Latest CAMICO News

  • 24 Feb

    31 Reasons CPAs are Sued

    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 ... read more

  • 10 Feb

    War Story: FBAR reporting; tax return preparation

    For more than a decade, Sidney Swenson, CPA, prepared tax returns for one of his more successful clients, Matt Morrow, a star salesman in the construction supplies industry. Morrow had taken a job five years earlier in sales for Acme Building Products and Supplies, headquartered in the Bri... read more

  • 20 Jan

    Five Tips for Protecting Yourself During Tax Season

    Wally Bitman, CPA, a sole practitioner, was behind on completing a client's tax return. It wasn't totally his fault—a glitch in his tax preparation software meant fixing many other clients' returns as the April deadline approached. One of Bitman's wealthier clients was always late with h... read more

  • 20 Jan

    Reducing Your Risk: Documentation and Engagement Letters

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

    CPA liability exposures during tax season are always a concern, regardless of economic or professional conditions. CAMICO’s claims experience shows that many high-exposure tax claims have certain characteristics in common, pri... read more