Peter Larkin provides legal counsel and representation to accountants and accounting firms in connection with all aspects of their businesses. He is co-chair of Wilson Elser’s national Accountants practice. In addition to professional malpractice defense and commercial disputes, Peter’s practice encompasses risk management, ethics proceedings, and transactional matters involving accounting firms. He also represents businesses and banking institutions in a wide array of commercial disputes.
By Peter J. Larkin (White Plains, NY) on Posted in Accountants,Professional LiabilityIf you are selling or acquiring an accounting practice, you need to read the AICPA’s new guidance “Transfer of Files and Return of Client Records in Sale, Transfer, Discontinuance or Acquisition of a Practice,” which clarifies the obligations of the selling and the acquiring parties and explains how to deal with clients that do not… Continue Reading
By Peter J. Larkin (White Plains, NY) on Posted in AccountantsIn the most recent “North America Top Technology Initiatives Survey Results,” CPAs responding to the poll ranked “securing the IT environment” as the number-one priority, followed by “managing and retaining data,” “ensuring privacy,” “managing IT risks and compliance,” and “preventing and responding to computer fraud.” The top five poll results all relate to securing, managing… Continue Reading
By Peter J. Larkin (White Plains, NY) on Posted in AccountantsFor years, U.S. Department of Labor Chief Accountant Ian Dingwall has been advising employee benefit plan administrators to avoid using auditors who “dabble” in employee benefit plans. During this period, the DOL has consistently found that approximately one third of the employee benefit plan audits the agency reviews are deficient, and points to the firms… Continue Reading
By Peter J. Larkin (White Plains, NY) on Posted in AccountantsAccounting firms often use post-employment restrictive covenants to prevent their clients and employees from being poached by departing partners and employees. As the number of accountants moving between firms has started to pick up again, so too has the number of disputes concerning the enforceability of the restrictive covenants those accountants signed at their former… Continue Reading
By Peter J. Larkin (White Plains, NY) on Posted in AccountantsI recently posed the following question to small-firm CPAs: If you become disabled or die tomorrow, what would happen to your accounting practice? If you haven’t planned for this possibility, the answer probably isn’t going to be pretty. A few days later, the New York State Society of Certified Public Accountants published an article in… Continue Reading
By Peter J. Larkin (White Plains, NY) on Posted in AccountantsIn a recent Wilson Elser Client Alert, “A Trap for the Unwary Advertiser ,” Tom Manisero (Partner-White Plains) discusses a practice that can trip up accountants looking to use their current client list as a starting point for their advertising. While your clients undoubtedly can be fertile ground for expanding your practice, you have to… Continue Reading
By Peter J. Larkin (White Plains, NY) on Posted in AccountantsEarlier this year, the New York Times reported that the SEC was “bringin’ sexy back” to accounting investigations. That’s probably not good news for those auditing public companies. In 2002, “accounting scandals” became a household phrase as the accounting frauds at Enron, WorldCom and others came to light. Although accounting fraud was nothing new, the… Continue Reading