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By Ron Klein, J.D. CAMICO’s 33 years of CPA claims experience provides a wealth of information and lessons learned about the dangers facing CPAs. The following “classic” claims scenario has recurred many times over the years, yet CPAs often can’t believe that it is happening to them. The services rendered were “low level” enough (e.g., … Read more

Under the new “Hosting Services” ethics interpretation in the AICPA’s Code of Professional Conduct (ET §1.295.143), effective July 1, 2019, CPA independence is impaired by taking responsibility for hosting a client’s data or records. As such, if the only way that the client can access its complete records is through the CPA firm, the CPA … Read more

by Duncan B. Will, CPA/ABV/CFF, CFE Of course, you’re relieved and exhausted – in addition to the traditional tax and accounting services you perform for your clients as their accountant and trusted adviser, you’ve helped them address the new tax law, consulted on a variety of issues, and assisted them with understanding and implementing the … Read more

The new “Hosting Services” ethics interpretation in the AICPA’s Code of Professional Conduct (ET §1.295.143) became effective July 1, 2019. Under this interpretation, CPA independence is impaired by taking responsibility for hosting a client’s data or records, but “hosting services” are broader than most CPAs originally thought. What are hosting services? Under the ethics interpretation, … Read more

CAMICO’s reported cyber-related claims show hacker attacks on CPA firm email systems were the most frequent cause of losses for firms for the 14-month period from July 2018 through August 2019. These claims accounted for almost two-thirds of cyber-related claims. Cyber-criminals who access firm email accounts often manipulate incoming and outgoing messages. In some cases, … Read more

This interactive educational quiz poses 14 questions on various data security issues of concern to CPAs. Find out how well prepared you are. Click the image below or the following link to get started. Test Your Cyber IQ