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This is a notice for site visitors
By Suzanne M. Holl, CPA CPA firms are experiencing an uptick in clients trying to embed indemnification and/or hold-harmless clauses in various agreements with the firms. Many of the clauses are inappropriate for CPA services or are overly broad, even to the point of shifting all liability to the CPA firms. Indemnification and hold-harmless clauses dictate … Read more
If your firm is responsible for controlling client funds, then your internal controls should be robust enough to prevent the misuse of funds. The types of engagements providing this service range from basic bookkeeping and bill-paying on behalf of clients to business management engagements in which the firm controls the client’s day-to-day financial affairs. Other … Read more
By Ron Klein, J.D. CAMICO’s 33+ years of CPA claims experience provides a wealth of information and lessons learned about the dangers facing CPAs. The following “classic” claims scenario has recurred many times over the years, yet CPAs often can’t believe that it is happening to them. The services rendered were “low level” enough (e.g., … Read more