Complying with requests from banks and other lenders for assurances regarding clients' financial strength could put CPAs and their licenses at significant risk.
Client screening is an important practice management tool and is the first step in an effective loss prevention program. It can also be used to identify less desirable clients that may be keeping your firm from developing the type of clients you want.
CAMICO claims experience shows that cybercriminals tend to step up their attacks in late March and early April as tax professionals work to wrap up their clients' tax returns.
Tax professionals are urged to be extra vigilant for email scams, even as tax work intensifies.