With October being Cyber Security Awareness Month, the preparedness and response strategies for such attacks are a hot topic. Many initiatives are underway to educate and raise awareness, including a survey from Advisen and The Hartford which shed light on …Read More
Responding to a Subpoena: Seven Helpful Steps for CPA Firms
CPA firms have access to numerous types of client records, and requests for those records can come from multiple sources. What should a CPA firm do when a request for access to such records comes in the form of a …Read More
CEO Email Scam Costs Companies Billions
A newer cyber scam is on the rise in 2016, netting $2.3 billion for criminals over the past three years. The CEO Email Scam—also known as Business Email Compromise (BEC)—tricks targeted employees into wiring money when they receive a bogus …Read More
Professional Standards: Go Above and Beyond to Avoid Claims
Jury standards, created by juries when assessing claims, are made with the benefit of hindsight. CPAs don’t have this same benefit when it comes to beating fraud. While uncovering fraud is part of a CPAs professional standards, it can be …Read More
Carrier Wins Key Court Decision on Cyber Policy
In May 2016 a US District Court ruled a cyber insurance policy did not cover liabilities arising out of a data breach at P.F. Chang’s. The breach involved 33 P.F. Chang’s restaurant locations and compromised the data of about 60,000 …Read More
The DOL’s proposed change to IRA fiduciary regulations could weigh the heaviest on small IRA account holders.
The Department of Labor has proposed changing a law that dates back to 1975. In essence, the new regulation would expand the meaning of the term “fiduciary” to include those who handle IRAs. The 1975 definition was outlined in the …Read More
Our own Vice President, Tom Schrandt, weighs in on The Right Protection.
When it comes to fiduciary insurance and data protection, Tom is an expert. So much so, he was selected to contribute to an article spanning those topics and more. Covering specifics such as how it’s best to coordinate cyber liability …Read More
Cyber security, The IRS and how you can protect yourself.
Last May the IRS suffered a data security breach with over 300,000 U.S. taxpayers being victims of data hackers. Some of them were most likely your clients. In a statement, the tax collection agency said they “believed some of the …Read More
Alternative Dispute Resolution
Many types of business insurance—particularly professional liability insurance policies—are designed to provide financial and legal assistance in the event of a lawsuit. However, there are other methods of resolving disputes that stop short of lawsuits, and many insurers offer incentives …Read More
What Accountants Need to Know About the IRS Data Breach
The Internal Revenue Service recently announced that more than 100,000 taxpayer records had been stolen via their website. These illicit activities involved the agency’s “get transcript” feature, which was designed to help taxpayers access their own tax records online for …Read More