I am wondering to what extent limitation of liabilty clauses are used in practice for non-audit engagement letters? I would be grateful for input from anyone using these clauses. How have you determined the amount of the limit ? I assume the use of such clauses and the basis of amount needs agreeing with PI insurers? Any problems there? How well has the limitation been received by clients, existing and new? Many thanks.
14th May 2012 11:01