• what if the client becomes the target of a federal investigation, and the association between the client and the firm becomes public?
  • Marijuana Business Clients: ‘Smokin’ Hot’ Issues for CPAs

    The marijuana industry is a prime example of a “current, emerging and future” risk area, given the number of perplexing difficulties CPAs face when trying to assess the special considerations pertaining to marijuana business clients and to the CPA firms that service such clients. At the heart of the difficulties is the split between federal law, under which marijuana is basically illegal, and the laws in states where voters or legislators have approved measures to allow the use of marijuana for medical and/or recreational purposes.

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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

    • 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