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This is a notice for site visitors
Amber 
Some CPAs believe that they will never be sued and therefore believe that they don’t need professional liability or other forms of insurance. The reasons for this position vary, but some common ones include, “I don’t make mistakes,” “All of my clients are friends,” or “I do tax work only.” The problem with this approach … Read more
CPA liability exposures during tax season are always a concern. However, liability exposures during this tax season are even more exacerbated given the added complexities with increased economic and tax-specific relief measures. As a reminder, here are some actions that practitioners can take to successfully manage risk exposures. Defensive documentation is essential to successfully manage … Read more
CAMICO is pleased to announce that we have entered into a relationship with Zywave, our strategic partner, to offer qualifying policyholders access to a comprehensive cyber solution platform offering cyber-related assessments; training opportunities, policies and procedures, a phishing test and access to cyber experts via their advice hotline. The new platform’s anticipated go-live is scheduled … Read more
Topic: Voluntary PaymentsServices: Tax Return Prep, Submission Claim 1: Peter Thompson of A6 Accounting Services received a letter from the state of Michigan advising him that an audit had been performed on his client’s 2021 tax return, and that penalties of $2,888 and interest of $11,679 were assessed. Thompson’s client owns a boat rental company … Read more
Outsourcing is a hot topic right now for the profession as CPA firms struggle with staffing constraints. Current challenges associated with firms attracting and retaining talent are expansive and include issues such as staffing qualified professionals for complex engagements, employee burnout, unrealistic and “heavy” workloads, as well as limitations on the ability to maintain and … Read more
Why would we ask a professional candidate with a well-crafted resume to complete an employment application? While many might think that a resume and an employment application are redundant, not all the information requested on an employment application is included on a resume. It is typically a best practice to simply let the candidate know … Read more