Click Here for a free estimate!

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

Risk Management

 

Hotline

Call: (866) 668 7475.The pre-claims hotline is administered by Ralph G. Picardi, Esq.Ralph assists members with a variety of risk avoidance situations.  Members most frequently ask how long to retain work papers after the engagement is completed; when, if ever, to sue a client to collect a delinquent fee; how to terminate a difficult engagement and minimize the risk of a claim; how to improve engagement letters; how to comply with new legislation and rulemaking; how to avoid conflicts of interest in client representations; and, how to respond to subpoenas and other requests by third parties for work papers and client documents.Ralph is also a resource to the CPAGoldTM program and its partner-producers on a wide range of issues bearing on accountant liability and risk management, and represents member firms in responding to subpoenas and claims.Ralph DOES NOT administer claims or accept notification on behalf of XL Insurance.Call Ralph if you have a hotline matter to discuss.  The call is confidential and free of charge.Go to here for more information

 

CPE Course

We provide a 12 hours credit Continuing Professional Education course to members. This is QAS approved by NASBA. Go to www.cpagoldcpe.com for details.

 

Seminars

Individual risk management seminars can be arranged with Ralph Picardi, Esq., for larger firms or groups.  Call: (866) 668 7475.Seminars are also offered via Webinar.  A recording of the most recent seminar is presented May 2018 by Ron Herzog, Esq., is available here.  Polling questions are available here

 

Coverage checklist

Follow the links below for two valuable coverage evaluation tools:  a whitepaper: “Understanding Your Professional Liability Insurance Coverage” – go here.  A checklist to help CPAs review the quality of coverage – go here.  These are MS Word documents and take a few seconds to load.

 

Engagement letters

Go to engagement letters for details. This is a password protected library – ask your agent for assistance.In regard to the use of personal information (e.g. medical records) of clients and client employees, you may need a confidentiality agreement.  A good example is available here.

 

Client Evaluation

Go here for a copy this white paper.  Go to here for a copy of the Questionnaire. The Questionnaire is an MS Word document and might take a minute to load. The white paper requires completion of a short input form and will be sent directly to your in-box.

 

Mergers & Acquisitions

Go here for a copy the aide memoire (checklist) to assist you to evaluate potential M&A candidates. This is an MS Word document and might take a minute to load.Go here for a blog posting about due diligence in the mergers and acquisitions.

 

Most businesses collect or hold personally identifying information (PII) about customers, employees, or business partners. If this PII is lost or stolen, this places not just these persons at risk of identity theft but the PII custodian and controller at risk of civil liability and criminal sanctions, too.  Have you considered these questions?

  • Where do I store confidential information?
  • What steps can I take to improve data protection?
  • Does my firm have the external resources to protect itself from Cyber Liability?
  • Do we have written guidelines and procedures for lost files, media storage devices, and other electronic equipment?

We break down these questions and more here: Cyber Liability Discussion Paper.

We have written a paper about comparing cyber insurance policies.  It is available here.

We created a tool to compare cyber policies.  Go here for the cyber policy review/checklist

 

Data breaches can be innocent or sinister, but either way, the consequences for an organization sustaining a breach can be costly if not catastrophic. The impacts can be qualified into two basic categories: insurable and non-insurable. This paper considers the impacts of both category types and controls to put in place to reduce loss exposure.  Find the paper here: Cyber Loss: Impacts and Controls

 

Please contact your agent or Rickard Jorgensen at (201) 345 2440.