Chapter 13 Flashcards
1
Q
If a member finds themselves in a situation contrary to professional standards or law/regulations, should they address it?
A
Yes
2
Q
Can employed members be sued individually?
A
Yes - they can be sued jointly or severally with their employer and should consider whether they are adequately protected
3
Q
What must employed members comply with where thy provide tax services other than through their employer?
A
PII and AML obligations
4
Q
How can an employed member check whether they are protected from being sued?
A
Check if:
- Suitably protected in their employment contract
- There is a clause in the engagement letter that the client may only sue the firm
- Their employer has adequate indemnity insurance
