Corporate Transparency Act

CAMICO continues to receive inquiries from policyholders regarding implications of assisting clients with the new beneficial ownership information reporting guidelines under the Corporate Transparency Act (“CTA”). CAMICO issued a policyholder Alert in December 2023 on this topic, which included, among other things, a Frequently Asked Questions (“FAQ”) document that highlights many of the common inquiries … Read more

Indemnification Clauses in Client Agreements…the Saga Continues

There has been a significant uptick of clients attempting to embed indemnification and/or hold harmless clauses in various documents executed with CPA firms (e.g., non-disclosure/confidentiality agreements, business associate agreements, data protection agreements, etc.) to shift financial liability through contractual apportionment of risk. CAMICO has also noted an increasing trend of clients pushing back on firms’ … Read more

Claim Chronicles 124

Claim Chronicles 124-A  Topic: Trustee Role, Services  Seth Johnson was married multiple times and had eight children from previous marriages. He married Lindsey Johnson in 2012 and was married to her until his death in 2018. In 1991, Mr. Johnson established the Seth Michael Johnson Living Trust. Upon his death, the Trust was to be … Read more

January Tip of the Month – Helpful Documentation during Tax Season

CAMICO has been developing risk management solutions for CPAs for more than 37 years, and we recognize and understand the challenges facing CPA firms navigating each tax season’s nuances.  Below are helpful documentation tips to get you through tax season: Engagement letters. While engagement letters won’t immunize you from lawsuits, they can be your first line … Read more