Cpa's Guide to Effective Engagement Letters

The integrity of your practice depends on the contents of your engagement letters. Whether it's a new engagement, repeat engagement, or, especially, a changed engagement, you need to know what to say and how to say it correctly. Using the sample letters and advice in this user-friendly guide, you'll improve client/CPA communication, document your engagements more effectively, and protect yourself from litigation. A well-constructed engagement letter also provides an opportunity to explore other potential business with your client. A wide variety of engagement types are covered, and every letter can be easily customized and printed.

Ric Rosario, CPA, CFE, CGMA, became CEO and President of CAMICO in 2009. Since then he has seen the company grow from about 7,300 policies to more than 9,000. Prior to becoming CEO, he was executive vice president of risk management, with executive oversight of underwriting, claims, marketing, and communications for the company. Rosario joined CAMICO in 1992, primarily focused on CPA risk management, and was promoted to vice president in 1996 and to executive vice president in 2006. Rosario’s public accounting background is in the audit division of the regional firm of John F. Forbes & Co. He later joined a start-up real estate venture as controller and completed his tenure there as chief financial officer. For many years Rosario was a part-time lecturer on accounting at Notre Dame de Namur University, in Belmont, Calif. He earned a bachelor’s degree in Accounting at Saint Mary’s College, in Moraga, Calif.. Several of his articles have appeared in national publications, and he co-authored the CCH-published books CPA’s Guide to Loss Prevention Practices and CPA’s Guide to Effective Engagement Letters. Rosario is active with many state society and national committees and is a frequent speaker on CPA liability. Ron Klein, JD, CFE, is Risk Management Counsel at CAMICO. He has been with CAMICO since its inception in 1986 and managed the claims department for 20 years. In his current role, he leverages his extensive knowledge and expertise of CPA professional liability issues to help CAMICO policyholders practice sound risk management, which can help them avoid or mitigate claims. Klein also serves as a resource to CAMICO staff. He is a frequent speaker, and his primary responsibilities include developing and delivering risk management–focused CPE (through both webcasts and speaking events), and developing loss prevention content and tools for policyholders. He has seen over 4,000 professional liability claims during his tenure. Educated as an accountant and attorney, Klein holds a Bachelor of Science in Business Administration from Washington University, in St. Louis, and a Juris Doctor from Southwestern University, in Los Angeles. Prior to joining CAMICO, he was a controller, a practicing attorney, and a vice president of finance in the real estate syndication industry. Klein is a Certified Fraud Examiner and co-author of the CPA’s Guide to Effective Engagement Letters. Suzanne M. Holl, CPA, is Senior Vice President of Loss Prevention Services at CAMICO. With more than 18 years of experience in accounting, she draws on her Big Four public accounting and private industry background to provide CAMICO's policyholders with information on a wide variety of loss prevention and accounting issues.