Some companies have manipulated earnings, through a variety of mechanisms, and the accounting profession has been criticized for being too lax in watching over its clients. And, in the wake of business failures and frauds, the government, the business community, and the public have asked why accountants did not detect and report the underlying financial infirmities and irregularities. The legislative, judicial, and professional responses to these events have reshaped the environment in which accountants perform their services. The Federal Securities Litigation Reform Act and state law tort reform proposals also must be considered. This annual course of study provides an overview of the various and rapidly changing principles now governing the field of accountants' liability.
Ample opportunity is provided to address written and oral questions submitted by the registrants.
How the Securities Litigation Reform Act of 1995 has affected practice and procedure in claims against accountants. As audits and other financial statement services decline in importance relative to consulting, accountants increasingly are being sued for consulting services, management advisory services, and counseling. A book of specially prepared study outlines and related material will be distributed at the course site. To ensure that study materials are as timely as possible, books generally are not printed until immediately before the program, and thus are not usually available in advance of the course for which they are prepared. To order these materials separately, please use the form provided.