Cybersecurity and COVID-19: What You Need to Know
The COVID-19 pandemic is one of the biggest challenges people alive today have experienced during their lifetime. It’s not only attacked our health but just as bad it’s attacked the global economy. And if that’s not enough, cybercriminals are attacking adding another variable of risk individuals and businesses should be aware of. Most people who […]
How to Deal with Ethical Dilemmas as an Accountant
Certified Public Accountants (CPAs) are not immune to legal risks and can wade into risky territory at any time. Ethical and legal dilemmas cannot always be avoided. Superior risk management strategies must be put into place to help prevent any unintended legal ramifications from the work CPAs do for their clients. Common ethical dilemmas should […]
What CPAs Should Know About File Retention in the Digital Age
File storage and retention is challenging considering the various types of information CPA firms encounter. Improper file storage exposes accounting professionals to liability claims and lawsuits. The digital age has expanded the types of documents that must be dealt with to include voicemails, emails, instant messages, fax documents, images, and electronic documents. There is […]
Risk Management for CPAs Serving Cannabis Clients
As more states legalize cannabis for medicinal and recreational purposes, so too grows the need to understand the nuances of serving clients in the cannabis industry. Cannabis industry clients present all of the same risks as clients in other industries, coupled with risks unique to this growing industry. CPAs who work with cannabis industry clients […]
5 Things to Look For in an Accountants E&O Professional Liability Policy
Despite what many accountants think, not all professional liability policies are created equal. At a minimum, the best policies offer the broadest coverage at the best value with a trusted insurance provider. Some policies, however, go above and beyond. They’re not just good; they’re excellent. These policies differentiate themselves by providing the highest level of […]
6 Risks that Land CPAs in Court and How to Mitigate Them
The work of a CPA is woven into people’s complex financial affairs. When people’s finances take a turn for the worse, they have a basic desire to get their money back — which makes their certified public accountant an attractive target. There’s no way to avoid every lawsuit, but CPA firms can take many steps […]
