Risk Management Policies

This assignment will be assessed with the following course outcomes:

: Examine critical aspects of the accountant’s legal liability pursuant to the applicable laws and management of risk including forms of business and bankruptcy.

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

As a new owner of an accounting firm, you are looking into risk management policies. What exposure does the accounting firm have regarding professional liability? Is there a type of business organization that you can use to limit professional liability and the liability of the organization or you as the owner? What safeguards can you implement to help reduce liability and/or protect yourself from additional liability? Write a paper laying out your approach and any additional steps will you take?

For more information on Risk Management Policies read this: https://en.wikipedia.org/wiki/Risk_management

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