(All Free to CAMICO Policyholder Firms)

We are happy to announce we have recorded some new webcasts and have updated others. In addition, we are offering a wide selection of self-study courses leased from Checkpoint Learning. Included are several “nano” courses, which are typically 0.2 credits and run approximately 10 minutes. Some states allow nano courses to be combined for full CPE credit, and even if yours doesn’t, nano courses are a good way to quickly gain general knowledge about a topic.

We use Thomson Reuters for our CPE platform, which can be found at https://camico-learning.thomsonreuters.com

. We have developed a webcast schedule through March (see below) and will continue to add more content to the platform. We encourage you to check the Thomson Reuters/CAMICO eLearning site frequently for additional webcast and self-study opportunities.

The following webcasts are on the schedule:

Engagement Letters 101: Do’s and Don’ts for a CPA’s Best Defensive Documentation Tool

(1 hour, four minutes/1 CPE credit Business Management and Organization)

Participants will receive the latest loss prevention guidance regarding engagement letter best practices and an assortment of other client communications to reduce risk exposure.

After attending the course, participants will be able to:

• Explain how engagement letters are the “first line of defense” and how they are critical for mitigating a CPA firm’s liability exposure
• Identify what topics, words and clauses should (and should not) be included in engagement letters
• Recall basic documentation techniques both within and outside of engagement letters that can help reduce risk

Dates:

Thursday, Jan. 20, 11 a.m. – noon PST / 2 p.m. – 3 p.m. EST

Ethics Fundamentals — A Risk Management Perspective

(2 hours/2 CPE credits in Regulatory Ethics)
Note: Not state-specific. CPAs should consult with their own State Board of Accountancy to determine compliance with state-specific guidelines for ethics credit.

Ethical dilemmas are often recognized too late. The landscape for CPAs is all the more dangerous when clients or third parties push the boundaries. This presentation will use CAMICO “war stories” and Loss Prevention Hotline inquiries to bring to life these traps and often overlooked ethical requirements. Requirements clarified will include the AICPA Code of Conduct, U.S. Treasury Circular 230 and the AICPA’s Conceptual Framework.

Dates:

Tuesday, Feb. 22, 10 a.m. – 12 p.m. PST / 1 – 3 p.m. EST

Wednesday, March 2, 10 a.m. – 12 p.m. / 1 – 3 p.m.

Forensic and Valuation Risk Management Best Practices

(2 hours/2 CPE credits; 1 credit each in Accounting and Auditing)

This presentation differs from those focused on professional standards. This session incorporates “jury standards.” The presentation will help you sleep better and conduct more effective forensic, valuation and litigation support engagements, as well as improve other areas of your practice by helping you identify and address risky engagements and risky situations. The session provides a risk management perspective gleaned from handling 35+ years of forensic, valuation and litigation claims and other risk management issues.

Dates:

Wednesday, Jan. 19, 10 a.m. – 12 p.m. PST / 1 – 3 p.m. EST

Tuesday, March 8, 10 a.m. – 12 p.m. / 1 – 3 p.m.

Loss Prevention Matters, Episodes 2, 3, and 4

(1 hour/1 CPE Business Management and Organization)

Note: These webcasts can be watched in any order. They have the same format but each features different advice call questions and responses.

Professional standards establish the principles, rules, interpretations and rulings governing the practice of public accounting, but professional standards aren’t the only rules to which CPAs must adhere. “Jury standards” have been identified from CAMICO’s 35+ years of defending accountants from malpractice claims.

These courses offer summaries of recent and frequent inquiries responded to by CAMICO’s Loss Prevention Specialists on our Advice Hotlines. Curating the contents of those calls allows other accountants to learn from the advice shared with their peers.

Dates:

Thursday, Feb. 10, 1 – 2 p.m. PST / 4 – 5 p.m. EST (Episode 3)

Tuesday, Feb. 15, 1– 2 p.m. / 4 – 5 p.m. (Episode 4)

Managing the Risks of Being a Trustee

(1 hour, 30 minutes / 1.5 CPE Business Management and Organization)

This session will highlight common risk issues surrounding trustee work and ways to manage these risks. Topics include general risk observations; specific risk areas for trustee engagements; a simple exercise to gauge the potential risk of an engagement; and risk management best practices. The session will also include a discussion of the significant risks posed by the people surrounding a trust engagement: the deceased, co-trustees, beneficiaries, and other professionals.

Dates:

Wednesday, Feb. 16, 10 – 11:30 a.m. PST / 1 – 2:30 p.m. EST

Wednesday, March 9, 10 – 11:30 a.m. / 1– 2:30 p.m.

Wednesday, March 23, 10 – 11:30 a.m. / 1 – 2:30 p.m.

Pandemic Survival Guide: Fraud Prevention, Detection and Risk Management Best Practices

(1 hour/1 CPE credit in Auditing)

Many of today’s top CPA malpractice issues and risk management strategies remain unchanged, but the combination of the pandemic, related economic stressors, and standards overload has created unforeseen issues. The accounting profession is constantly in flux and under scrutiny, but the typical threats have been exacerbated as COVID-19 changed the workplace, prompted new pronouncements, necessitated altering the delivery of traditional services, and disrupted the profession’s long-established risk management paradigm. The presentation offers insight into how to recognize and respond to current practice risks.

Dates:

Wednesday, Jan. 26, 1 – 2 p.m. PST / 4 – 5 p.m. EST

Tuesday, March 29, 1 – 2 p.m. / 4 – 5 p.m.

Statements on Standards for Accounting and Review Services (SSARSs): A Risk Management Perspective

(58 minutes/1 CPE credit in Auditing)

Participants will gain a better understanding of the profession’s migration from “unaudited” financial statements through the adoption of SSARS 25, which dramatically alters the landscape for review engagements and makes minor (but significant) changes to compilation and preparation engagements. Participants will gain highlights of the risk management issues embedded in the extant and new standards, and learn best practices to address those risks. In addition, the presentation will discuss recent peer review statistics so firms can better navigate their professional responsibilities.

Dates:

Thursday, Feb. 3, 1 – 2 p.m. PST / 4 – 5 p.m. EST

Thursday, Feb. 24, 1 – 2 p.m. / 4 – 5 p.m.

Wednesday, March 16, 1 – 2 p.m. / 4 – 5 p.m.