CPAs shaking hands

CPA Merger and Acquisitions: 7 Pitfalls to Watch

When business climate changes or partners approach retirement age, accounting firms often find themselves in a position where merging makes the most sense. Some firms will benefit from filling talent gaps, and others enjoy expanding their reach into new geographic markets. Whatever the reason for a CPA merger, firms need to tread lightly when acquiring […]

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5 Considerations for Your Accountant E&O Policy

Despite what some accountants think, not all professional liability policies are created equal. The best policies cast a wide net of coverage at the best value with a trusted insurance provider. Then some policies are excellent. How? Policies that stand out provide high levels of service and benefits like risk management and education to invest […]

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Cannabis Industry Clients: What CPAs Should Know About Risk Management

Every year more states are legalizing medicinal and recreational cannabis.  The growing cannabis industry means new client opportunities for CPAs, but with it comes the need to understand the nuances of serving this growing industry.  Cannabis industry clients come with all the same risks as clients in other industries but have an added layer of […]

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File Retention in the Digital Age — What CPAs Should Know

Considering the various types of information CPA firms encounter every day, file storage and retention can become a big challenge. Improper file storage can lead to liability claims and lawsuits. Today, voicemails, emails, instant messages, fax documents, images, and electronic documents are considered reports that must appropriately be stored.  Because we’re in the digital age, […]

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6 Risks that Can Get CPAs in Court and How to Navigate Them

CPAs often find themselves woven into the complex financial affairs of their clients. And when their client’s finances dive for the worse, they usually look to their CPA to help them turn things around.  You can’t avoid every potential lawsuit, but you can take measures to minimize your risks of one. Here’s a look at […]

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Managing Ethical Dilemmas as an Accountant

As a Certified Public Accountant, you are not immune to legal risks. You can find yourself in risky territory more than you would like. Unfortunately, ethical and legal dilemmas present themselves more than you’d imagine. It is something you have to deal with, so having a robust risk management strategy in place is a must. […]

man pulling out a file folder

Top 10 Things That Should Be in an Employee Handbook (And 5 That Shouldn’t)

An employee handbook sets the tone for your business. The manual is one of the first documents a new employee receives in the on-boarding process. More importantly, having an employee handbook can minimize liability and avoid litigation, and help employees understand company policies and expectations.   An effective employee handbook is a policy manual that clarifies […]

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Accountants and Law Enforcement Collaboration Can Help Fight Cyberattacks

As people move more of their lives online, they become increasingly vulnerable to cyberattacks. Accounting firms are no different. In fact, they are at a higher risk of being targeted for a cyberattack because they deal with sensitive financial information.  According to a CNN article, a McAfee report said ransomware incidents increased across all sectors by […]

Coronavirus scams

COVID-19 and Cybersecurity Best Practices

The COVID-19 pandemic is something nobody living today has ever experienced. It’s attacked our health and done extensive damage to our economy and way of life. If that weren’t enough, cybercriminals have added insult to injury by attacking under the COVID-19 guise. Working remotely from home has become the “new normal,” and the trend will […]

Data breach - person typing on computer

Incorporating Data Breach Response Coverage into Your IT Security Strategy

Cybersecurity should be a top concern for accounting firms. There are countless cybersecurity tools and best practices to help mitigate the effects of a data breach and the impact they may have on accounting firms. Accountants, in particular, must prioritize cybersecurity as an on-going process as opposed to a one-time item that, once completed, does […]

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