How to respond to subpoenas

CPAs in receipt of a subpoena should consider the information in the client files, the recent communications with the client or any parties involved, and then contact their professional liability risk adviser or attorney before responding to the subpoena. CAMICO provides this consultation for our policyholders.

The following Q&A focuses on understanding the nature of subpoenas and how CPA firms can minimize their professional liability exposures when responding to them.

Top 5 Ways a CPA Can Invite a Malpractice Lawsuit

After more than 31 years of malpractice claims experience, CAMICO has developed a wealth of information about what causes disputes between CPAs and their clients, what leads to litigation, and how to avoid or minimize the damages from such conflicts. There are basic risk management steps that every firm can take to lower their exposures to risk, such as client and engagement screening, due diligence, documentation, due care, exercising skepticism, and being aware of the public standards for CPA services.

Pages

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