This paper sets out a number of means by which
professionals can reduce or eliminate the risk of
professional liability whether as directors, employees,
partners, independent consultants or contractors. A relationship between client and professional is
commonly cited as an example of a fiduciary
relationship: the professional "undertakes or agrees to
act for or on behalf of or in the interests of' the client "in
the exercise of a power or discretion which will affect
the interests of that other person in a legal or practical
sense."2 As a fiduciary, a professional must ensure that his or
her exercise of power does not result in a position of
ascendancy or undue influence over the client. Also, a
professional must avoid situations where there is scope
for even the perception of potential conflict between his
or her professional duty to the client and his or her own
Interest.