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Example Disengagement letters

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In a recent posting on the CPAFMA website there was a request for a specific template for client disengagement letter.  You may recall we blogged about the topic of client disengagement in 2018 (Go here). The following are two suggested templates for disengagement letters: a relative simple version aimed at individual clients from the AICPA […]

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Security Policy for CPA firms – a template

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We have received several enquiries from members of the CPAGold™ program for help with a suggested wording for a Cyber Security Policy as required by the IRS rules. As you will be aware, there is a lot of information available about this topic.  One of the best white papers is Small Business Information Security: The […]

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UP IN SMOKE IV – A Bill to end marijuana prohibition in the U.S. passes key committee

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Late last month a congressional committee approved a piece of legislation to end marijuana prohibition in the United States. According to a press release, the Marijuana Opportunity, Reinvestment, and Expungement Act, better known as The MORE Act (HR 3884), would remove marijuana from the Controlled Substances Act and impose a minor excise tax on the […]

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Outsourcing – malpractice risk management perils concerning subcontractor’s indemnification provisions.

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by Rickard Jorgensen, FCII, ARM, ACIArb. We have received several inquiries from CPAGold™ members about QBE’s coverage position when it comes to the use of sub-contractors for the provision of professional services to clients. The CPAGold™ policy is comprehensive and contains a broad definition of who is covered via DEFINITIONS 8,28 wherein its states: 8.28 […]

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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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