Definitions of terms relevant to attestation engagements

Assertion. Any declaration or set of declarations about whether the subject matter is in accordance with (or based on) the criteria. Criteria. The benchmarks used to measure or evaluate the subject matter. Engaging party. The party(ies) that engages the practitioner to perform the attestation engagement. General use. Refers to prospective financial information for use by … Read more

Mammoth HR: A New HR Value-Add Program for You to Offer Your Clients

Provide Your Clients the HR Services You Can’t Offer Yourself Your clients count on you as their trusted advisor to recommend opportunities and solutions that can benefit their businesses. Now CAMICO and Mammoth HR , one of CAMICO’s strategic partners, are teaming up to offer policyholders access to Mammoth’s industry-leading virtual HR helpdesk services. With … Read more

Managing the Risks of Serving Cannabis Clients

First and foremost, cannabis is still considered an illegal Schedule 1 substance under federal law, and there are no guarantees that current or future administrations will continue the discretionary position that is the foundation for this industry. This dichotomy creates ethical and moral quandaries for CPAs. For example, would rendering services (tax, accounting, consulting services, … Read more

SSARS No. 23 and SSAE No. 18: Changes and Risk Management Advice

By Duncan Will, CPA/ABV/CFF, CFE Several AICPA pronouncements became effective May 1, 2017. Omnibus Statement on Standards for Accounting and Review Services – 2016 (SSARS No. 23) became effective (or most of it) when issued in 2016, but amendments to AR-C Sections 70 and 80 now address prospective financial engagements. The AICPA’s Auditing Standards Board … Read more

Protect Your Clients Against the Rise in Cyber-Attacks

CPA firms have become prime targets for identity thieves, with cyber-attacks and data breach incidents growing in frequency. Most people assume that hackers will go after larger firms, where there is more information of value to hackers. Yet the reality is that small to mid-size CPA firms are just as prone to attacks because of … Read more