Technical Standards Category: Business Law, Ethics, Professional Standards
Audience: CPAs, CFOs, Controllers, Auditors, Corporate Finance Teams, Public Practitioners
Delivery: 1-Day (8 Hours)
Purpose of the Course
This course provides CPAs with a deep understanding of the legal environment in which businesses operate and the laws governing contracts, business structures, liability exposure, and professional legal responsibilities.
CPAs will learn:
- Core legal principles relevant to business
- How contracts are formed and enforced
- How entity structures affect liability
- What legal duties CPAs owe clients and the public
- How to avoid legal issues and professional liability
Learning Objectives
Participants will be able to:
- Explain the major components of contract law
- Identify enforceable vs unenforceable agreements
- Evaluate legal issues related to corporations, partnerships, and LLCs
- Understand CPA malpractice risks and fraud exposure
- Draft stronger engagement letters
- Recognize red flags in client relationships
- Apply legal concepts to real-world cases
Key Takeaways
- Business law underpins all corporate activity
- Contracts must meet 5 legal elements to be enforceable
- Entity type affects liability, taxes, and governance
- CPAs face legal risk without proper engagement letters
- Understanding fiduciary duties helps prevent misconduct
- Strong documentation prevents lawsuits
