How to Respond to Subpoenas

A woman looking through a CPA Insurance folder

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

Common Misconceptions that CPAs Believe Why They Will Never Be Sued

A judge's gavel

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

31 Reasons CPAs are Sued

A court house

CPAs who are sued are often in the wrong place at the wrong time with the wrong decision. These situations that landed CPAs in court are real—drawn from CAMICO’s claims files. 1) Trusting a client too much A long-time client asked her CPA to perform an audit for a new insurance company she’s invested in. … Read more