AICPA Insurance Programs

Risk Alert: USDA Adjusted Gross Income Certification
Recently, Certified Public Accountants have been requested by clients, who are receiving payments directly or indirectly from certain farm and conservation programs, to provide a letter certifying that the client's average Adjusted Gross Income (AGI) of the base years did not exceed the applicable AGI limitations. The CPA letter is an alternative to the required annual AGI certification. However CPAs should consider the liability and compliance issues which may arise from the issuance of such a letter, that are similar to those addressed in the Third Party Verification Letters article. CPAs may minimize or eliminate the risk presented by the issuance of such a lettter by recommending that clients instead provide copies of tax returns filed for the AGI base years, which is one of the alternatives offered in the USDA/FSA sample certification letter. For more information, please refer to the Adjusted Gross Income Update PDF.

Living Green to Conserve Energy and Protect the Environment
From roofing to flooring, “eco-friendly” materials and devices can help you save money when you’re maintaining, repairing or improving your home. Even better, they help save the environment. Join the Green Revolution and consider these simple ways to conserve energy and other natural resources. Learn More

Why You Need Personal Umbrella Insurance
With more than 20 years of experience managing personal liability insurance programs, I have seen firsthand that unfortunate incidents can happen to just about anyone – even CPAs. The problem is, even when you’re very careful in life, you can be named in a personal liability lawsuit. Learn More

Housekeeping
More than 20% of all fire losses and a large number of work injuries result directly or indirectly from poor housekeeping. PDF Download

Accountants Risk Control Top Frequently Asked Questions
Click here to access answers to the top frequently asked questions covering topics such as sample engagement letters, client termination letters, record retention, conflicts of interest, suing for fees, policy coverage, subpoenas and more.

Third Party Verification Letters
Increasingly, CPAs are receiving requests from clients, lenders, loan brokers, health insurance providers, adoption agencies, regulators and various other agencies to confirm client information. In most cases, CPAs are asked to sign a confirmation letter containing specific language, a verification statement or a certification form. Learn More

Client Termination Letters
When it becomes necessary to terminate a client relationship, it is important to memorialize this action in a confirming letter to the client. While you may decide to inform the client of your resignation in a conversation, a letter provides written evidence of when the resignation occurred and instructions to the client regarding needed follow-up on tax, accounting, and other matters about which your firm previously advised the client. Learn more