RISK MANAGEMENT

What Happens to Your Firm If You Die? Seriously.

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By Ed Mendlowitz
Call Me Before You Do Anything: The Art of Accounting

One morning, my wife and I were having breakfast, and she asked me, “What do I do if you and Peter get killed?”

DOWNLOAD: Practice Continuation in Event of a Death or Disability Sample Agreement and Letter of Instruction, Prepared by Ed Mendlowitz

This was a Friday, and Peter Weitsen and I were flying together on Sunday to a conference in Palm Springs. My response to these questions was typical: “Don’t bother me. Nothing will happen!”
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When “What If” Becomes Reality | ARC

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A near-tragedy sparks a critical conversation on business continuity, risk, and responsibility in accounting firms.

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Accounting ARC
With Liz Mason, Byron Patrick, and Donny Shimamoto
Center for Accounting Transformation

Business continuity planning often lives in the realm of “someday.”

Until it doesn’t.

In the latest episode of Accounting ARC, hosts Donny Shimamoto, CPA.CITP, CGMA; Byron Patrick, CPA.CITP; and Liz Mason, CPA, tackle a topic many professionals avoid: what happens when the unexpected actually happens.

The conversation opens not with theory, but with a moment that makes the stakes unmistakably real.

MORE Accounting ARC: Recognize When You Need to Recharge Before You Burn Out | Valuing More Than the Balance Sheet | Accounting’s “Untalked-About” Frontier | Why Happiness is Hard-Fought for High Achievers | The Fastest Way to Lose Talent Is “Dick Leadership” | Post-Holiday Fatigue Isn’t a Failure; It’s a Signal | OCR, Research Bots & Meeting Assistants: What Actually Helps Now | Return Season is the New Stress Test | Small Firms May Have the Biggest Advantage in 2026 | Downgraded: What the DOE Said About Accounting | Savage: Using Your License as a Megaphone |  Baker: Interpreting Pricing Psychology | Don’t Get Fired by Your Own Automation | What Amazon Doesn’t Tell You | Royalties, Residuals, and Reality Checks | ARC-SLC 

Mason, CEO of High Rock Accounting, recounts a recent skiing accident in which she fell roughly 200 yards and collided with a tree at high speed. She survived with a broken leg—but the incident forced a sobering question: What would have happened to her firm if she hadn’t?

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Van Carlson: 831(b) Risk Strategies Gain Ground | The Concierge CPA

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What once was seen as a tax loophole is now becoming a mainstream strategy for business continuity—if done right.

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The Concierge CPA
With Jackie Meyer
For CPA Trendlines

The world of business risk has changed drastically since 1986, and so has the way innovative entrepreneurs protect themselves. In a recent episode of The Concierge CPA, host Dr. Jackie Meyer sits down with Van Carlson, founder and CEO of SRA 831(b) Admin, to demystify one of the most misunderstood tools in modern financial planning: the 831(b) captive.

More Jackie Meyer

At its core, the 831(b) tax code allows business owners to form small insurance companies to self-insure specific risks. But as Carlson explains, “It’s not just about taxes—it’s about protecting your business from the risks no one else will cover.”

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Six Steps to Battle Cybersecurity Risks

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What cost or time investment would you pay to protect your firm and your clients?

By Donny Shimamoto
Cybersecurity for Accountants

When it comes to cybersecurity, one risk aspect to consider is whether or not the steps you’ve taken to protect clients’ PII will stand up in court in the event of litigation related to a data breach or damages to a client because of a cybersecurity issue caused by your firm. During litigation, opposing counsel will often bring in cybersecurity experts to describe cybersecurity best practices—which are often a higher level of controls than just compliance.

MORE: Understanding the Full Cost of a Data Breach | The 7 Categories of of Cybersecurity Solutions Firms Need | Future Firm Growth Requires a Mindshift | Donny Shimamoto Explains How ‘Agile’ Applies to CPA Firms | AI, OCR, NLP & CPAs: Oh My!   |  Accounting Nerds, Unlock Your Super Powers  | Early Adopters Gain an Edge in Audit | Dustin Wheeler: For Serious CAS Success, Hire Tech Teams | CSR for CPAs: The Missing Ingredient | Donny Shimamoto Explains How ‘Agile’ Applies to CPA Firms |  Staff Retention for Remote Workers | Why the Future is in Risk Advisory |  Ready for Non-CPA “CPA” Firms?
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Be sure to consult with both your cybersecurity advisor and legal counsel to determine which controls you may still want to implement even if you qualify for some of the exemptions. Many controls, like the ones identified in the FTC exception, do not cost much to implement and can demonstrate that you still fulfilled your professional obligation to protect clients’ data—reducing your litigation risk.

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Is Audit in Crisis Because of Definitions?

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Auditors, accountants and businesses need to agree on expectations and deliverables in audits.

By Alan Anderson
Transforming Audit for the Future

Instant download:
“The New Manifesto for Accountants.“

Do the banks and investors get useful information from historical audited financials? In their book, “The End of Accounting and the Path Forward for Investors and Managers,” Baruch Lev and Feng Gu researched the relationship between changes in stock prices and the dates that corporate financial reports were released.

MORE: Three Fundamental Questions to Ask in Audit | How Auditors Can Beat AI | The Big Issues in Audit: Frustration, Inconsistency and Technology | Five Ways to Increase Audit Efficiency | Early Adopters Gain an Edge in Audit | Talent Retention: Five Tips for an Audit Adjustment | Six Benefits of an Internal Audit | The Ten Financial Controls That’ll Make You a Hero | Five Cash Reports You Can’t Live Without | When an Audit Is a Great Thing
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In the 1950s and 1960s, roughly 90 percent of the market value of public companies could be directly attributed to the earnings and book value reported in their financials. By 2013, that percentage had dropped to just 50 percent. Personally, I’m surprised it’s even that high. The historical financial statement does not serve the needs of the users of those statements.
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