Certified Public Accountants provide an invaluable service. Without the financial, mathematical and legal expertise of these highly skilled individuals, many people would find themselves struggling to understand how to manage and account for their finances. Regardless of the contributions of these professionals, disagreements and mishaps can still occur, so having the right coverage is vital.
When somebody hires a CPA there are many expectations about the responsibilities of these individuals. Some common tasks for these professionals include:
- Helping to plan financial goals
- Working for organizations, businesses and individuals
- Providing consultations on accounting, taxes and other financial issues
In short, they are experts with managing money and are therefore entrusted with clients’ assets and sensitive financial information.
Finding the Right Coverage
Like all businesses, CPAs are prone to human error or misunderstandings. However, like any other field having to do with finances, these mistakes can have dire consequences that can be costly to resolve without the proper safeguards. Thankfully, if you are a CPA, professional liability insurance and other coverages can help ensure that if these mishaps were to occur, you would get the support needed to come to a speedy resolution. While some may feel confident enough that they will not need insurance in this line of work, others consider it a necessity.
Speak to an agent today to discuss your options.