Episode Details

Sarah Ference, CPA, a risk control director at CNA, joins the Journal of Accountancy podcast to discuss recent topics of the JofA's Professional Liability Spotlight column. 

The conversation covers lessons learned from claims involving bankrupt clients, the importance of strong and consistent documentation, and the particular risks associated with serving high-net-worth or high-profile clients. 

The episode also highlights the April column on writing effective engagement letters for client advisory services.

The articles discussed in the episode:

• January: "Don't Let a Bankrupt Client Bankrupt You."
• February: "Tell a Story With Your Documentation."
• March: "Luxury Liabilities: Serving High-Net-Worth Clients."
• April: "Tips for Writing CAS Engagement Letters."

What you'll learn from this episode:

• The reasons CPA firms can be drawn into litigation when clients face bankruptcy.
• How strong client acceptance and continuance practices can help firms identify and manage higher‑risk engagements before problems arise.
• Why documentation acts as a firm's voice in a professional liability claim — and how gaps or inconsistencies can weaken defense of a claim.

• Listen Now