ADMS 2610 Lecture Notes - Lecture 4: Accountant, Fiduciary

• School: York University
• Department: Administrative Studies
• Course: ADMS 2610
• Professor: Rudi Lof

Document Summary

A person with special skills not possessed by most individuals. The oversight body must also have the authority to revoke the professional designation form persons who fail to maintain the standards of performance for the profession. Protection of the public by ensuring professionals are licensed and qualified. Right to revoke or prevent a member from practising. Often provide negligence insurance to their members. Under the terms of the contract, the professional person agrees to perform certain specified services for the client in return for a fee. In a sense, the contract establishes a contractual duty on the part of the professional to perform the agreed professional services. In the case of a breach of contract by the professional, the client may be able to hold the professional liable for any foreseeable loss that the client suffered as a result of the professional"s breach of the contract.