Blog

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

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

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.

Tax Tip – IRS Warning and Tips to Prevent Phishing Scams

The IRS issued a warning this month in response to a scam that began with data stolen from tax professionals’ computers. The IRS also recommends steps that practitioners should consider to secure their data. Also included are CAMICO risk management tips.

... read more