# Enrolled Agent Exam [Part 3] 27, Firm Compliance Procedures

Page: https://stenobird.com/podcast/finance-exam-prep-7658413/enrolled-agent-exam-part-3-27-firm-compliance-procedures
Text version: https://stenobird.com/podcast/finance-exam-prep-7658413/enrolled-agent-exam-part-3-27-firm-compliance-procedures.md
Podcast: [Finance Exam Prep](https://stenobird.com/podcast/finance-exam-prep-7658413)
Published: 2026-09-01T22:41:20+00:00
Episode link: https://open-exam-prep.com/
Audio file: https://episodes.captivate.fm/episode/4aa122a9-10ff-4993-9fb9-eff0d9fb3746.mp3
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JSON: https://stenobird.com/v1/public/podcasts/finance-exam-prep-7658413/episodes/enrolled-agent-exam-part-3-27-firm-compliance-procedures
Duration seconds: 189

## Resource

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - Practitioners with principal authority are responsible for their firm's overall compliance with Circular 230. - A violation occurs if a firm leader fails to implement 'adequate procedures' for all staff to follow Circular 230. - Supervisors must identify and take prompt corrective action to address any 'pattern or practice' of noncompliance within the firm. - A supervising practitioner can be disciplined if their failure to act is deemed willful, reckless, or grossly incompetent. - The exam may present scenarios where a leader claims ignorance, but they are still responsible if they 'should have known' about the misconduct. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

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## Transcript

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