Tip of the month: 5 Warning Signs of a Claim

Even when covered by insurance, claims can have a significant impact on your practice in terms of time, money, professional reputation, and peace of mind. By knowing the warning signs of a claim, and calling your risk advisor early on, you can help minimize the impact of lost billable hours, revenue and sleep. What are the red flags? Here are five general warning signs that trouble may be brewing.

  • Friendly divorcing couples don't always stay friendly, and who do they blame when things don't work out the way they had hoped? The CPA.
  • March tip of the month: Conflict of Interest

    CPAs often run into situations where they have been preparing tax returns for a married couple for several years, and the couple decides to get a divorce. Divorcing spouses who ask their CPA to provide advice and services to both spouses often present a potential conflict of interest. Friendly divorcing couples don’t always stay friendly, and who do they blame when things don’t work out the way they had hoped? The CPA.

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    Latest Articles

    • 06 May

      Six Risk Management Mistakes CPA Firms Make

      Managing CPA liability risk exposures is a complex process, and it's easy to underestimate the potential for risk along the way. The following six mistakes can be avoided by being aware and taking the right steps.

      1. Not discussing questions about the insurance application... read more

    • 23 Apr

      Top 5 Ways a CPA Can Invite a Malpractice Lawsuit

      After more than 31 years of malpractice claims experience, CAMICO has developed a wealth of information about what causes disputes between CPAs and their clients, what leads to litigation, and how to avoid or minimize the damages from such conflicts. There are basic risk management steps t... read more

    • 15 Mar

      Tax Tip – Documenting Advice and Decisions

      All significant client meetings should be documented with a written description of the subjects discussed at the meeting. This will help ensure that both you and the client are proceeding with the same expectations and assumptions.

        ... read more