Indemnification: Understanding Your Risks

By Suzanne M. Holl, CPA

CPA firms are experiencing an uptick in clients trying to embed indemnification and hold harmless clauses in various agreements with the firms. Many of the clauses are inappropriate for CPA services or overly broad – even to the point of shifting all liability to the CPA firms. Here are some considerations to weigh before agreeing to any such clauses.

Responding to Pressure to Provide CPA-to-Lender Comfort Letters

By Suzanne M. Holl, CPA

CPAs at times come under fire from banks and other lenders pressuring them to provide assurances regarding their clients' financial strength.

Many CPAs have shared their frustrations and concerns with CAMICO regarding veiled threats from aggressive brokers and lenders alleging that their clients won't qualify for a loan without a letter from the CPA supporting the client's loan qualifications. Some brokers have even suggested that the client should seek a "more cooperative" CPA.

Pages

Latest Articles

  • 24 Jun

    Indemnification: Understanding Your Risks

    By Suzanne M. Holl, CPA

    CPA firms are experiencing an uptick in clients trying to embed indemnification and hold harmless clauses in various agreements with the firms. Many of the clauses are inappropriate for CPA services or overly broad – even to the point of s... read more

  • 18 May

    Plan Ahead: Practice Continuation for Small Firms

    By Suzanne M. Holl, CPA

    No one likes to think about it, but as we age, some of us will become critically ill or injured, and some of us will experience a long-term disability. Family emergencies and obligations can also call CPAs away from their businesses for long pe... read more