“When clients go through a divorce — and it is a scenario that awaits nearly every CPA in private practice — professional liability risk spikes,” writes Jonathan S. Ziss, a partner in Goldberg Segalla’s Professional Liability Practice Group.
“Often, the practitioner is tightly woven into the fabric of a relationship that is about to tear. The challenges can be successfully managed, though. By maintaining a clear-eyed view of the situation and taking a proactive, focused approach to communication, practitioners can successfully manage the divorce scenario and emerge with client relationships intact.”
In the latest installment in Jonathan’s “Liability Lessons” column published by the Pennsylvania Institute of CPAs, he explores an array of issues that greet CPAs in a divorce scenario — including potential conflicts of interest, confidentiality concerns, the need for new engagement letters, and more — with practical tips on how to avoid a potential professional liability claim.