This is a notice for site visitors.
This is a notice for site visitors
The following alert has been modified as a result of new guidance provided by the IRS. On February 13, 2015, the IRS released Rev. Proc. 2015-20, which provides a new simplified procedure for small businesses. Under this simplified method, a small business may adopt the final tangible property regulations on a prospective basis and Form … Read more
The CPA firm of Granger, Edwards, McDonald, & Solo (GEMS) had audited Benjamin County Sanitation Agency (BCSA) for 10 years when GEMS purchased local practitioner Charles “Skip” Towne’s solo practice. Skip was assigned BCSA because it was of no interest to the other partners for two reasons: BCSA was perceived as a “no growth” client, … Read more
Jeffrey C. Hohman, CPA CAMICO lost a good friend and dedicated colleague in Jeff Hohman when he passed away in late October 2014. Jeff had joined CAMICO in 2004 as a Loss Prevention Specialist and was always a passionate advocate on behalf of CPAs and the accounting profession. He brought to the company and … Read more
Our tax engagement letters are updated for the 2014/2015 tax year and are available in the Engagement Letters Resource Center on the CAMICO Members-Only Site. Some letters have both “standard” and “expanded” versions. The expanded versions are generally intended for more complicated engagements, but please use your professional judgment as to which version is suitable … Read more
During the past 28 years that CAMICO Claims and Loss Prevention specialists have helped CPAs with fraud exposures and damages, many lessons have been learned. For instance, CAMICO claims experience consistently shows that fraud and defalcation are major contributors to significant professional liability claims for CPAs, as illustrated by the following chart on “What Causes … Read more
CAMICO policyholders now have a members-only website that is responsive to the latest browser technology, including mobile and desktop devices. The new site offers an enhanced and more efficient experience for users with the newest browsers, and few functional changes. The user experience should be seamless and remain as secure as always. The website will … Read more