ssAdmin

CAMICO’s Loss Prevention and Claims departments work with CPA policyholder firms every day on difficult risk management issues. The following Q&A highlights recent COVID-related trends that policyholders have discussed with our specialists. Q: What cyber best practices does CAMICO recommend for remote work, given the pandemic’s “new normal”?A: The sudden transition to accommodate employees working … Read more

John A. Dodsworth, CPA, a prime mover in the formation of CAMICO in 1986, has retired from the CAMICO board of directors after more than 34 years of service to the company. CAMICO’s chief executive officer from 1990 through 2008, Dodsworth retired as CEO on Jan. 1, 2009, and served as a member of the … Read more

Walter Waverly, CPA, had been engaged for a few years by the trustee of a substantial family trust. While preparing tax returns and compiling financial statements for the trust, Waverly came across evidence indicating that the trustee was likely misappropriating trust funds. The CPA requested more information from the trustee but received nothing. What was … Read more

CAMICO is pleased to announce the newest edition of CPA’s Guide to Effective Engagement Letters. The 14th Edition has been updated throughout, including new language for consideration in engagements related to financial statements, tax, and valuation work to address the engagement-specific implications of the COVID-19 pandemic. This new edition also includes revised record retention language … Read more

Some tax practitioners who represent California taxpayers may not be aware of the rules for assessing penalties for underpayment of estimated tax for high income earners in California. Generally, California taxpayers with an Adjusted Gross Income (“AGI”) of $1 million or more may no longer use the prior year tax safe harbor rules. Although this … Read more