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10 Things for Disaster Recovery Planning After COVID-19

The COVID-19 pandemic forced many CPA firms and businesses to work at home unexpectedly. It emphasized the need for firms to have both a business continuity and disaster recovery (BC/DR) plan as well as a pandemic plan in place.

Date: 7/8/2020

CPA Firm Mergers & Acquisitions in the COVID World

Given the enormous disruptive effect of the COVID-19 crisis, it is surprising that mergers and acquisitions are still very much near the top of accounting firm agendas. In a word, sellers want to sell – and – buyers want to buy.

Date: 6/16/2020

Employment Liability Risk Management After COVID-19

Following the release of updated Equal Employment Opportunity Commission (EEOC) guidelines, there are still some unanswered questions about how employ

Date: 5/27/2020

Agent or Advisor? It Matters for CARES Act Risk Management

The rules surrounding the Payroll Protection Program (PPP) under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) are evolving. It is very clear that accountants will play a critical role in the loan application and forgiveness process.

Date: 4/18/2020

IRS Guidance Helps CPA Firms Comply with Safeguards Rule

Under the authorization of the Gramm-Leach-Bliley Act (1999), the Federal Trade Commission created the “Safeguards Rule.” The Safeguards Rule requires businesses offering financial services or products, including professional tax preparers, to secure and maintain the confidentiality of their customers’ information.

Date: 12/26/2019

Tips for a Reduced Risk Busy Season 2020

As the final countdown for the start of the 2020 busy season begins, it is important to take a moment to reflect on how your firm will make this a reduced risk year. We have nominated several areas we believe deserve special mention and attention during the 2020 busy season.

Date: 12/19/2019

Tail Coverage and Indemnification

We are excited to share that national trade publication, CPA Practice Advisor, recently published two articles submitted by CPA Mutual and NewGate Law on liability risk factors for partners. In the articles we discuss what is tail coverage and indemnification risk management. We offer article excerpts here and provide links to the full articles.

Date: 10/15/2019

Gaining Comfort with Comfort Letters

While we all want to avoid confrontations with our clients and help them to achieve their successes, accountants need to be prudent when producing comfort letters requested third parties. This brief article provides some general reminder guidance to practitioners on the potential pitfalls of third-party verifications and how to avoid them.

Date: 9/30/2019