Incorporation of Audit Firms

Incorporation of Audit Firms
Incorporation of audit firms involves the formation of a limited company by a partnership to limit its liability against claims for negligence, offering essential protection while maintaining legal compliance under the Companies Act.
Professional Indemnity Insurance (PII)
Professional Indemnity Insurance (PII) is a form of third-party insurance that covers professionals, such as accountants or auditors, against compensatory claims arising from negligence or defective advice.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.