• CPAs often attempt to deliver services that stretch their knowledge and skills — sometimes to the breaking point.
  • 30 Tips from 30 Years

    CAMICO offers 30 risk management tips in celebration of its first 30 years.

    CAMICO has collected valuable insights and information from the experience of more than 8,000 CPA firms across the country and from our own jury experience, research and consultations with defense attorneys. Here are 30 valuable lessons we have learned from the past 30 years to help CPAs and their firms better manage professional liability risk exposures. To learn more about each of these tips, click the ‘Read More’ link at the end of this list.

    1. What is your job?

    War Stories No. 1 and No. 106

    Subject: Employee Embezzlement

    Services: Write-up and accounting

    Ever since 1989 IMPACT has brought its readers War Stories from the CAMICO claims files. The War Story tradition continues to this day and is one of the many distinguishing characteristics of CAMICO’s exemplary loss prevention services, designed to warn policyholders of the many pitfalls and risk exposures facing CPAs.

    CAMICO Broadens Protection for Potential Claims

    Most professional liability insurance policies for CPAs, including CAMICO’s, are “claims made and reported” policies, which means that claims and potential claims must be made and reported to the insurance company during the policy period, or within a grace period for reporting claims, such as 60 days, after the policy period.

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    Latest Articles

    • 12 Dec

      Tax Tip – Documenting Advice and Decisions

      Failing to document important information is a common mistake that often leads to claims. If it is not in writing, it may be presumed later in court that it didn’t happen. Juries and the public generally consider CPAs to be experts in documentation, and falling short of that expectation ... read more

    • 11 Dec

      War Story 113

      #113: Difficult Client; Tax Planning and Return Preparation Services — A client with high turnover and disorganization in its accounting and financial staff is not only frustrating, but also a liability exposure if documentation is not thorough.
      read more

    • 11 Dec

      General Data Protection Regulation

      General Data Protection Regulation ("GDPR") is a European mandate that went into effect on May 25, 2018. The regulation is designed to establish uniform data privacy law across the European Union, and applies to any EU established business, including U.S. companies and firms with offices i... read more