Accounting Today – an industry trade journal – has released an article outlining some steps tax firms should take if they plan to staff up this tax season. The article explains that new staff might not have the institutional knowledge of a firm’s procedures, or be up to speed on the 2012 tax requirements. It is important to create documents and policies that address these issue. Also listed are sources for additional best practices.
InsureAccountants.com would like to remind firms that new employees or contractors also means additional risks.
- Mistakes in client work can lead to accounting malpractice claims,
- Harassment in the workplace can lead to employment practices claims,
- Rogue staff can lead to theft of monies by employees and
- Careless contractors can lead to a breach of confidential client data.
It is important to exercise due oversight of additional staff and to make sure that a firm’s insurance policies are adequate to handle the increased load and provide coverage for the work of independent contractors – not just employees. Contact us for a review of your firm’s policies or to discuss additional ways to protect your firm during the upcoming year.