Learn to craft an engagement letter that builds the foundation of the accountant-client relationship.
Clients seldom have a complete understanding or appreciation of what professional services they need, how they will be obtained, at what cost when to expect results, and what their responsibilities are to help achieve their goals. For this reason, a client's expectations might not align with the services that they believe they have requested and are prepared to pay for. When this misalignment of expectations occurs, frustration, disappointment, and even blame are likely to follow. Fees go unpaid and relationships are dashed. This presentation will explain how the effective use of engagement letters keeps client services on track, keeps expectations aligned, results in fees paid in full and on time, and leads to even more business. The live webinar identifies the essential contents of an engagement letter, separating the single focus of a particular engagement from the cornucopia of offerings on websites. It will help you explain your responsibilities--and the limits on them--as well as your client's responsibilities, to achieve the results for which you were hired. You will also come to understand that an engagement letter, being essentially a contract, allows you to shape the agreement beyond the specific service for which you were hired, by for example including defensive language that would increase certainty and lessen stress around the possibility of professional liability disputes. These include damages caps, time limitations on lawsuits, handling fee disputes efficiently and confidentially, and more. The webinar provides essential information about how to achieve client engagement and client satisfaction while managing your business risk and your professional liability risk.
Add to Wishlist
Credit
More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
The Bare Bones: Identifying the Client and Scope of Work
- Who Is the Client-Entity or Its Owners?
- Describe Scope of Engagement, Deliverables, Limits on Scope, Change of Scope
- Explain the Client's Responsibilities
Process and Payment
- Staffing, Including Consultations With Third Parties, and the Use of AI
- Explain the Fee Agreement, Including Rates and Retainers
- Explain Billing Procedures and Payment Arrangements (Check, Cash, Crypto, Wire)
Disengagement by Either Party
- Client's Freedom to Terminate Engagement
- Professional's Stop Work Clause
- Procedure for Fee Disputes (Mandatory Binding ADR)
Defensive Clauses
- Cap on Damages
- Limit on Time to Sue
- Indemnity and Hold Harmless Obligation of Client
Operational Considerations
- Counter-Signature Required
- Formatting (Integrated Letter Versus Letter With Attached Terms and Conditions)
- The Perils of Working Without, or Beyond the Scope of, Your Engagement Letter
Add to Wishlist
Credit
More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on February 8, 2024.
Call 1-866-352-9540 for further credit information.
- AIPB 1.5
- This program is acceptable for 1.5 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
- AR CLE 1.5
- This course has been approved for 1.5 hours of CLE by the Arkansas CLE Board.
- Arizona CLE 1.5
- The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.5 hours toward your annual CLE requirement for the State Bar of Arizona.
- CA MCLE 1.5
- Lorman Education Services is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
- CT CLE 1.5
- Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.5 CLE credit(s).
- GA CLE 1.5
- This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.5 CLE hours.
- HI CLE 1.5
- This program was approved by the Hawaii State Board of Continuing Legal Education for 1.5 CLE credit hours.
- MO CLE 2.0
- This course qualifies for self-study CLE credit in Missouri.
- NH MCLE 1.6
- NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this Ondemand course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 99 Minutes.
- PA CLE 1.5
- This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.5 hours of substantive law, practice and procedure CLE credit.
- RI CLE 1.5
- This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.5 hours of CLE credit.
- WI CLE 1.5
- This program qualifies for 1.5 hour(s) of ondemand CLE through the WI Board of Bar Examiners.
- WV MCLE 2.0
- This program has been approved by the West Virginia State Bar MCLE Commission for 2.0 MCLE hours.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
MP3 Download
- Arizona CLE 1.5
- CA MCLE 1.5
- CT CLE 1.5
- HI CLE 1.5
- NJ CLE 2.0
- VT CLE 1.5
- WV MCLE 2.0
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
Add to Wishlist
Credit
More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Jonathan S. Ziss, J.D.
Goldberg Segalla
- Partner, Goldberg Segalla LLP, a national litigation firm with over 400 attorneys
- Co-chair of the firm’s Management & Professional Liability Practice Group, with over 35 years of experience
- A frequent columnist, author, and lecturer on accountant professional liability risk management and avoidance
- Has appeared in CA, CT, DE, FL, MT, NJ, PA, and NY and has represented clients including professional service firms, non-profits, and for-profit businesses in many other states as well
- Successfully argued to the Supreme Court of Delaware, a leading forum for financial litigation, that in an audit malpractice dispute, management’s unclean hands should be a viable defense even if the auditor’s conduct fell below the standard of due care
- Has tried dozens of cases to verdict and has handled countless administrative investigations and proceedings, mediations, and arbitrations
- Chosen to serve as an expert witness in an accountant malpractice case, addressing the enforceability of engagement letters and the differentiation among attestation levels
- Honors graduate of Franklin & Marshall College (elected Phi Beta Kappa); graduate of Villanova University’s Charles Widger School of Law (staff member, The Villanova Law Review)
- Can be contacted at [email protected] or 267-519-6820 (office), or 215-480-2572 (mobile)
Add to Wishlist
Credit
More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
All of your training, right here at Lorman.
Pay once and get a full year of unlimited training in any format, any time!
- OnDemand Courses
- Live Webinars
- MP3 Downloads
- Course Manuals
- Executive Reports
- White Papers and Articles
Additional benefits include:
- State Specific Credit Tracker
- All-Access Pass Course Concierge
Questions? Call 877-296-2169 to speak with a real person.
Access to all training products for one year
$699/year
Unlimited Lorman Training
With the All-Access Pass there is no guessing what you will need for your yearly training budget. $699 will cover all of your training needs for an entire year!
Easy Registrations
Once you purchase your All-Access Pass you will never be any further than one-click away from attending any Lorman training course.
Invest in Yourself
You haven't gotten to where you are professionally by luck alone; it's taken a lot of hard work and training. Invest in yourself with the All-Access Pass.
