View Recent Blog Posts in this Area of Practice

• Professional Liability Claims Against Louisiana Certified Public Accountants By Charles S. McCowan, Jr. In 1997, the Louisiana Legislature adopted a claims review panel procedure involving “claims” against certified public accountants and firms.  “Claims” as contemplated by the Act are broadly defined as: (1) "Claim" means any cause of action against a certified public accountant or firm, regardless of the legal basis of the claim, including but not limited to tort, fraud, breach of contract, or any other legal basis, arising out of any engagement to provide professional services, including but not limited to the following: (a) The providing of attest services as defined in R.S. 37:73(1)(a). (b) The providing of business or financial advice. (c) Advice relative to plans or actions to qualify for tax benefits or otherwise reduce the amounts of tax owed. (d) Advice relative to the structuring of pension or retirement or insurance plans or other employee benefits. (e) The provision, including design, of computer software for ....
• Duties and Responsibilities of the State Board of Certified Accountants of Louisiana By Charles S. McCowan, Jr. The declared purpose of the Louisiana Accountancy Law, is to promote the reliability of information that is used for guidance in financial transactions or for accounting for or assessing the financial status of private and public clients. To that end, the Louisiana Legislature has decided that it is in the public interest to regulate the qualifications and conduct of those with special competency and skill in the field of accounting and has created the State Board of Certified Public Accountants of Louisiana and given it the responsibility to regulate entry into the practice, the continuum of practice and enforce the provisions of the law with respect to violations of the various prohibitory provisions. In addition to the statutory grants of authority, in carrying out its duties, the Board has promulgated an extensive set of regulations.The Accountancy Act statutorily fixes the qualifications for a certificate as a certified public accountant in Louisiana, ....
• Regulation and Liability of Accountants Pursuant to Louisiana Law By Charles S. McCowan, Jr. This is the first of a three-part series related to Louisiana law and regulations pertaining to the accounting profession. This part focuses on the historical licensing and regulation of the profession by the State of Louisiana. The Louisiana statutes and regulations governing accountants have become much more sophisticated and comprehensive through the years. In the early 1900s the State’s emphasis was on the qualifications and admission to the practice of public accounting. This continues to be a focus of the state¹s efforts; however, like other learned professions, the Louisiana legislature has adopted additional provisions recognizing the inevitable fact of life that: "Professions once seemingly inviolate from litigation are no longer sacrosanct. The age old axiom that physicians bury their mistakes, while attorneys and accountants file theirs away, has little relevance in modern day America.” The purpose of this article is to ....