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Tag Archives: CPA claims

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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Who handles my claim at QBE?

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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 […]

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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 […]

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How Long Is Too Long to Wait for Malpractice Actions?

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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 […]

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When to disengage

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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 […]

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How comprehensive is your coverage? Why a limitation in your professional liability policy for negligence only is a very bad idea.

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by Rickard Jorgensen, FCII, ACIArb., ARM Recently one of our competitors relaunched and rebranded its accountants’ professional liability program. The new program was promoted as broader coverage and an enhancement upon the previously terminated program.  There were various “bells and whistles” added to the program but one important feature was conspicuously overlooked and omitted from […]

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An overview of the client screening process

By Rickard Jorgensen, FCII, ACIArb, ARM Extracted from Evaluating Clients – Engagement risk screening for CPA firms. There are solid reasons for screening new clients.  Many involve not getting paid, exposure to lawsuits or even the stress related to difficult individuals.  Effective client screening can avoid these problems. Implementing a formal screening process is the […]

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The Growing Insider Threat

By LIFARS Reposted from here A security threat originating from within the organization which is targeted or attacked is an insider threat. Insider attacks are rapidly increasing and becoming more prevalent in organizations. In the past year, believe insider attacks have become more frequent. Any present or former employee who at one point had access […]

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Road Map of a Malpractice Lawsuit

By Jason Subbie & Ralph Picardi, Esq. Litigation is a punishing marathon. The process exacts an exhausting toll on the parties.  A complex dispute can take several years from the date of the initial client dispute to the final verdict. And then, just when you think the dust has settled, there are almost always appeals. […]

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Fee Collection – a malpractice risk

Counter suits arising from fee disputes are one of the most common sources of malpractice claims against CPAs. In fact, such suits are a great risk for many professionals. Any steps taken to avoid a collection becoming a malpractice claim are essential. One of the key areas of attention should be a documented Collection Procedure.  […]

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