Latest / Transforming: Tales of Business Evolution
TfP 026. Why Engagement Letters Matter
Engagement letters do more than protect CPA firms; they can also be among the most valuable tools in a firm's operations.
Stephanie Otero, VP – Small Firms Advocate at the AICPA talks with Sarah Ference, Risk Control Director for the Accountants Program at CNA, and Nicole Graham, Risk Consultant at Aon, about what makes an engagement letter effective. Drawing on real claim examples, they explain how specific wording can make a meaningful difference when questions arise about what a firm was, or was not, engaged to do.
As firms move further into advisory and outsourced services, the need for a…
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