AC 502 SU Incorporate Data Inferences & Reasoning to Solve Problems Discussion

Question Description

AC502-4: Examine critical aspects of theaccountant’s legal liability pursuant to the applicable laws andmanagement of risk including forms of business and bankruptcy.

PC-6.1: Incorporate data, inferences, and reasoning to solve problems.

As a new owner of an accounting firm, you are looking into riskmanagement policies. What exposure does the accounting firm haveregarding professional liability? Is there a type of businessorganization that you can use to limit professional liability and theliability of the organization or you as the owner? What safeguards canyou implement to help reduce liability and/or protect yourself fromadditional liability? Write a paper laying out your approach and anyadditional steps will you take?

Please see the file attached and follow the instruction

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