GBD111. Modernising Your CPA Practice II. Growth Risks, Numbers, EPL, and Matters for Consideration.

"Actionable insights on a topic impacting firms and, really, ANY
growing organisation".


A bumper episode for any certified professional
accountant who wants to innovate and grow their practice. Steven
A. Menges (AICPA & CIMA, CPA.com California) presents this
special compilation of interviews from CPA.com's "Modernising
Your Practice" audio and content series. There's plenty of global
relevance in this in-depth, new collection of best practices from
the US accounting profession. Hear and share the individual
interviews at CPA.com/MYP.


Segment 1 (starts at 02:15). Rebecca
Toffolon, from the Accountants Professional Liability Claims
department at corporate insurance giant CNA, takes us through
some eye-opening numbers from claim data. She discusses key
insights for accounting firms to use to protect themselves. 


Segment 2 (starts at 17:40). Steven is joined by
Laura Lapidus and  Timothy Domanick  They discuss
employment practices liability (EPL) risk, a topic that is
especially important to growing firms in this new remote working
era. 


Segment 3 (starts at 55:55). CPA.com’s Matt
Towers digs into “Matters for Consideration” as well as
considerations for building a quality and risk-wellness plan. His
guests are Richard Hill, Kristy Illuzzi, and Mike Glynn.


TOPICS.


1) The Cost of Liability Risk.


Lawsuits and claims and potential claims (oh my!)

The “Pain Period” – a new statistic every firm should know

Severity: How much, why, and who; key indicators for which to
watch (and avoid)



2) Fast & Furious (& Safe) Firm Growth: Managing EPL
(Employment Practices Liability) Risk.


EPL and employment law issues

Good firms gone bad: Discrimination, harassment, and still
charting at #1: Retaliation

Tips to both stay true and avoid EPL risk as you grow



3) Matters for Consideration: A CPA Firm Quality and Risk
Wellness Plan Discussion.


Importance of building a firm quality wellness plan

what firms can do to begin creating and executing against a
plan right now

What matters come up when auditors review their peers?



OUR GUESTS.


Rebecca Toffolon, JD, Assistant Vice President, Accountants
Professional Liability Claims, CNA. In addition to her law
degree, Ms Toffolon has an M.S. in Negotiation and Conflict
Resolution from Columbia University and she uses both when firms
get sued. 

Laura Lapidus* is an employment attorney and the Management
Liability (EPL) Risk Control Director at CNA.

Timothy Domanick is Principle at Jackson Lewis P.C, a
preeminent workplace law firm.

Richard Hill has been a peer reviewer for over 25 years and
is managing partner at Mitchell Emert & Hill, P.C. in
Knoxville, Tennessee

Kristy Illuzzi is Senior Technical Manager and Staff Liaison
to the AICPA’s Technical Issues Committee

Michael Glynn is Senior Manager, AICPA Audit & Attest
Standards Team.



FURTHER RESOURCES


SEGMENT 1.


GoBeyondDisruption (Episode 88) “Modernising Your CPA
Practice”

“Be Aware or Beware: Common Indicators of High Severity
Claims” On-Demand webinar presented by Sarah Ference, CPA and
Rebecca Toffolon, Esq. Download the webinar.

CNA.com

AON.com

Statements on Quality Control Standards



SEGMENT 2.


CPA.com/MYP

U.S. Equal Employment Opportunity Commission (EEOC)

EEOC Americans with Disabilities Act (ADA) – Q&A

ADA Update: A Primer for Small Business

EEOC Charge Statistics (Charges filed with EEOC) FY 1997
Through FY 2019

EEOC Litigation Statistics, FY 1997 through FY 2019



EPL insurance and EPL articles - CNA

Jackson Lewis Coronavirus/COVID-19 Resources

Jackson Lewis Insights Blogs

Jackson Lewis Insights Workplace Law Publications



CNA Insurance for Accountants



AICPA EmployerGard



CNA’s Beyond HR (note: password protected site for CNA
policyholders)

Five Important Reasons for Employment Practices Liability
Coverage - CNA

Risk Control Bulletin Computing in Comfort for Telecommuters
- CNA



SEGMENT 3.


Peer Reviewer Alert

AICPA Technical Hotline

Statements on Quality Control Standards

CPEA (Center for Plain English Accounting)

Preparation, Compilation, and Review Engagements Guide (note:
purchase required)

OnPoint PCR



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ABOUT OUR PODCAST


The Voices. These conversations with expert
guests are recorded by different members of the AICPA & CIMA
team from our offices around the world. While the sound quality
may vary, we hope that the insights will be consistently useful.


Hear more. Get our shows every week
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Connect. #GoBeyondDisruption @AICPANews
@CIMA_News


2018-2020 Association of International Certified Professional
Accountants (AICPA & CIMA)


* Ms. Lapidus’ opinions are her own:  they should not be
construed as legal advice; they are not solicitations to buy
insurance; and they do not necessarily reflect those of the
positions of the CNA insurance companies.  Please remember
that only the relevant insurance policy can provide the actual
terms, coverages, amounts, conditions, and exclusions for an
insured in the context of a specific claim situation.