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CAMICO Tip of the Month: Beware of Business Associate Agreements

Last year, the U.S. Department of Health and Human Services (HHS) released the omnibus regulations under the Health Insurance Portability and Accountability Act (HIPAA), including implementing changes made by the Health Information Technology for Economic and Clinical Health Act (HITECH, the final rule). Some of the sweeping changes directly affect business associates. CAMICO has experienced … Read more

Why CPAs need Professional Liability Insurance

As a CPA, you need ‘Errors and Omissions’ insurance to cover damages from an error committed by your firm in providing professional services; and to protect the assets of your firm and partners from the financial consequences of a claim. However, CAMICO frequently hears of CPAs who choose not to purchase Professional Liability Insurance because … Read more

Tips to Protect Against Identity Theft

Data breaches and identity theft have led to an increase in fraudulent tax filings, and tens of thousands of honest taxpayers have been subjected to delays in their legitimate refund claims, according to the Internal Revenue Service. Most CPA firms are good custodians of client data, but occasionally a laptop or USB (thumb) drive will … Read more