The following is a list of the top ten actions to minimize the risk of being sued.

This list was compiled by the author as a result of various discussions with top malpractice insurance companies.

 Accounting and Auditing in Volatile Times

• Tighten Up Engagement Letters
• Watch Out for Bad Clients
• Take Precautions for Fraud and Defalcation
• Protect the Privity Defense Against Third Parties
• Supervise and Manage Personnel
• Have a Workpaper Retention Policy
• Improve Billing Procedures
• Never Sue to Collect Unpaid Fees
• Tighten Up Workpapers