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CPA firms are often uncertain about whether or how to respond to a subpoena, as they also need to comply with a number of rules and regulations that are intended to protect client confidentiality. The following Q&A focuses on understanding the nature of subpoenas and how CPA firms can minimize their professional liability exposures when … Read more
Would Filing an Extension Be Beneficial? March 31, 2023 CAMICO has received numerous inquiries from policyholders regarding the merits of filing an extension as an added protection for both tax professionals and their respective clients in light of the current IRS tax relief guidance for victims of severe winter storms. Although some may not perceive … Read more
CAMICO has been developing solutions for CPA professional liability problems for more than 35 years, and tax season has always been a major part of that activity. The use of engagement letters for non-audit work, including tax engagements, was pioneered by CAMICO as an effective way to help document the CPA’s understanding with the client. … Read more
Mike Ray joined CAMICO as Chief Financial Officer (CFO) on Feb. 20, 2023. In this role, Ray oversees all finance functions of CAMICO and its subsidiaries. Ray is a CPA, previously with PricewaterhouseCoopers (PwC), and for the past 22 years served … 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