Contact your professional liability and employment practices liability insurance carrier or agent as soon as an issue comes up. Adverse consequences often come from CPAs taking action before consulting their risk advisers. Better safe than sorry.
Cyber claims trends have increased over the past year. CAMICO Mutual Insurance provides critical cyber coverage to accountants for cyber risks through an arrangement with NAS Insurance and explains the update on current cyber claims trends below.
Engagement letters help improve communication with clients, document engagements, and protect you from litigation. By clearly defining an engagement’s scope and services, you can better avoid misunderstandings.