How to survive a lawsuit

Article Abstract:

Accountants should anticipate lawsuits filed against them even by their long-time clients. They should not rule out the probability of facing a legal battle when they least expected it. They should be prepared to the long hours of examinations, attendance at trial and giving testimony. Getting involved in a court case also incurs legal and other expenses. It would be better if they communicate with those who will be affected, keep in touch with their advisers and avoid blaming themselves.

Analysis, Actions and defenses, Litigation, Actions and defences

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Costs and the collective good

Article Abstract:

There are proposals to make nonprofit organizations (NPOs) follow the standards used by business enterprises in preparing financial statements. Professor Robert Anthony of Harvard Business School believes NPOs should be treated as regular firms as far as the preparation of statements is concerned. The Canadian Institute for Chartered Accountants seems to follow this line of thinking when it decided to include accounting rules for NPOs in the CICA Handbook.

Accounting and auditing, Nonprofit organizations

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