A Guide to Building a Culture of Accountability at Your Firm

Compared to other workplaces in different industries, the typical accounting firm deals with a greater need for a direct and clear management style.

Compared to other workplaces in different industries, the typical accounting firm deals with a greater need for a direct and clear management style.

 

How a Domain Name Change Impacts Search Rankings

You may have heard some buzz about the top-level domain “.CPA” promoted by the AICPA. It’s an exciting thought, but how might it impact your firm?   You may have heard some buzz about the top-level domain “.CPA” promoted by the AICPA. It’s an exciting thought, but how might it impact your firm? Why would I change my domain name?

Real Cyber Attacks: FireEye, Major Cybersecurity Firm for Business and Government, Is Hacked

  FireEye, one of the largest cybersecurity companies in the United States, said on Tuesday that it had been hacked, likely by a government, and that an arsenal of hacking tools used to test the defenses of its clients had been stolen. The hack of FireEye, a company with an array of contracts across the national security space both in the United States and its allies, is among the most significant breaches in recent memory. The company’s shares dropped 8% in after-hours trading.

Cyber-security has been a major risk concern for CPA firms of all sizes across the country. Trusted advisers such as CPAs should therefore be well-informed about preventive measures in order to assist their firms and clients with the pre-breach environment, and to reduce the losses associated with the post-breach environment.

You will find a wealth of best practices and risk management resources at your fingertips on the CAMICO Members-Only Site. There are 5 main areas of important information and tools for accountants who are CAMICO policyholders.

1. Knowledge Tree:

Accountants (CPAs) can receive training and NASBA-accredited CPE through the many free CAMICO educational opportunities available to CAMICO policyholders. In-depth risk management training provides up-to-date information and insights on issues of significance to the accounting profession. All CAMICO policyholders have access to the following:
 

CLAIMS HANDLING APPROACH

In spite of a CPA’s best intentions, there is always the potential for an error, omission, or client disappointment. CAMICO policyholders work directly with in-house claims specialists who have many years of experience in handling accountants’ professional liability insurance claims. CAMICO follows three basic steps when handling claims:

 

1. PHILOSOPHY

No-Cost In-House Expertise Utilize our in-house specialists who have an average of 16 years of experience in risk management and average of over 20 years of experience in public and private practice per individual. CPAs can call a General Loss Prevention hotline as well as specialized hotlines focused on the following areas:

1. Tax
2. Accounting & Auditing

CAMICO – CPA Professional Liability Insurance provider for over 30 years – has developed a wealth of information about what causes disputes between CPAs and their clients. Here are five pitfalls that are especially prone to litigation (CPA Malpractice).

No one likes to think about it, but as we age, some of us will become critically ill or injured, and some of us will experience a long-term disability or even have family emergencies or obligations. This is where practice continuation planning is important.





Visit

Accountants face unique challenges when it comes to CPA professional liability insurance, and finding the right provider can be difficult. However, a knowledgeable and experienced industry veteran can help you decide on the right company to trust with your insurance and risk management program.