Proactively Managing Fee and Collection Issues

An effective way to avoid having a collection problem in the first place is to communicate with the client regarding your billing and collection policies, and to include stop-work or disengagement provisions, or both, in your engagement letter. Such provisions can then be enforced if the client doesn't pay you in accordance with the engagement letter.

What’s the Right Policy Limit for Your Firm?

If one had to choose the question most frequently asked by CAMICO policyholders, the likely winner would be, "What should our policy limit be?"

This is not an easy question to answer, which may explain why it is asked so often. Regardless of your level of expertise in CPA professional liability, risk management and insurance, the answer requires a careful consideration of a variety of factors that run the gamut from the relatively well defined, such as regulatory requirements, to the more subjective, such as the "sleep well at night" factor.

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Latest Articles

  • 13 Sep

    Proactively Managing Fee and Collection Issues

    An effective way to avoid having a collection problem in the first place is to communicate with the client regarding your billing and collection policies, and to include stop-work or disengagement provisions, or both, in your engagement letter. Such provisions can then be enforced if the c... read more

  • 03 Sep

    What’s the Right Policy Limit for Your Firm?

    If one had to choose the question most frequently asked by CAMICO policyholders, the likely winner would be, "What should our policy limit be?"

    This is not an easy question to answer, which may explain why it is asked so often. Regardless of your level of expertise in C... read more

  • 21 Aug

    Preparing for the Next Recession

    Economic conditions historically have a significant impact on CPA professional liability claims. When the economy is doing well, and businesses are relatively flush with money, people are less likely to notice funds missing. Fraud therefore tends to flourish and go undetected in good times... read more