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Embezzlement 101

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By Rickard Jorgensen, FCII, ARM, ACIArb This month we thought you might find an article about employee theft from the perspective of the crime insurer, Hiscox Insurance. If you were to ask a group of business owners about the biggest risks they face, you’d probably get a lot of different answers. Some might say external […]

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The future of privacy starts in California

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By Rickard Jorgensen, FCII, ARM, ACIArb You may recall the recent blog postings in connection with the CCPA in California: http://cpagold.com/2018/11/consent-armageddon-is-coming/ http://cpagold.com/2018/11/are-new-statutory-claims-covered-by-your-cyber-policy/ http://cpagold.com/2018/11/california-privacy-laws-gdpr-ii/ The California Consumer Privacy Act of 2018 ["CCPA"] is effective Jan. 1, 2019  will give Golden State residents the right to find out what a company knows about them and get it […]

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Up in Smoke III – The SAFE Banking Act is Major Step Towards Access to Banks and Credit Unions (and Service Providers) for Legalized Cannabis Industry

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By Rickard Jorgensen, FCII, ARM, ACIArb This past month the majority of Democratic and ninety-one Republican members of the House of Representatives passed the landmark Secure and Fair Enforcement Banking Act of 2019, commonly known as the SAFE Banking Act. This law has been in development for six years and is intended to reduce the […]

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Professional Liability for CPAs – Understanding your coverage – Part V – Conditions – the fine print

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  By Rickard Jorgensen, FCII, ARM, ACIArb The Conditions section is usually the last section of of your professional liability policy.  This is the part of the policy which deals with such things as claims notification, cancellation, Extended Reporting Period rights, Other insurance and disputes with the insurer. Careful attention should be paid to this section […]

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Scammers deepfake CEO’s voice to talk underling into $243,000 transfer

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Based on an article by Lisa Vass of Nake Security by Sophos. Any CPA firm mind should be painfully aware of how much money they could loose via skillful Business Email Compromise (BEC) scams, where fraudsters convincingly forge emails, invoices, contracts and letters to socially engineer the people who hold the purse strings.  There have been […]

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Professional Liability for CPAs – Understanding your coverage – Part IV – Exclusions

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  AKA what’s not covered…. By Rickard Jorgensen, FCII, ARM, ACIArb Whereas the coverage grant provides affirmative coverage, the exclusions take coverage away. If an activity is listed in the exclusions section of the policy, you do not have any coverage, no matter what the other sections of the policy state. It is the absolute […]

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Minimizing the risk of malpractice claims from lateral hires

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By Rickard Jorgensen, FCII, ARM, ACIArb Many accounting firms have aggressive plans to build their practices and expand the range of services available to clients.   Growth strategy is often comprises of several elements: Organic growth is the simplest and arises from marketing, business and employee development and cross selling services to clients. Mergers and acquisition […]

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Professional Liability for CPAs – Understanding your coverage – Part III – the coverage grant

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By Rickard Jorgensen, FCII, ARM, ACIArb Each insurer’s policy is arranged differently, and the items listed above can be located in different places and with different headings in each policy. However, by reading the explanations below, you should be able to locate them no matter where they are found within a policy. 1.  Coverage Agreements […]

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Equifax breach settlement

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by Rickard Jorgensen, FCII, ARM, ACIArb. You may recall that in September 2017 we reported on the data breach suffered by the national credit reporting agency.  Go here for the article. According to Reuters — Credit reporting company Equifax Inc. will pay up to $700 million to settle U.S. federal and state probes into a […]

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The Most Expensive Insurance Policy is Always the Cheapest One.

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This following is an article by guest blogger, Aaaron Lipson of FounderPro about the perils of buying coverage based upon price considerations alone.  In the past we have spent much time blogging about quality of coverage.  Even our competitors often focus upon coverage over costs (even when we can point to coverage flaws in their […]

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