Most accountants don’t lose their practices because they’re incompetent. They lose them because they’re casual. Casual with scope. Casual with authority. Casual with documentation. And the law doesn’t forgive casual.

If you think “I’ve known this client for years” is protection, you’re already exposed. If your engagement letter hasn’t been touched since onboarding, you’re gambling. If half your advice lives in WhatsApps, voice notes, or favours you didn’t bill for, you’re not unlucky, you’re predictable.

This isn’t a comfort piece. It’s a mirror. And it might explain exactly how good accountants quietly lose everything.

What if your next revenue stream isn’t a new client—but a red flag?
In this eye-opening second instalment of our Risk Management Series, we show you how to go beyond ticking boxes and start turning business risks into real advisory value. Learn how to score and rank risks, use COSO without the corporate fluff, and build registers that clients actually understand. Whether you’re helping them dodge compliance disasters or prepare for funding, this is how you shift from reactive accountant to trusted business strategist, and get paid for it.