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Professional Liability for CPAs Understanding your coverage – Part II – the declarations page

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By Rickard Jorgensen, FCII, ARM, ACIArb The Declarations Page The declarations page summarizes the coverage in an easy to read one or two page document.  It comprises: The preamble: Usually this is a statement about the basis of coverage which reiterates the wording that appears on the application and in the preamble of the policy.  […]

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Professional Liability for CPAs – Understanding your coverage – Part I – the insurance application

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By Rickard Jorgensen, FCII, ARM, ACIArb This is the first of a series of 5 articles that together provide a good description of the underwriting process for accountants’ professional liability insurance and the coverage for CPA firms. ————————————————————— The insurance application is the primary document required by the insurer to “underwrite” a risk.  This underwriting […]

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The 10 Worst Corporate Accounting Scandals of All Time

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If there is one theme to rival terrorism for defining the last decade-and-a-half, it would have to be corporate greed and malfeasance. Many of the biggest corporate accounting scandals in history happened during that time. In acknowledgement of the excellent webinar about Fraud Detection recently offered by the CPAFMA, here’s a chronological look back at […]

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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’ […]

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Today’s Cyber Nightmare.

by Rickard Jorgensen, FCII, ACIArb., ARM. You could lose many, many hours of sleep if you read every one of the cyber articles that are being aimed at CPAs right now. However, if you haven’t thought about the risks to your firm from cyber attacks the insomnia is probably well deserved. A recent article in […]

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