CAMICO has been advising CPAs on fee issues for 28 years, and claims experience over that time has shown that suing clients for fees almost always prompts a cross complaint for malpractice. This in effect escalates a simple fee dispute to a professional liability lawsuit.
If there was ever any doubt about the importance of data security, consider that the total number of breaches does not appear to be slowing down in the least. Since 2005, the total number has grown from about 580 million records in 2011 to about 870 million in 2014, and more than 250 million of those records have occurred from 574 breaches in the financial and insurance services sector, according to Privacy Rights Clearinghouse (https://www.privacyrights.org/data-breach/new).
Social media has contributed to the blurring of boundaries between work lives and personal lives, partly because social media sites are open to both personal and work-related content, which can be posted from home computers as well as work computers.
All significant client meetings should be documented with a written description of the subjects discussed at the meeting. This will help ensure that both you and the client are proceeding with the same expectations and assumptions.
The IRS issued a warning this month in response to a scam that began with data stolen from tax professionals’ computers. The IRS also recommends steps that practitioners should consider to secure their data. Also included are CAMICO risk management tips.
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CAMICO, the nation’s largest CPA-directed program of insurance and risk management for the accounting profession, has appointed Michael Ryder as Vice President ... read more
