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Prevent fake emails, social engineering and fraudulent transfer business scams

Imagine receiving an email from a Nigerian prince, promising to reward you with millions in exchange for your help transferring his wealth out of the country. An obviously fraudulent request like this would certainly trigger some red flags that it is a business scam. But what if the email came from a trusted vendor, business […]

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Work better with your bankruptcy clients

The ongoing pandemic has the U.S. bankruptcy system poised to give a fresh start to individuals and businesses impacted by debt. Accountants advising clients through bankruptcy may need guidance to steer their charges from choppy waters to more stable economic shores. This blog offers advice for CPAs on finding better footing with clients, colleagues, and […]

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Best Practices to Protect Your Accounting Firm Against Ransomware

Ransomware is a worldwide problem, impacting everyone from oil pipeline operators to city governments to hospital systems. In 2020, ransomware payouts quadrupled over the previous year – from $85 million to $350 million – a likely undercount as many companies don’t reveal when they’ve been hacked. Considering modern accounting firms operate in an “always-on” digital […]

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5 Email Security Best Practices for Accounting Firms

Accounting firms make lucrative targets for sneaky cyberhackers. Firms often house sensitive personal and financial client information. To best protect sensitive data, it is important for accounting firms to understand which risks they might be vulnerable to and to take steps to protect themselves.  According to the IRS, around 91% of all cyberattacks start with […]

McGowanPro Employee Retention Credit

How can the Employee Retention Credit benefit your organization?

The COVID-19 pandemic has resulted in staff disruptions for organizations across all industries. This crisis is being answered by legislation providing businesses a refundable credit they can apply against qualified wages and certain health insurance costs. The Employee Retention Credit (ERC) – introduced in 2020 under the Coronavirus Aid, Relief, and Economic Security (CARES) Act […]

How Remote Work is Affecting Residency Audits

More people than ever are working remotely. It’s creating headaches for CPAs, accountants, and professional services firms in the form of residency audits. Residency audit triggers include, but are not limited to: Moving to low or no-income-tax states. Purchasing and traveling between multiple permanent abodes. Moving shortly before selling a business. Moving shortly before selling […]

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2021 RIMS Conference Cyber Takeaways

RIMS LIVE 2021 recently took place; a conference considered the most comprehensive risk management event globally and a must-attend event for anyone providing services to risk professionals in 2021. It featured over 100 hours of risk management knowledge and insights surrounding everything cyber. The conference brought in dozens of industry expert speakers and held dozens of events […]

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Remote Work in 2021: Preparing for the Risks

One of the most significant outcomes of COVID-19 was the acceleration of the digital business shift. All indications were that remote work would be the future, but nobody planned on the transitioning happening so fast.  The speed to transition was impressive, but it left some open doors for criminals looking for soft spots like anything rushed. With […]

Engagement Letters

PHOTO PHOTO   SSARS 21 Engagement LetterDownload the sample SSARS 21 Engagement Letter wording   Sample Audit LetterDownload the sample Audit engagement letter for your practice. PHOTO PHOTO Sample Compilation Letter Sample Review Letter PHOTO PHOTO Sample Tax LetterDownload the sample Tax engagement letter with both corporate and personal samples Combined Services Letter Download the […]

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Accounting Outsourcing Risks: What You Need to Know

CPAs, accountants, and professional service firms are known to outsource work at times, especially during tax season. It’s common practice and often necessary. When done right, outsourcing work can save a lot of time and money. If done wrong, it can be extremely costly and could even ruin a company’s reputation. The biggest risk of […]

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