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By Suzanne M. Holl, CPA CPA firms are experiencing an uptick in clients trying to embed indemnification and/or hold-harmless clauses in various agreements with the firms. Many of the clauses are inappropriate for CPA services or are overly broad, even to the point of shifting all liability to the CPA firms. Indemnification and hold-harmless clauses dictate … Read more
With cyber-security threats coming from all directions, it’s important for CPA firms to be aware of how the risk exposures impact the firm as well as the client. Just as important is understanding how an effective cyber insurance program works with the firm before and after a cyber incident occurs. Cyber exposures and coverages are … Read more
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
