Alert - Final Tangible Property Regulations Require Filing Application for Change in Accounting Method for 2014 Tax Year

Since the time this Alert was written, the AICPA has announced that the IRS and Treasury are considering the AICPA’s recommendations to provide relief from the reporting requirements related to the repair regulations. The AICPA stated that it is “hopeful” that the IRS and Treasury “will release some form of relief for small businesses in the next couple of weeks."

Impact #103 - SSARS No. 21 Webcasts

As you may know, SSARS No. 21 is effective for engagements on financial statements for periods ending on or after December 15, 2015, but early implementation is permitted. CAMICO offers its policyholders SSARS No. 21-compliant engagement letters that are available on the Members-Only Site under the Engagement Letter Resource Center. In addition, CAMICO has made available a short 23-minute, information-only webcast (no CPE) providing an overview of some of the changes brought about by SSARS No.

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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