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Why Subscribing Represents Both a Prudent and Cost-Effective Investment
Subscribe Now - Risk Free!
Ten Reasons:
- A gross disproportion exists between the losses you might incur from a malpractice claim and the revenue you will earn from any given engagement. Even private company engagements can yield losses far exceeding the limits of your insurance policy and your firm's means. As we have seen recently, Armageddon-type claims can ruin your life's work. Even though every one of our members believes strongly that such a claim will never happen to them, we are in the business of constantly reminding them that it can. And for those who know for sure it will never happen to them, we note that over the past twelve years, the number of bright financial, tax, and audit professionals that have lost some or all of their life's work to malpractice claims has climbed over the 100,000 level. Our mission is to deliver the resources that will help you avoid malpractice claims and complacency. Utilizing advanced technologies and web delivery mechanisms, we have gone to extraordinary lengths to bring these resources to practitioners at subscription rates that could not even have been contemplated several years ago. Do you want to have these resources at your fingertips? What is a service that is dedicated to your protection worth? Is such a service worth more than our $249.95 per year subscription rate? We believe so.
- Audit standards related to assessing engagement risk and detecting fraud have emerged with a vengeance this year. We believe that our resources constitute unique and never-before-available tools for satisfying those new standards. Moreover, as tools needed to satisfy new requirements, they constitute expenditures that should be charged to engagements. In short, every practitioner should be able to utilize these services at no net cost. This leaves every practitioner with the ability to take advantage of resources costing millions to develop and update at no net cost. Why wouldn't you try this service?
- Most professionals don't have the time to keep up to date on all the latest in liability exposures for financial professionals? With the plethora of new services being provided, such as business valuations, consulting, litigation support, mergers, investment advisory and internal audit outsourcing, together with an expansion in the liability exposures related to traditional services such as audit, tax and accounting services, it is not reasonable or possible to keep up. Every month we deliver at least one concise and cutting-edge report on issues related to accounting malpractice. We also develop next-generation resources that you can use for any purpose, including client service, that do nothing other than inform your judgment about assessing risks. Wouldn't that alone be worth our subscription rate?
- We are completely independent of the traditional authorities guiding CPA and financial professional activities. For example, we do not profit by offering you courses and certifications in business valuations, so we do not have to be concerned about informing you that they can be very risky propositions. We do not have to worry about whether we might be offending anyone or impairing any particular group's profit potential. We will tell you straight about your potential for loss exposures, whether you like it or not. Wouldn't that alone be worth our subscription rate?
- Our expertise is in delivering resources, advice and research designed to mitigate or prevent Armageddon-type claims. While our online, real-time and consultative resources are excellent tools for advancing overall loss prevention goals and educating staff, we focus our primary efforts at identifying and preventing those claims that can be significantly damaging. Over the past twelve years, three of the top ten largest firms in the US have either failed or been bailed out of failure by a merger. These firms were all operated by highly regarded and sophisticated partners who, no doubt, never thought it would happen to them. In fact, they would have scoffed at such thinking. We believe that, before their failures, none of these firms thought they needed to employ independent and outside expertise to support their loss prevention goals. Does that approach make sense anymore?
- Our unique, innovative, and cutting-edge resources advance your risk assessment and loss prevention goals at the margin where you are at greatest risk. Consider some examples from sports. As a tennis player gets better, he hits the ball harder and nearer the lines. That is what yields him higher winnings. As a professional grows in experience, he takes risks that put him closer to the line. The trouble is that, in the audit and consulting professions, there is no clear line to aim at. In retrospect, it is clear that Andersen went way over the line. Our job is to tell you where the line is, not according to where professional organizations want it to be, but from the only place that really counts, the court system. Also consider that every golf equipment manufacturer spends millions of dollars and thousands of hours trying to make a club or ball that results in straighter and longer drives. Their work is on the margin. Reducing Armageddon-type claims also must be advanced on the margin. New risk assessment resources must be innovative, fast and push the envelop of risk assessment while not costing additional time and money. Our services deliver on both of those goals. We believe you will agree that our services are most effective for informing your knowledge about higher risk circumstances. They may not be valuable in all circumstances, but in others they will be invaluable. What is there to lose from trying it? We offer a money back 60-day guarantee.
- Plaintiffs' attorneys of all sizes and stripes lie awake at night trying to figure out new and more innovative ways to bring suit against you and your firm. Whether their focus is on audit, tax, review or non-audit services, you represent their best opportunity to become rich. We are the only organization that is solely dedicated to not only warning you of liability risks, but also developing resources and databases that will, if not always help you avoid a claim, provide you with a reasonable basis to succeed in a defense. In short, we can help you mitigate exposures even after they happen. Call us on our hot line.
- We come to you. Subscribing to our site means that you not only get access to our web-site, but also that we regularly deliver to you our X-gap reports. This monthly report is the most unique e-publication ever produced for accountants in that it delivers not only current articles and advice, but resources and a support network as well. We know that you do not have time to read everything so the X-gap reports have been developed such that you can quickly scan them to see if there is content of interest to you. For an example of an X-gap report click here.
- You can come to us. We welcome questions from our members and will endeavor to assist by either answering the question or directing you to someone who can better help you. We recognize that there are times when you would like to consult with a completely independent person. Given that we are the creators of not only AccountingMalpractice.com, but DirectorMalpractice.com and JDMalpractice.com, we may be in a good position to assist you. Our staff is experienced and covers a wide spectrum of qualifications. Our staff includes people with experience in litigation, investigation, auditing, business development, personnel, forensic accounting, academia and corporate finance. We recognize that accounting can be a rewarding experience. We also know that litigation can turn that rewarding experience into something akin to a three-year long bus crash. We look forward to serving you and welcome your comments and suggestions.
- No organization has ever put together a broader or deeper set of on-line database resources for use by you in mitigating your risk profile. These include the following:
- Legal case documents database. This database is one of the most unique databases on the web with more than 12,500 actual cases (50,000 court documents - not opinions) associated primarily with accounting, director and corporate matters. It is capable of advanced case and document searches. It includes tens of thousands of documents not available in Lexis or West.
- Fraud and malpractice case summary database. As an accountant, you may desire to learn about how other businesses like yours and people like you, have gotten into legal trouble. This database represents the only comprehensive body of knowledge that we are aware of that summarizes real business and audit failures in a way that you will find valuable. If you have a question about inventory treatment, takeovers or contingencies and commitments, this database can help you assess whether you could encounter similar problems.
- Industry links database. As an accountant, you have to be able to independently assess the information and recommendations being provided to you. This database contains the most extensive list of industry links that we know of dealing with categories of information including: industry news, associations, specialists, attorneys, competitive pressures, economic and other information that can help you. It can save you hundreds of hours during the course of a year by delivering the relevant links in a much more efficient fashion than by relying solely on a search engine.
- Malpractice articles and engagement letters database. Available by topical area and industry type, the vast majority of the articles in our database are produced through our own research and by our own specialists. This database currently has more than 150 articles covering topics of interest to you and your staff. Our engagement letter database, while limited, is kept up to date with suggestions and terms that could save you millions in a claim circumstance.
- Financial professionals specialties database. This database of more than 8,000 professionals separately identified by specialty areas. One of the most common claims against an accountant is that he did not retain the services of an expert to assist in his understanding of a particular circumstance. This is a list of specialists by topical area and industry that may be able to help you.
- We provide easily accessible original content in the form of on-line loss prevention books and educational courses with NASBA approved CPE credits available. We are also in the process of developing several flash presentations that represent the "next generation" of on-line educational products. These flash educational products will deal with accounting and financial reporting matters.
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