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Anonymous

09 Jul 2020

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Career

Is there such a thing as accountants insurance?

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Yes, there are insurance policies designed specifically for accountants.

One of the key risks for accountants are lawsuits stemming from the accounting work/advice that's provided to clients. Accountants can get sued for mistakes made while balancing the books, and errors made in recognising the treatment of certain accounts. Accountants may even end up abetting in accounting fraud (knowingly or unknowingly), causing losses to shareholders.

Lawsuits against accountants can thus come from a wide variety of sources. The vast majority of accountants will carry what's known as Accountants Professional Indemnity Insurance.

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Hi yes! I think what you are referring to is Professional Indemnity insurance.

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