|
Testimonials |
|
NAPLIA
is a tireless advocate for our firm. They are very
responsive to phone calls and inquiries about policy coverage.
So I never have to wait in the dark. Overall, NAPLIA makes this
a surprisingly enjoyable process and I look forward to my
periodic phone conversations.
|
|
|
|
Client
Resources
| Lender's Request for
Self-Employed Status |
|
|
Ralph G. Picardi, Esq,
CPA
Lapping & Picardi
Ralph Picardi
concentrates primarily in the area of defending accountants,
lawyers, insurance agents and other professionals in matters of
professional liability. He further
specializes in advising
in matters of coverage, and loss control through
hotlines, seminars, risk management audits and publications. |
|
The above
example wording would be a perfectly appropriate limited
response to a lender or broker’s request for credit-worthiness
information. However, the most protective thing for the
accountant to do, especially in a state like California (with
very restrictive law on the ability of third parties to sue
accountants), would be to decline to respond to the lender’s
request. In California, unless the third party can demonstrate
that there is close and direct contact between itself and the
accountant, it will be difficult to establish the requisite
standing to bring a lawsuit alleging detrimental reliance on the
accountant’s work product or representations. By responding to
the lender or broker’s request for a credit worthiness letter,
the accountant would be helping the lender build its case for
close and direct contact. So, unless this is a client that the
accountant does not want to lose, and would lose if the
accountant didn’t provide the requested response, we advise
against responding to the request, and advise the accountant to
direct the lender or broker to the client for the needed
information. |
|
|
|
|