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This is a notice for site visitors
Signed engagement letters help CPA firms improve communication with clients and protect the firm from litigation as “the first line of defense.” Use the following tips to help you write more effective engagement letters. Engagement letters should…• State the purpose of the engagement.• Define the scope and limits of the engagement.• Specify known negative conditions … Read more
By Suzanne M. Holl, CPA Complying with requests from banks and other lenders for assurances regarding clients’ … Read more
Alternative dispute resolution (ADR) can be an effective way to reduce the time, expense and stress of resolving professional liability conflicts when used in the appropriate circumstances. Mediation and arbitration are forms of ADR that can reduce the cost and the emotional roller-coaster ride of disputes. The major distinction between these two ADR solutions is … Read more
CAMICO continues to receive inquiries from policyholders regarding implications of assisting clients with the new beneficial ownership information reporting guidelines under the Corporate Transparency Act (“CTA”). CAMICO issued a policyholder Alert in December 2023 on this topic, which included, among other things, a Frequently Asked Questions (“FAQ”) document that highlights many of the common inquiries … Read more
There has been a significant uptick of clients attempting to embed indemnification and/or hold harmless clauses in various documents executed with CPA firms (e.g., non-disclosure/confidentiality agreements, business associate agreements, data protection agreements, etc.) to shift financial liability through contractual apportionment of risk. CAMICO has also noted an increasing trend of clients pushing back on firms’ … Read more
Claim Chronicles 124-A Topic: Trustee Role, Services Seth Johnson was married multiple times and had eight children from previous marriages. He married Lindsey Johnson in 2012 and was married to her until his death in 2018. In 1991, Mr. Johnson established the Seth Michael Johnson Living Trust. Upon his death, the Trust was to be … Read more
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