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Mike Ray selected as CAMICO’s next President and Chief Executive Officer

Mike Ray, CPA, will become President and CEO, effective January 1, 2025. SAN MATEO, Calif. (July 24, 2024) — CAMICO, the nation’s largest CPA-owned and directed program of insurance and risk management for the accounting profession, announced today that Mike Ray, CPA, will become President and Chief Executive Officer (CEO), effective January 1, 2025. Ray … Read more

CAMICO Earns A- (Excellent) Rating From AM Best

SAN MATEO, Calif.— CAMICO, the nation’s largest CPA-owned and directed program of insurance and risk management for the accounting profession, announced today that AM Best has upgraded its Financial Strength Rating to A- (Excellent) from B++ (Good) and the Long-Term Issuer Credit Rating of a- (Excellent) from bbb+ (Good). In excerpts from its 2024 report, … Read more

CAMICO Appoints Two New Board Members

  SAN MATEO, Calif. (June 28, 2024) — CAMICO, the nation’s largest CPA-owned and directed program of insurance and risk management for the accounting profession, elected Debra Lockwood and Paul Nienow, CPA, MST, to the company’s board of directors on June 18, 2024. Lockwood retired in 2017 as a partner at the national CPA firm … Read more

Understand Your Risks: Generative Artificial Intelligence Solutions

Generative artificial intelligence (“AI”) solutions such as OpenAI’s ChatGPT continue to gain popularity. Many CPA firms seek to leverage the use of generative AI to accelerate innovation and increase productivity. As the use of AI technology evolves, CPAs need to obtain a solid understanding of their needs and objectives – and gain an understanding of … Read more

Risk Management Aspects of the Employee Retention Credit Withdrawal Process and Voluntary Disclosure Program

                                     By Duncan B. Will, CPA/ABV/CFF, CFE and Anthony J. Cooper, J.D., MBT In late December 2023, the IRS announced a Voluntary Disclosure Program for taxpayers who claimed and received the Employee Retention Credit (“ERC”) but are ineligible. … Read more

Corporate Transparency Act

CAMICO continues to receive inquiries from policyholders regarding implications of assisting clients with the new beneficial ownership information reporting guidelines under the Corporate Transparency Act (“CTA”). CAMICO issued a policyholder Alert in December 2023 on this topic, which included, among other things, a Frequently Asked Questions (“FAQ”) document that highlights many of the common inquiries … Read more