- NY Credits : 5.0
- TX Credits : 5.0
Eldercare - Surviving Retirement and the Costs of Aging
Many practitioners have naturally responded to the needs of an aging client base with the implementation of additional services aimed at meeting those expressed needs of this special population. What is 'Eldercare' anyway? The AICPA Special Committee on Assurance Services offers the following definition: Eldercare is a service designed to provide assurance to family members that care goals are achieved for older adult family members no longer able to be totally independent. The services will rely on the expertise of other professionals, with the CPA serving as the coordinator and assuror of quality of services based on criteria and goals set by the customer. The purpose of the service is to provide assurance in a professional, independent, and objective manner to third parties (children, family members, or other concerned parties) that the needs of the older adult to whom they are attached are being met. A more straightforward definition might be as follows: Eldercare is the provision or coordination of services by a CPA that will allow the older client maximum choice of living options and other quality of life issues for the maximum time possible. The provision of Eldercare services in a CPA practice may take on many forms. Some practitioners offer limited services that are built around the strengths of the firm. Other practitioners have decided to offer a broad array of services in order to provide an effective and comprehensive coordination of services for their older clients. Regardless of which approach you choose, there are some basic concepts that should be understood before embarking on an Eldercare practice. This course is designed to build a core understanding of these basic concepts. This course is most beneficial to professionals new to issues related to aging adults in terms of medical, legal and financial issues. This course is helpful for professionals who may be at the staff or entry level in organization but also for a seasoned professional with limited exposure to elderly individuals and their medical, legal and financial needs.
Upon successful completion of this course, the user should be able to:
identify the significant physical and medical issues that result from the aging process,
identify the five life phases both pre and postretirement,
recognize the various forms of exploitation of older people; including how to recognize them when they occur,
identify the differences between guardianships and conservatorships,
identify the options available for the financing of long-term care,
identify scams and provide tips older clients can use to avoid such scams,
recognize why a CPA is uniquely positioned to provide eldercare services,
list professional standards that apply to eldercare engagements, and
identify types and feasibility of eldercare services that can be provided in an eldercare practice.