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Embezzlement 101

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By Rickard Jorgensen, FCII, ARM, ACIArb This month we thought you might find an article about employee theft from the perspective of the crime insurer, Hiscox Insurance. If you were to ask a group of business owners about the biggest risks they face, you’d probably get a lot of different answers. Some might say external […]

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The future of privacy starts in California

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By Rickard Jorgensen, FCII, ARM, ACIArb You may recall the recent blog postings in connection with the CCPA in California: http://cpagold.com/2018/11/consent-armageddon-is-coming/ http://cpagold.com/2018/11/are-new-statutory-claims-covered-by-your-cyber-policy/ http://cpagold.com/2018/11/california-privacy-laws-gdpr-ii/ The California Consumer Privacy Act of 2018 ["CCPA"] is effective Jan. 1, 2019  will give Golden State residents the right to find out what a company knows about them and get it […]

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Up in Smoke III – The SAFE Banking Act is Major Step Towards Access to Banks and Credit Unions (and Service Providers) for Legalized Cannabis Industry

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By Rickard Jorgensen, FCII, ARM, ACIArb This past month the majority of Democratic and ninety-one Republican members of the House of Representatives passed the landmark Secure and Fair Enforcement Banking Act of 2019, commonly known as the SAFE Banking Act. This law has been in development for six years and is intended to reduce the […]

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Professional Liability for CPAs – Understanding your coverage – Part V – Conditions – the fine print

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  By Rickard Jorgensen, FCII, ARM, ACIArb The Conditions section is usually the last section of of your professional liability policy.  This is the part of the policy which deals with such things as claims notification, cancellation, Extended Reporting Period rights, Other insurance and disputes with the insurer. Careful attention should be paid to this section […]

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Minimizing the risk of malpractice claims from lateral hires

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By Rickard Jorgensen, FCII, ARM, ACIArb Many accounting firms have aggressive plans to build their practices and expand the range of services available to clients.   Growth strategy is often comprises of several elements: Organic growth is the simplest and arises from marketing, business and employee development and cross selling services to clients. Mergers and acquisition […]

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Professional Liability for CPAs – Understanding your coverage – Part III – the coverage grant

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By Rickard Jorgensen, FCII, ARM, ACIArb Each insurer’s policy is arranged differently, and the items listed above can be located in different places and with different headings in each policy. However, by reading the explanations below, you should be able to locate them no matter where they are found within a policy. 1.  Coverage Agreements […]

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Gotcha! Three cyber policy traps to look out for (and a postcript to the CCH hack)

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The following is an article published by CFC Underwriting, a leading cyber insurer based in London. The original article appears here. ——————————————————————————————————————— Cyber insurance is projected to experience major growth in the years ahead and new insurers are regularly entering the market. While this is creating greater competition and providing more choice for customers, some insurers […]

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Data Breach and Insider Trading

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CPAs practicing in mergers and acquisitions are familiar with the sensitive nature of their work and the potential for abuse of the information obtained. In addition to the conflict of interest created by trading on that information themselves, they must take extensive precautions to ensure that they do not allow that information to slip to […]

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Limiting Malpractice through Scope of Engagement

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by guest bloggers Jennifer H. Feldscher and Seth L. Laver. A recent NY Appellate Division decision serves as another reminder of the importance of carefully defining the scope of engagement in an engagement letter. This is because, under New York law, an attorney may not be held liable for failing to act outside the scope […]

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Fraudulent Wire Transfers – the latest word

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by Rickard Jorgensen, FCII, ARM, ACIArb. In the past few years we have seen quite a few of these costly and tragic situations and paid a number of claims made against our CPA firm and investment professionals clients. The essence is that a CPA or adviser (or Trustee) is induced by a trick, artifice or […]

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