A Florida CPA was sentenced in federal court in Boston for multiple counts of tax fraud and obstructing the Internal Revenue Code. Greg Takesian, 54, of Miami, Fla., was sentenced last Thursday by U.S. District Court Judge William G. Young to two years in prison and one year of supervised release, and was ordered to […]
By Seth L. Laver, Michael P. Luongo and Sarah J. Delaney of Goldberg Segalla Guest bloggers from the law firm Goldberg Segalla posted the following which we thought is timely and pertinent: Professionals assume a duty of care to their clients. Accordingly, professionals may be held liable for damages to clients that are proximately caused by […]
By Seth L. Laver, Andrew P. Carroll and Sean P. Beiter of Goldberg Segalla Guest bloggers from the law firm Goldberg Segalla posted the following which we thought is timely and pertinent: One of the most common problems facing a would-be plaintiff considering a malpractice case is when to file suit. Similarly, those that defend professionals […]
by Rickard Jorgensen, FCII, ACIArb., ARM Suspending services to a client can be fraught with problems and if not handled carefully could result in a malpractice lawsuit. The following scenarios may be the most obvious signs that it is time for you and your client to go your separate ways. Unresponsive or evasive clients If […]
A client recently requested an appropriate disclaimer for email communications. Ralph Picardi, risk management consultant to CPAGold™, suggested the following clause. This is a repeat of our earlier posting here but worth restating. Example IRS Circular 230 Email Disclaimer (Following 2014 Revisions to Treasury Regulations) This example email disclaimer is intended solely for general educational […]
What are you really covered for and why a comprehensive definition of professional services is necessary for total firm protection?
by Rickard Jorgensen, FCII, ACIArb., ARM A recent podcast in Accounting Today highlighted the fact that CPA firms aren’t just merging with other CPA firms any more – they are looking to acquire practices in Human Resource, Information Technology, Cyber Security, Web Services, Marketing, Asset Management and financial planning. The interesting presentation by Transition Advisors’ […]
How comprehensive is your coverage? Why a limitation in your professional liability policy for negligence only is a very bad idea.
by Rickard Jorgensen, FCII, ACIArb., ARM Recently one of our competitors relaunched and rebranded its accountants’ professional liability program. The new program was promoted as broader coverage and an enhancement upon the previously terminated program. There were various “bells and whistles” added to the program but one important feature was conspicuously overlooked and omitted from […]