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SEXTORTION – a new aspect to cyber crime and CPAs.

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by Rickard Jorgensen, FCII, ARM, ACIArb   Sextortion attacks against professional firms, including CPAs, are not uncommon and increasing in frequency.  Sextortion is a form of blackmail in which sexual information or images are used to extort sexual favors or cash from the victim.  The FBI offers an explantion of this new crime here. However, recently […]

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Why Full Tort coverage is crucial for CPAs.

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The first accountants’ professional liability insurance policy was written in the late 1930s following the decision in Ultramares Corporation v. Touche, 174 N.E. 441 (1932).  Coverage was basic – limiting the risks insured to claims made by clients arising from negligence acts.  In fact, the doctrine of negligence arose from the Scottish law case of […]

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The European Union’s General Data Protection Regulation ["GDPR']: A Brief Primer

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Think American-based companies can rest easy for the time being until regulation is enacted stateside? Think again. The GDPR’s territorial reach is not limited — and penalties can be colossal. See the following guest article from our friends at Goldberg Segalla. By Colin B. Willmott.  Go here for a bio. Even putting aside the U.S. Senate’s recent […]

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Smoke in our Eyes: Cannabis and Accounting Services

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By Rickard Jorgensen, FCII, ARM, ACIArb. Coverage for firms that provide services to cannabis growers, dispensaries and related activities has been a frequent question to the CPAGold hotline and our agents.  The marijuana related businesses require the expertise of a skilled CPA and to help pay their (not insignificant) taxes and comply with local business […]

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Best Practices to Keep Your Firm’s Accounting Software Secure

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By guest blogger – Ella Watson. Data is one of the most valuable commodities today. Aside from being used by companies as basis for all kinds of business strategies, it is also what powers most of today’s transformative technologies, such as artificial intelligence, automation tools, and analytics. With big data’s growing importance, several strategic processes […]

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Comparing Cyber Insurance Policies

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I know this is a little off topic as regards CPA professional liability insurance but cyber attacks are increasing in frequency and size (dollar value).  At least monthly (and some times more) we receive calls from panicked firms because of a cyber attack. Good risk management is the best way to reduce the impact of cyber […]

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How to Make a Professional Liability Insurance Claim in Six Easy Steps

Making a professional liability insurance claim is a straightforward process. Usually, you have to: Contact your insurer or agent. Read your policy. Confer with your agent. Gather records and document all communications with your client. Dissatisfied clients sue.  It’s a fact of business.  Claims can arise for a variety of reasons, some justified, some not.  […]

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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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THE RULES OF LOSS PREVENTION: DEFENSIVE PRACTICES

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In conjunction with CPA Academy on May 10th, 2018 CPAGold™ is holding another webinar.  The course is free and grants 1.5 CPE credits (Business Law) for attendees.  Completion will also count towards the 7.5% loss control credit for CPAGold™ policyholders. The course objectives are: To increase the engagement risk awareness of CPAs To highlight potential […]

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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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