CAMICO Tip of the Month: Do you believe you will never be sued?
- September 14, 2020
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CAMICO Tip of the Month: Engagement Letter Essentials
- July 20, 2020
Read these guidelines to assist your accounting firm in writing effective engagement letters. Continue Reading
Cyber eAlert: Fraudulent tax return filings, other cyber threats
- July 2, 2020
Since April 2020, 13 CAMICO policyholders have reported data breaches that in aggregate resulted in the hackers filing over 300 fraudulent income tax returns through the CPAs' tax software. Continue Reading
Camico Tip of the Month: Returning to the Office — What Does the "New Normal" Look Like for Firms?
- June 16, 2020
As many counties and states loosen COVID 19–related restrictions for employers across the country, more questions than answers arise regarding best practices in return-to-work procedures. Continue Reading
CAMICO eAlert: CPAs as Agents for Small Business Administration Paycheck Protection Program (“PPP”) Loans
- April 3, 2020
Guidance and sample engagement letters for CPAs regarding the Paycheck Protection Program loan program Continue Reading
Camico Tip of the Month: Hacker Attacks on Email Systems and Tax Files
- February 25, 2020
CAMICO’s cyber claims continue to show a high frequency of hacker attacks on CPA firm email systems, and many ransomware attacks are launched just before a tax return deadline. Here is a checklist of tips to help safeguard your firm … Continue Reading
Camico Tip of the Month: Avoiding estate tax return claims
- January 28, 2020
Late-filing penalties for estate tax returns are often used as grounds for professional liability claims against CPAs, in large part because of their cost: Given the steeply progressive tax rates for estate tax and rapidly accruing penalties, they often exceed $300,000. Here are some tips for avoiding penalties… Continue Reading
Camico Tip of the Month: What's the Right Policy Limit for Your Firm?
- December 13, 2019
'What should our policy limit be' is not an easy question to answer, which may explain why it is asked so often. Continue Reading
Camico Tip of the Month: The New 'Hosting Services' Interpretation
- November 22, 2019
Under the new “Hosting Services” ethics interpretation in the AICPA’s Code of Professional Conduct, CPA independence is impaired by taking responsibility for hosting a client’s data or records. Here are some safeguards to help keep the CPA firm’s independence from being impaired Continue Reading
CAMICO Tip of the Month – Avoiding Pitfalls in HR-Related Matters
- October 23, 2019
Clients sometimes ask their CPA to assist them with human resources-related matters, such as assisting with the recruitment of a new CFO, or with “redesigning their accounting department.” Here’s how to avoid some of the pitfalls in such scenarios. Continue Reading