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QBE Cyber Resources – eRiskHub.

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A recent report from Netdilgence highlighted the increasingly difficult cyber risk environment for by business.  A copy of the paper is available  here. CPAGold™ members have access to a broad range of cyber risk services. One of the most useful is the substantial support and resources provided by eRiskHub. eRiskHub offers a range of tools and information […]

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Your Malpractice Insurance Policy May Not Cover You for Fraudulent Wire Transfers

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by Rickard Jorgensen, FCII, ACIArb., ARM Back in July 2017 we posted a blog about a protocol to minimize the possibility of a social engineering claim (Go here for the posting). This topic has become of interest to CPAs as the number of spoofing claims has increased.  A recent posting on the KnowBe4 website (go here […]

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Who handles my claim at QBE?

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We’ve had some really positive feedback about the excellent claims specialists at QBE. Fast, efficient and expert are some of the admiring words we’ve heard. But who are the good folks and what do they look like? I asked the guys to give us a quick bio and photograph so if you ever need to […]

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Does your malpractice insurance cover you for criminal acts?

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 […]

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When to disengage

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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 […]

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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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New Media Communication and Professional Liability Insurance

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by Rickard Jorgensen, FCII, ACIArb., ARM Last week we received an inquiry from a CPAGold™ member firm regarding text messaging with clients. After discussions with Ralph Picardi the risk consultant for the CPAGold™ program and outside counsel, the consensus was use of texts to communicate with clients is not effective risk management practice. The problem […]

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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 […]

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Claims 1: Where the rubber meets the road.

This is the first in a series of blog posting on the subject of claims.  The first article addresses the subject of what and when to notify a potential claim. An accountants’ professional liability policy is written on a claims made basis.  This means claims – or incidents that might give rise to a claim […]

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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 […]

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