The Dos and Don’ts of Disengaging
By Duncan B. Will, CPA/ABV/CFF, CFE Whether due to the “great resignation,” the “great reassessment,” or the “baby boomer departure,” the CPA profession is … Read more
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Tax Season Documentation Tips
CPAs are considered to be experts in documentation by jurors (who are members of the public). Falling short of that expectation when faced with a liability lawsuit may be viewed by the public as negligent and below the standard of care for the services rendered. The following are some documentation tips to follow for tax … Read more
Six Risk Management Mistakes CPA Firms Make
Managing CPA liability risk exposures is a complex process, and it’s easy to underestimate the potential for risk along the way. The following six mistakes can be avoided by being aware and taking the right steps. 1. Not discussing questions about the insurance application with your underwriter or agent. Whether it’s for a new or … Read more
Report Potential Claims and Claims as Early as Possible
CPAs are often so busy that they don’t recognize or acknowledge a potential claim as it is developing. This can be particularly devastating when the damages claimed are significant and are not covered because of late reporting. It’s important to pay attention to potential issues and to report them as soon as there may be … Read more
5 Warning Signs of a Claim
Even when covered by insurance, claims can have a significant impact on your practice in terms of time, money, professional reputation, and peace of mind. By knowing the warning signs of a claim, and calling your risk advisor early on, you can help minimize the impact of lost billable hours, revenue and sleep. What are … Read more
