me going into forensic accounting because he is worried litigation might come against me. I am, however, not going to let his concerns deter me. You see, he heard about a CPA in CA that was being sued by a former client because he chose to do prepare the F/S different from another CPA. I didn't have the heart to tell him that in the accounting world and especially here in the US where people are "sue-happy" there will always be that possibility that I could end up being sued. After all, the Big 4 are always in some litigation or another. What I would like to know is how many of you have ever been tangled up in a litigation regarding your employers or even just you. If you would like to reply to my email addy it IS correct.

    TIA
    Janice
     
    Janice Davis, Dec 2, 2003
    #1
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  2. Janice Davis

    A. L. Meyers Guest

    Yours truly testified as a witness of the prosecution against the
    chairman / CEO of his former employer's company and was on the witness
    stand for 1.5 hours. The defendant was convicted on charges of fraud
    and related white-collar crimes to 4.5 years in prison. It was not
    fun for the witness. Yours truly considers such testimony to form part
    of professional conduct.

    A. Lucien Meyers, CIA, CMA
     
    A. L. Meyers, Dec 2, 2003
    #2
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  3. Janice Davis

    Wayne Brasch Guest

    My husband has concerns about me going into forensic accounting because he is worried litigation might come against me. I am, however, not going to let his concerns deter me. You see, he heard about a CPA in CA that was being sued by a former client because he chose to do prepare the F/S different from another CPA. I didn't have the heart to tell him that in the accounting world and especially here in the US where people are "sue-happy" there will always be that possibility that I could end up being sued. After all, the Big 4 are always in some litigation or another. What I would like to know is how many of you have ever been tangled up in a litigation regarding your employers or even just you. If you would like to reply to my email addy it IS correct.

    TIA
    Janice

    I have been preparing tax returns since 1963, have been a CPA since 1974, and have been teaching accounting and tax subjects for 20 years and have never been sued by anyone for anything related to any of these. I do all of these things to the best of my ability and so far so good!

    Wayne Brasch, CPA, M. S. Taxation
     
    Wayne Brasch, Dec 2, 2003
    #3
  4. My husband has concerns about me going into forensic accounting because he
    is worried litigation might come against me. I am, however, not going to let
    his concerns deter me. You see, he heard about a CPA in CA that was being
    sued by a former client because he chose to do prepare the F/S different
    from another CPA. I didn't have the heart to tell him that in the accounting
    world and especially here in the US where people are "sue-happy" there will
    always be that possibility that I could end up being sued. After all, the
    Big 4 are always in some litigation or another. What I would like to know is
    how many of you have ever been tangled up in a litigation regarding your
    employers or even just you. If you would like to reply to my email addy it
    IS correct.
    ----------------------------------


    Well, you could be sued "here in the US of A" if you are in the retail sales
    business, specifically ladies clothing, because, that dress really DOES make
    her look fat.

    Never been sued *knocking on my monitor screen*, but it was threatened once
    by a disgruntled client. The fact that he didn't do anything I had
    suggested he needed to do (like pay quarterly taxes) never seemed to phase
    him in his quest to determine who was at fault because he owed not only the
    tax, but a penalty to boot.

    Most issues can be resolved in advance through a tight engagement letter, a
    good liability policy (from a great company), and common sense.
     
    Paul A Thomas, Dec 3, 2003
    #4
  5. Janice Davis

    Bob Guest

    My husband has concerns about me going into forensic accounting because he is worried litigation might come against me. I am, however, not going to let his concerns deter me. You see, he heard about a CPA in CA that was being sued by a former client because he chose to do prepare the F/S different from another CPA. I didn't have the heart to tell him that in the accounting world and especially here in the US where people are "sue-happy" there will always be that possibility that I could end up being sued. After all, the Big 4 are always in some litigation or another. What I would like to know is how many of you have ever been tangled up in a litigation regarding your employers or even just you. If you would like to reply to my email addy it IS correct.

    TIA
    Janice

    I have been preparing tax returns since 1963, have been a CPA since 1974, and have been teaching accounting and tax subjects for 20 years and have never been sued by anyone for anything related to any of these. I do all of these things to the best of my ability and so far so good!

    Wayne Brasch, CPA, M. S. Taxation


    I think most small accounting firms are not sued because they don't audit SEC registered companies with lots of shareholders. Tax work doesn't seem as lucrative or have the "big pockets" as public audits.
     
    Bob, Dec 3, 2003
    #5
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