A silver lining to superstorm Sandy for forensic CPAs

BVWireIssue #122-3
November 28, 2012

In the wake of an estimated $50 billion in economic losses caused by superstorm Sandy, many businesses and individuals are still struggling. Many companies will be relying on their business-interruption insurance policies to recover some or all of their losses—and “would be wise to bring in a forensic accountant to help with documentation,” says the most recent Forensic and Valuation Reporter (AICPA FVS).Other companies are using forensic accountants to determine potential exposure before an event.” To highlight the opportunities during hard times, the FVS section is sponsoring a free webinar on December 6: “Disaster Recovery: The Role of the CPA in Insurance and FEMA Claims.”

NY CPAs get a reprieve. To assist local professionals hit hard by Sandy, the New York Office of Professions (NYOP) has just announced that all those with November 2012 and December 2012 license renewal deadlines will now have until Feb. 1, 2013, to meet their requirements. New York licensed professionals should consult the official announcement, posted on the NYOP website, for further details and instructions on how to replace lost or damaged documents.

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