Loss Prevention Tips for Tax Season

CAMICO has been developing solutions for CPA professional liability problems for more than 31 years, and tax season has always been a major part of that activity. The use of engagement letters for non-audit work, including tax engagements, was pioneered by CAMICO as an effective way to help document the CPA’s understanding with the client.

How CAMICO’s Claims Experience Works for You

The CAMICO Claims philosophy goes back to the company's founding principles: help CPAs proactively address the costly risk management problems they face, and encourage policyholders to report problems early, before they become big problems.

The conventional insurance company approach is to discourage policyholders from reporting problems by providing premium credits for "claims-free status," thereby encouraging policyholders to handle potential claims on their own – a dangerous practice with potentially disastrous financial and reputational consequences for a CPA firm.

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Latest Articles

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    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

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  • 11 Dec

    General Data Protection Regulation

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