The most publicized change is the elimination of Covered Opinion Rules in §10.35, which required practitioners providing covered opinions to make certain disclosures in marketed opinions, limited scope opinions and other opinions. What this means is that a disclaimer under Circular 230 is no longer required. The
The elimination of the disclaimer requirement was prompted in large part by widespread overuse, where the disclaimer would appear on all written correspondence regardless of whether it was a covered opinion. Although the new regulations do not prohibit the use of general disclaimers that do not reference Circular 230 or
That does not mean, however, that the use of all disclaimers should be discontinued. Firms should continue to use a "Confidentiality" disclosure to provide protection in the event of an inadvertent breach of confidential communications.
CPA Protector Plan has collaborated with
The CPA Protector Plan is a specialty insurance program offering comprehensive professional liability insurance solutions and risk management services to CPA's and their firms nationwide. Coverage is provided on a claims-made basis and designed to meet the needs of firms offering either traditional accounting services or multi-dimensional professional services.
CPA Protector Plan is administered by
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