Washington Clauses Relating to Accounting Matters

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US-P0609-5AM
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This sample form, containing Clauses Relating to Accounting Matters document, is usable for corporate/business matters. The language is easily adaptable to fit your circumstances. You must confirm compliance with applicable law in your state. Available in Word format.
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FAQ

CPAs do not act on the client's behalf when performing auditing and attestation services; in fact, CPAs are required to remain independent in fact and appearance when providing these services. However, CPAs and other professional staff may undertake a fiduciary obligation to clients when they assume specific roles.

The following people are not considered fiduciaries: Stock Brokers. Insurance Agents. Real Estate Agents acting on the other party's behalf (This is common when you are buying, as most real estate agents are acting on behalf of the seller.)

A fiduciary duty is held to the strictest duty of care. Courts have found that an accountant can be a fiduciary to his or her client when providing certain professional services including tax services, asset management, and general business consulting.

A fiduciary differs from a financial advisor because people in different careers can become fiduciaries, while a financial advisor only guides clients when making financial decisions. A lawyer and broker are also fiduciaries.

Legal Requirement The Securities and Exchange Commission requires that all entities that are publicly held must file annual reports with gaap audited financial statements.

This is because the bookkeeper holds a fiduciary duty to his or her employer. A fiduciary duty is a position of trust, creating a duty that the bookkeeper be truthful and honest in their role as a bookkeeper.

A fiduciary duty is held to the strictest duty of care. Courts have found that an accountant can be a fiduciary to his or her client when providing certain professional services including tax services, asset management, and general business consulting.

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Washington Clauses Relating to Accounting Matters