About this class
The concept of risk is not new to practitioners. It has been around as long as the profession has provided services in a commercial setting. However, the issue of risk and risk management has increased in importance as the number and size of legal claims have increased over the years. Youwillnoticethismoduleisentitledriskmanagement,notriskelimination.Thisisanimportantdistinction and key to the material covered mostly it is about managing the risks you can identify and, if possible, eliminatingthem.However,evenifyoucan’tcompletelyeliminatemostoftherisksassociatedwithbeinga practitioner, you can reduce and manage them to an acceptablelevel. Risk management has a specific impact on life in an accounting firm. It is important in terms of protecting the assets, finances, and operations of the firm and contributing to satisfactory legal compliance, corporate governance, and due diligence. Consequently, risk management will protect the reputation, credibility, and status of the firm.
