Improving the due professional care standard

Certified public accountants (CPAs), internal auditors, management accountants and other accounting and non‐accounting professionals rely heavily on the concept of due professional care to help assure the public that they prudently exercise their responsibilities. In turn, accountants failing to use adequate due professional care face legal actions when “problems” arise. Based on an analysis of several legal databases, ascertains how the courts view professionals’ use of due professional care and how accountants can minimize such legal liabilities. Then analyses how the CPA profession can better comply with this important auditing standard.