Kevin Shaftan (Associate-New York, NY) authored the article “How the Engagement Letter Can Be an Accountant's Best Defense,” published in the October 18, 2024, edition of CLM Magazine. Kevin addresses Corporate Transparency Act deadlines and discusses how a comprehensive accountant engagement letter effectively mitigates professional liability risk, noting its importance for accountants engaged in new services such as Business Ownership information (BOI) reporting on behalf of clients. Kevin provides key elements of an effective engagement letter, which should go to each reporting company or entity individually and include clear definitions regarding the scope, start and conclusion of services, the client’s responsibilities and clarification on the limited scope of the accountant’s role, as well as identify deliverables and penalties for non-compliance.