Hackers stealing tax refunds

Be sure to verify that changes in bank account numbers are legitimate when e-filing tax returns. Hackers will send fraudulent email messages with bank account numbers different from the legitimate client account numbers in an attempt to divert tax refunds into their own accounts.

First- and Third-Party Cyber Coverage from CAMICO

First-Party Coverage*

CAMICO Mutual Insurance (CMI): CyberCPASM, Endorsement PL-1045-A, adds four first-party cyber coverages; $50,000 and $100,000 limits options; optional endorsement.

  1. Breach Response Costs
    • Notification Expenses: legal expenses, computer forensic and investigation fees, public relations expenses, postage expenses, advertising expenses.

CPA Mobility Issues and How CAMICO Helps

CPA mobility, or interstate practice, allows licensed CPAs to practice across state and jurisdictional lines as long as the CPAs are in good standing in their principal jurisdiction and meet “substantial equivalency” criteria. The website www.CPAmobility.org is a useful resource maintained by the National Association of State Boards of Accountancy (NASBA) and developed by NASBA and the American Institute of CPAs (AICPA).

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Latest Articles

  • 10 Jul

    Trustee Red Flags and Best Practices

    Many clients look to CPAs as the natural choice to fulfill the trustee role, manage the assets, and carry out client wishes. For CPAs good at managing and minimizing the unique risk attributes of a trustee role, trustee work can be satisfying and rewarding. On the other hand, if a CPA unde... read more

  • 13 Jun

    Report potential claims and claims as early as possible

    CPAs are often so busy that they don't recognize or acknowledge a potential claim as it is developing. This can be particularly devastating when the damages claimed are significant and are not covered because of late reporting. It's important to pay attention to potential issues and to rep... read more