Amber, Author at CAMICO

January Tip of the Month – Helpful Documentation during Tax Season

January 25, 2024 by Amber

CAMICO has been developing risk management solutions for CPAs for more than 37 years, and we recognize and understand the challenges facing CPA firms navigating each tax season’s nuances. Below are helpful documentation tips to get you through tax season: Engagement letters. While engagement letters won’t immunize you from lawsuits, they can be your first line … Read more

Engagement and Disengagement Letter Essentials

October 10, 2024October 21, 2023 by Amber

By Suzanne M. Holl, CPA Engagement and disengagement letters are two of the fundamental building blocks … Read more

Conflicts of Interest Still Cause Trouble for CPAs

October 10, 2023September 14, 2023 by Amber

By Duncan B. Will, CPA/ABV/CFF, CFE Conflicts of interest have long been a major factor in professional liability claims against CPAs. Part of … Read more

Implications of Recent Professional Standards

July 17, 2023July 10, 2023 by Amber

Plaintiffs and their legal counsel often leverage noncompliance with professional standards to strengthen cases in support of allegations of harm caused by accountants. This article highlights risk management implications of recent professional standards and offers risk management tips regarding established standards governing financial statement services. Neither the Auditing Standards Board (“ASB”) nor the Accounting and … Read more

Corporate Transparency Act/ Beneficial Ownership Information Reporting — Risk Management Considerations for CPA Firms

July 17, 2023July 10, 2023 by Amber

A folder highlighted with the word "Reports"

The Corporate Transparency Act (“CTA”) was enacted January 1, 2021, as part of the National Defense Authorization Act, representing the most significant reformation of the Bank Secrecy Act and related anti–money laundering rules since the U.S. Patriot Act. The CTA is intended to address and guard against money laundering, terrorism financing, and other forms of … Read more

Risk Management Tips for the Tax Practitioner

July 17, 2023July 10, 2023 by Amber

CAMICO has been developing risk management solutions for CPAs for more than 37 years, and we recognize and understand the challenges facing CPA firms navigating each tax season’s nuances. For example, the pandemic years’ economic and tax relief programs had complex, wide-ranging impacts on CPAs, tax practitioners, and their clients. Although most agree that the … Read more

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