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Signed engagement letters help CPA firms improve communication with clients and protect the firm from litigation as “the first line of defense.” Use the following tips to help you write more effective engagement letters. Engagement letters should…• State the purpose of the engagement.• Define the scope and limits of the engagement.• Specify known negative conditions … Read more
Are you taking the right steps to manage (and document) client expectations? Effective communication is a key factor in any CPA-client relationship, and when you work to stay in control of managing client expectations, you help to safeguard your firm. To that end, good documentation is critical to successfully managing client expectations. Jurors (members of … Read more
Topic: Employee Discrimination / Termination In September 2021, Lindsay Johnson began working as an accountant for Brown Jones & Williams CPA firm. A year later, when her mom was diagnosed with cancer, she informed the company’s Human Resources (HR) director of the diagnosis and said that she would need to take a leave of absence … Read more
The recently enacted One Big Beautiful Bill Act (“OBBB Act”) ushers in some of the most significant tax law changes since the Tax Cuts and Jobs Act. While many provisions are designed to simplify or stimulate economic activity, they also create traps for the unwary. CPAs need to remain alert to compliance challenges, client misperceptions, … Read more
This FAQ document is not intended to be used or relied upon as a substitute for a firm’s compliance with applicable professional standards nor is it intended to be a substitute for seeking legal advice. CAMICO presents this FAQ guide for reference purposes only to highlight common policyholder inquiries regarding the risk management implications of … Read more
