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Industry News: Cybersecurity: An urgent priority for CPA firms

Cybersecurity: An urgent priority for CPA firms By Byron Shinn, CPA, Sarasota, Fla., and John Jorgensen, Sarasota, Fla. April 1, 2020 Editor: Valrie Chambers, CPA, Ph.D. Some tax preparers may not be aware that all tax professionals with preparer tax identification numbers (PTINs) are required to affirm that their organization has a “written security plan … Read more

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CAMICO Guidance Related to Stay-at-Home Orders

As of the timing of this communication (March 23, 2020), CAMICO is aware of four states (CA, IL, NJ and NY) that have issued formal state-wide orders for all residents to stay at home, with several other states (CT, DE, KY, OH, LA, MA, MI, NV, PA and WI) announcing similar orders to be executed … Read more

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CAMICO HR eAlert: Coronavirus (COVID-19)

Like many of you, CAMICO is closely monitoring the spread of the COVID-19 virus and following the recommendations of the Centers for Disease Control and Prevention and The World Health Organization, as well as taking comprehensive measures to protect our employees and provide for business continuity. CAMICO also recognizes the unique challenges facing our policyholders … Read more

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CAMICO eAlert: Coronavirus (COVID-19)

At CAMICO, we are keenly aware of the potential impact of the coronavirus (COVID-19). We are monitoring the coronavirus situation closely and taking steps to provide for the continuity of our services as well as the safety of our employees and the community. CAMICO recognizes the unique challenges facing our policyholders in navigating through the … Read more

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Indemnification: Understanding Your Risks

By Suzanne M. Holl, CPA CPA firms are experiencing an uptick in clients trying to embed indemnification and/or hold-harmless clauses in various agreements with the firms. Many of the clauses are inappropriate for CPA services or are overly broad, even to the point of shifting all liability to the CPA firms. Indemnification and hold-harmless clauses dictate … Read more

Disappearing Client Funds

If your firm is responsible for controlling client funds, then your internal controls should be robust enough to prevent the misuse of funds. The types of engagements providing this service range from basic bookkeeping and bill-paying on behalf of clients to business management engagements in which the firm controls the client’s day-to-day financial affairs. Other … Read more

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