Effective professional liability risk management is vital to creating strong and resilient accounting practices that are capable of shielding against the unexpected. Regrettably, the ‘unexpected’ arises from the unanticipated effects of human behavior.
Mountain View, CA (PRWEB) May 4, 2010
The Montage Risk Index™ CPA Score is the first online assessment tool of its kind for CPAs. It was refined and tested by nearly 400 CPA practices, defendant counsels, expert witnesses, and loss prevention specialists over the last year.
According to Montage Analytics' CEO, Kathleen S. Long, PhD, “Effective professional liability risk management is vital to creating strong and resilient accounting practices that are capable of shielding against the unexpected. Regrettably, the ‘unexpected’ arises from the unanticipated effects of human behavior, which is the epicenter of accounting practice risk.”
The application “thinks” like a team of cross-functional experts evaluating the internal procedures and culture of a CPA practice as the user responds to the dynamic point-and-click questionnaire. Based on the responses, a three-digit Montage Risk Index™ CPA Score is generated and indicates where a practice fits on a scale of "Resilient" to "Vulnerable." The higher the Score, the more vulnerable a practice is and the greater the urgency to reduce exposure to potential risks. The online assessment and resulting Montage Risk Index™ CPA Score are free for all CPAs and may be utilized as often as desired.
Data from questionnaire responses are cross-correlated and compiled into 13 categories of related professional liability risk factors. While the CPA Score provides a broad indication of risk, each category narrows the focus to specific operational weaknesses. An optional Practice Risk Report provides the top three (3) specific categories contributing to the overall Montage Risk Index™ CPA Score, thus enabling CPAs to take preemptive action to transform vulnerabilities into opportunities to strengthen a practice.
About Montage Analytics, Inc.
Montage Analytics, Inc. is a specialist in Intelligent Risk Analytics™ and operational risk assessment. Montage combines behavioral science and knowledge engineering into a planned suite of robust, confidential risk assessment software services and analytic reports delivered online for risk assessment and loss avoidance. More detail about Montage and the Montage Risk Index™ CPA Score may be found on the Montage Analytics Web site: http://www.montageanalytics.com.
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