Click Your Malpractice Insurance Policy May Not Cover You for Fraudulent Wire Transfers
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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Rickard Jorgensen - Posted in being sued, Claims, Coverage, coverage limitations, Cyber Liability, insurance, lawsuit, Phishing scams, policy coverage, professional liability claims, social engineering, Uncategorized
May, 02, 2018
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The 10 Worst Corporate Accounting Scandals of All Time
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 […]
- Posted by Rickard Jorgensen
- Posted in Bad policies, being sued, checklist, coverage limitations, definition of professional services, due diligence, Fraud, lawsuit, professional liability claims, risk management, Uncategorized
- Apr, 08, 2018
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Who handles my claim at QBE?
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 […]
- Posted by Rickard Jorgensen
- Posted in Accountants' professional liability insurance, Accountants' risk management, Claims, claims notification, insurance, lawsuit, Uncategorized
- Mar, 09, 2018
- No Comments.
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 […]
- Posted by Rickard Jorgensen
- Posted in Accountants' professional liability insurance, Bad policies, Claims, coverage limitations, criminal behaviour, due diligence, Fraud, insurance, lawsuit, policy coverage, policy wording, Uncategorized
- Mar, 09, 2018
- No Comments.
Is a Client’s Criminal Prosecution Foreseeable?
By Seth L. Laver, Michael P. Luongo and Sarah J. Delaney of Goldberg Segalla Guest bloggers from the law firm Goldberg Segalla posted the following which we thought is timely and pertinent: Professionals assume a duty of care to their clients. Accordingly, professionals may be held liable for damages to clients that are proximately caused by […]
- Posted by Rickard Jorgensen
- Posted in Accountants' professional liability insurance, Accountants' risk management, Coverage, criminal behaviour, lawsuit, Seth l. Laver, Uncategorized
- Mar, 09, 2018
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How Long Is Too Long to Wait for Malpractice Actions?
By Seth L. Laver, Andrew P. Carroll and Sean P. Beiter of Goldberg Segalla Guest bloggers from the law firm Goldberg Segalla posted the following which we thought is timely and pertinent: One of the most common problems facing a would-be plaintiff considering a malpractice case is when to file suit. Similarly, those that defend professionals […]
- Posted by Rickard Jorgensen
- Posted in Accountants' professional liability insurance, Accountants' risk management, being sued, Claims, claims notification, coverage limitations, lawsuit, professional liability claims, Uncategorized
- Feb, 05, 2018
- No Comments.
When to disengage
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 […]
- Posted by Rickard Jorgensen
- Posted in being sued, Client relations, Disengagement, insurance, lawsuit, professional liability claims, risk management, Uncategorized
- Feb, 05, 2018
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W2 Phishing scams
What has become a common feature of the post-Holiday season is the W2 phishing scam. This is a sophisticated social engineering attack to dupe clients’ payroll and HR departments into providing W-2 data on employees, to enable the crooks can file fraudulent tax returns. For several years, these criminals have been the cause of identity […]
- Posted by Rickard Jorgensen
- Posted in Accountants' professional liability insurance, criminal behaviour, Cyber Liability, lawsuit, Phishing scams, risk management, security, social engineering, Uncategorized
- Jan, 04, 2018
- No Comments.
Example IRS Circular 230 Email Disclaimer
A client recently requested an appropriate disclaimer for email communications. Ralph Picardi, risk management consultant to CPAGold™, suggested the following clause. This is a repeat of our earlier posting here but worth restating. Example IRS Circular 230 Email Disclaimer (Following 2014 Revisions to Treasury Regulations) This example email disclaimer is intended solely for general educational […]
- Posted by Rickard Jorgensen
- Posted in Accountants' professional liability insurance, email risk management, professional liability claims, Ralph G. Picardi, risk management, Tax Services, Uncategorized
- Jan, 04, 2018
- No Comments.
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’ […]
- Posted by Rickard Jorgensen
- Posted in Accountants' professional liability insurance, Accountants' risk management, Bad policies, checklist, Coverage, coverage limitations, definition of professional services, due diligence, insurance, lawsuit, policy coverage, policy wording, professional liability claims
- Jan, 04, 2018
- No Comments.
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