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September 2017 marked the three-year anniversary of the program forged by CAMICO and Berkley Alliance Managers, a Berkley company. The CAMICO-BAM program serves CPA firms seeking larger professional liability insurance policy limits, as well as firms requiring an A+ rating, as W. R. Berkley Corporation’s insurance company subsidiaries are rated “A+ (Superior)” by A.M. Best … Read more

An employee of a midsize CPA firm opened an unsolicited email attachment that immediately downloaded ransomware onto the firm’s computer system. The employee noticed that the file names were rapidly being changed to “Needs Decrypting.” The employee turned off and rebooted his computer, but the virus had already spread to all the firm’s servers, and … Read more

By Duncan Will, CPA/ABV/CFF, CFE In August 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-15 Presentation of Financial Statements – Going Concern (Subtopic 205-40): Disclosure Uncertainties about an Entity’s Ability to Continue as a Going Concern . On February 22, 2017, the AICPA’s Auditing Standards Board issued Statement on Auditing … Read more

The CAMICO Claims philosophy goes back to the company’s founding principles: help CPAs proactively address the costly risk management problems they face, and encourage policyholders to report problems early, before they become big problems. The conventional insurance company approach is to discourage policyholders from reporting problems by providing premium credits for “claims-free status,” thereby encouraging … Read more