Employment Practices Liability Insurance (EPLI) is a crucial safeguard for businesses facing workplace-related lawsuits. Claims involving discrimination, harassment, wrongful termination, and other employment disputes can lead to costly legal battles. EPLI helps mitigate financial risks and protect a company’s reputation, making it a key component of risk management strategies. The importance of EPLI for businesses […]

Cyber threats are no longer a distant concern for accounting firms—they are a pressing and immediate challenge. The increasing sophistication of cybercriminals and firms’ reliance on digital tools have created a perfect storm of vulnerability. In this episode of Risky Records, I sat down with Rob Ferrini, Cyber Liability Program Manager for McGowan PRO, to […]

What is E&O insurance? Errors and Omissions (E&O) insurance is a type of coverage designed for professionals that offers financial protection from litigation claims stemming from various professional mistakes. While technically, E&O is a type of professional liability, there are slight differences between the two policies. Professional liability covers mistakes made by service-oriented fields, whereas […]

In Episode 16 of Risky Records, we sat down with Steve Tully and Natalia Greene, two attorneys experienced in defending legal claims against CPAs, to discuss what to do if a lawsuit is brought against your CPA firm. Because of the financial nature of the work, CPAs (auditors especially) are often targets of lawsuits. It […]

With multifactor authentication (MFA) emerging as a strong defense against cyberattacks, threat actors have had to devise new solutions to circumvent this defense. MFA tools require users to verify their identity through multiple methods, adding an additional level of security to vulnerable organizations. While this approach significantly bolsters defenses, it is not without its vulnerabilities. […]

In this episode of Risky Records, I spoke with Konrad Martin, CEO of Tech Advisors and former 25-year CPA veteran, about compliance, emerging cyber risks, and what your accounting firm can do to stay ahead of threat actors. The Gramm-Leach-Bliley Act (GLBA) originally applied primarily to the financial services industry, but recent Federal Trade Commission […]

As CPAs navigate an evolving landscape, understanding CPA trends will be crucial to staying competitive and providing value to clients. Read on for 2025’s top CPA trends, highlighting the impact of the expiring Tax Cuts and Jobs Act (TCJA), the dangers and opportunities of technological advancement, and increasing business costs. The expiration of the Tax […]

AI continues to dominate the cybersecurity outlook for 2025. AI is a double-edged sword, generating new risks and methods of countering those risks. Threat actors utilize AI to develop more sophisticated phishing attacks, deepfakes, adaptive attacks, and adversarial AI attempts. Palo Alto Networks, a leading technology vendor, predicts that by 2026, almost all cyberattacks will […]

Workplace discrimination continues today as the corporate approach to diversity, equity, and inclusion is in flux. In recent years, American businesses have ramped up their Diversity, Equity, and Inclusion (DEI) initiatives to combat racism in the workplace. Organizations appointed DEI executives, changed their hiring practices, and introduced new training programs aimed at: The U.S. Equal […]

The Uniform Accountancy Act (UAA) sets the foundation for CPA licensure requirements across the United States. These uniform standards provide consistency while allowing CPAs to practice in any state with just one state license. Recently, the American Institute of CPAs (AICPA) and the National Association of State Boards of Accountancy (NASBA) released a proposed update […]