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16 May

How to respond to subpoenas

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 responding to them.

What is a subpoena?

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04 May

CAMICO posts gain in policyholders’ surplus

SAN MATEO, CA (May 3, 2021) – CAMICO, the nation's largest CPA-owned and directed program of insurance and risk management for the accounting profession, posted total policyholders' surplus of more than $45 million for the year ended December 31, 2020, up from $43.5 million posted for 2019.

CAMICO's policyholder retention rate for 2020 was 94 percent, consistent with the company's historical retention rate, and CAMICO continues to maintain key financial ratios at historically high levels.

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Latest Articles

  • 12 Jul

    Malpractice Risks Increase During Difficult Economic Times

    In CAMICO's 35 years of experience, economic conditions have had a significant impact on CPA professional liability claims. In light of the current economic challenges, now more than ever, CPAs will need to be prepared and vigilant to minimize the potential of additional liability exposure... read more

  • 09 Jul

    Creditworthiness Verifications and PPP Loans

    CPA firms receiving requests from lenders for creditworthiness verifications for clients who had requested Paycheck Protection Program (PPP) loans were often unsure of how to respond. The advice CAMICO gave CPAs assisting their clients with PPP loan applications is valid for similar circum... read more

  • 07 Jul

    War Story 119

    Subject: Business Management Services; Wire Transfer Fraud

    John Duval, CPA, had been engaged for several years by a high-net-worth client, Ed Robertson, who developed commercial and residential real estate. Duval provided business management and bill-paying services, which inclu... read more

  • 07 Jul

    Recognizing the Signs of Elder Abuse

    By Randy R. Werner, J.D., LL.M./Tax, CPA

    The elderly population in the U.S. (those 65 and older) is projected to grow to 80 million by the year 2050, and the incidence of elder abuse, including the hard-to-detect financial and material exploitation perpetrated against ... read more