How Your Story Will Be Told to a Jury

… and What It Tells You to Do Now!

by Ron Klein, J.D.

Among its many roles, CAMICO acts as a gathering and disseminating agent for CPA liability experiences across the nation. For 35 years we have gathered hundreds of thousands of CPA experiences and distilled the learnings those experiences provided so that we could tell CPAs about the real-world risk implications to their firms.

Engagement Letters Updated for 2021-2022 Tax Year

We have reviewed all of our engagement letters and have updated the letters as necessary for the 2021/2022 tax year. You’ll find our most popular letters on the Members-Only Site in the Engagement Letters Resource Center.

For tax letters: A date following the title means the letter was reviewed and updated (e.g., [Name of Letter] 10-21 means the letter was updated in October 2021). Those with an asterisk following their name have been reviewed but had no changes.

For sections marked "Reviewed/No Changes": The letters in those sections are current.

Client Assessment Checklist

CPA firms should evaluate all potential new clients and re-evaluate all current clients on a regular basis, at least annually. This enables the firm to better monitor clients, consider any changes that might affect the professional relationship, and avoid situations that could escalate into crises.

Firms can also stipulate in their engagement letters that the engagement is not binding until client acceptance procedures have been completed.

Three main considerations in the client acceptance process are:


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