Author Karen Eckstein
Edition 1st
Publication February 2019
Length 75pp (est.)
Suitable for Smaller accountancy and tax practices
Price 30
ISBN 9781912386130

Managing Risk - a Guide for Tax Practitioners


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This is a short, practical title addressing an issue that is relevant for all tax practices. The book is aimed particularly at smaller firms, including sole practitioners, who are less likely to have their own in-house risk departments.

The book sets the scene by considering why risk management has become so important. It then analyses where PI claims come from and, above all, the book advises readers on how to minimise the risk of a claim. Finally, the book gives calm, practical advice on how to minimise the damage if things do indeed go wrong.

Useful appendices include sample file review forms, forms to use when opening files, a draft client relationship cancellation notice and checklist, and more.

The author, Karen Eckstein, is a legal consultant with Womble Bond Dickinson LLP. Karen has written on the topic for the professional tax press and is a frequent lecturer. Read more here.

Contents include:

  • Introduction
  • Why is risk management important?
  • Where do claims come from?
  • Systems to minimise risk of claims
  • When things go wrong
  • Appendices:
  • - Sample file review form
  • - Professional conduct in relation to taxation
  • - Professional rules and practice guidelines
  • - Industry research
  • - File opening form
  • - Cancellation notice and checklist