Day: January 17, 2020

Timothy J. Summers was elected to the CAMICO Board of Directors at the company’s annual meeting last June. Summers will serve a three-year term, from 2019 through 2022. He is the president of Aegis Specialty Insurance Services, a subsidiary of Aegis General Insurance Agency, focused on California residential property insurance products. He is a licensed … Read more

War Story #116: Business Management/Accounting Services, Wire Transfer Fraud Tim Wahl, CPA, served an investment entity client for several years. Wahl assisted the entity’s manager, Rob Green, with the preparation of the entity’s tax returns, accounting for its investments, issuance of K1s, and coordinating Green’s requests for funds from investors when investments were offered. Once … Read more

By Emily Franchi #MeToo, Ban the Box, and the Second Chance Act are just a few of the movements and laws that have changed legislation and required employers to update policies and practices. As federal, state and local governments pass new employment laws and update existing laws each year, firms must comply by reviewing employee … Read more

On September 18, 2019, California Governor Gavin Newsom signed into law Assembly Bill 5 (“AB 5”), which establishes a three-pronged test that a business must satisfy to maintain that a worker is an independent contractor for employment purposes in the state. This bill becomes effective January 1, 2020Dynamex Operations West, Inc. v. Superior Court of … Read more

By Duncan B. Will All services performed by accountants have some level of risk associated with them. Auditors have traditionally experienced the highest-severity claims, but these claims are among the least common. Claims involving tax preparation services have been the most common, but among the least severe. From CAMICO’s experience, agreed-upon procedures (AUP) engagements have … Read more

CAMICO’s Loss Prevention and Claims departments work with CPA policyholder firms every day on difficult risk management issues. The following Q&A covers 11 of the questions and trends that our specialists hear about most frequently from you, our policyholders. Top Loss Prevention Trends Q: More and more of our clients are requesting some form of … Read more