Click Here for a free estimate!

25 East Spring Valley Avenue
Maywood, NJ 07607
1 (877) CPA-GOLD

How To Minimize The Damage Of Lawsuits

by Rickard Jorgensen, FCII, ACIArb., ARM   Things Beyond Your Control That Precipitate Lawsuits With the advent of the computer era and information age, the cultural and business climate of the nation, and world, has shifted. Businesses have become more complicated, as attitudes sanction greater and greater risk-taking. No longer are there sure-fire lifetime jobs […]

Read More

An overview of the client screening process

By Rickard Jorgensen, FCII, ACIArb, ARM Extracted from Evaluating Clients – Engagement risk screening for CPA firms. There are solid reasons for screening new clients.  Many involve not getting paid, exposure to lawsuits or even the stress related to difficult individuals.  Effective client screening can avoid these problems. Implementing a formal screening process is the […]

Read More

Mergers and Acquisitions: Malpractice Risk Management

Due diligence is an essential part of the mergers and acquisitions evaluation process. It goes without saying that the partners of the acquiring firm have strong financial analytical skills but there are additional factors to be taken into consideration. Recognizing these elements during the due diligence process will reduce the risk of a malpractice claim […]

Read More

The Risk of Being Consistent

(How Claims Arise From Following Past Work and not Our Independent Judgment) By Ralph G. Picardi, Esq. “A foolish consistency is the hobgoblin of little minds….” When Ralph Waldo Emerson penned those words in his essay, Self-Reliance, almost 175 years ago I think it is fair to say he didn’t have accounting risk management in […]

Read More

IRS Warns CPAs: Beware of Phishing

Guest bloggers from the law firm Goldberg Segala posted the following which we thought is timely and pertinent: Businesses are increasingly becoming the targets of sophisticated cyber-attacks, and professionals are no exception.  When cyber-criminals breach a professional service firm, they not only may gain access to the firm’s corporate data, but also confidential information from the […]

Read More

Evaluating Client – Part Three – Using Client Information

The amount of risk your firm is willing to take depends upon a variety of factors.  You make a business decision to accept client that are in industries that may be considered high risk.  However, you must be aware of the risks associated and undertake thorough research and evaluation of the client.  Using the standard […]

Read More

Evaluating Clients – Part Two – Assessing Potential Clients

A new prospective client is an exciting opportunity.  However, even if the prospect comes from a referral you need to get a complete understanding of the potential client’s business and have a chat with the former CPA. At the initial meetings you will want to promote your firm’s services but also find out what sort […]

Read More

Evaluating Clients – Part One – Why you should evaluate clients?

It’s tough to find new clients so any new opportunity is usually a good thing – particular if the client comes from a referral. But even good things require a degree of scrutiny and prudence. Today’s litigious society means that some people are lawsuit happy; some are dishonest; some are even crooks. These are not […]

Read More

A Retrospective:

It’s been over a year and a half since we started posting blogs. I thought it would be helpful if this month we posted a list of the topics to allow our members to look at some of our past blogs. 10 “Get Out of Court Free” Cards – Segregation of risk in an accounting […]

Read More

Cyber Insurance: Make Sure You Understand Your Coverage

March 23, 2016 by Richard B. Caplan of LeClair Ryan Today, businesses are increasingly purchasing cyber-specific insurance in an effort to mitigate the financial impact of a breach or other cybercrime.  In terms of what might be covered in a cyber insurance policy, there are basically two types of coverage – “first party” coverage and “third-party” […]

Read More