Module 16: Accountants PL Insurance (CE-Eligible)

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BE ADVISED: This package includes the module (in the eLearning format) and registration for the corresponding proctored exam (to be taken either online or in-person through Prometric). You will receive further information on scheduling your exam with Prometric. You will have 365 days from purchase to complete the module and proctored exam.

You must compolete the module in its entirety and pass the proctored exam in order to request CE credit.

Module 16 | Accountants PL Insurance
This module starts with a review of services provided by accounting professionals and coverage found under Accountants Professional Liability (APL) insurance policies. The material describes the general education and experience requirements for Certified Public Accountants (CPAs) and the types of opinions auditors can provide. Technical, ethical and statutory industry standards, the roles of various standard-setting bodies, such as the State Boards of Accountancy and State Societies for CPAs, and the impact of Sarbanes-Oxley on this profession are reviewed. This module recognizes the common law duties of accountants, their duties to third parties, and how these affect the types of liabilities they incur. After explaining the specific features of APL policies and the optional coverages that may be added, a sample APL policy is interpreted. The different types and unique aspects of APL claims, defense and damage elements, and trends in APL claims are explained. As a corollary to the claims issues, study of risk management for APL exposures and the importance and use of engagement letters as a key risk management tool are detailed. The module explains how client profiles relate to APL underwriting and factors considered in pricing APL. All of this information is utilized in the evaluation of a sample APL application.

Module and exam copyright date: 2017


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Price

$400.00

Education Type

Course Modules

Delivery Method

On-Demand

Designation

RPLU Designation, RPLU+ Designation

Certificate

Certificate in Errors & Omissions (E&O)

Business Line

Errors and Omissions (E&O)

Diamond Sponsors

Our Diamond Sponsors, listed below, commit year-long support to PLUS's mission, enhancing educational opportunities for members and the professional liability industry. We thank them for their tremendous support.