Embezzlement and the ‘Classic’ Claims Scenario
By Ron Klein, J.D.
13
Nov
13
Nov
How to respond to subpoenas
CPA firms are often uncertain about whether or how to respond to a subpoena, as they also need to comply with a number of rules and regulations that are intended to protect client confidentiality. The following Q&A focuses on understanding the nature of subpoenas and how CPA firms can minimize their professional liability exposures when responding to them.
What is a subpoena?
13
Nov
The New 'Hosting Services' Interpretation
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 firm's independence is deemed impaired.
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Latest Articles
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07 Feb
Hacker Attacks on Email Systems and Tax Files
CAMICO's cyber-related claims experience reveals that hacker attacks on CPA firm email systems were the most frequent cause of cyber-losses for firms. These cyber-attacks accounted for almost two-thirds of cyber-related claims.
Many claims are also related to tax return prepa... read more -
17 Jan
War Story #116
War Story #116: Business Management/Accounting Services, Wire Transfer Fraud
Sophisticated hackers can cause a lot of trouble, damages, and wasted time if precautions are not taken to avoid their traps.
read more -
17 Jan
Human Resources Policies and Forms: The Backbone of the Firm
By Emily Franchi
#MeToo, Ban the Box, and the Second Chance Act are just a few of the movements and laws that have changed legislation and required employers to update policies and practices. As federal, state and local governments pass new employment laws and update e... read more
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