March 2007

CalCPA News
A&A Answerline
Dear Answerline,
I recently received a request from a loan broker asking me to state that a loan to a client would not have a negative impact on my client’s business. I prepare a compiled financial statement and corporate tax return for this client and am certainly not in a position to respond to such a request. What’s going on here? Are they just looking to shift the responsibility for evaluating how creditworthy their loan applicant is? I guess if I do their job for them, I better increase my professional liability coverage.
— Not-Such-Deep-Pockets

Dear NSDP,
You are not alone. CPAs are getting more and more of these type requests from all kinds of lenders and brokers. I recently talked to the folks at CAMICO about this subject. It seems that they have received enough calls regarding these requested letters that they have prepared a report and sample letters on the topic. They have been gracious enough to allow me to share their report and samples with my readers. They can be located at www.calcpa.org/members/committees/apas/answerline.html and are reprinted there with permission of CAMICO Mutual Insurance Company.
  The A&A Answerline is a free member service that can be accessed at (800) 922–5752, Ext. 2355.
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Education Foundation News
Business and Industry Conference
As a financial professional in industry, you won’t want to miss this conference that covers many facets of business, including emerging trends in financial management, changes in compliance and reporting, human resource issues, retirement benefits management and employee recruiting and retention.

Date: Friday, March 23
Time: 8:30 a.m.–5 p.m.
Location: Hotel Nikko; San Francisco
CPE: 8 hours
RSVP:Online
Note: The conference also will be held Thursday, March 22 in Long Beach.
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Resources
San Joaquin Chapter Leadership

Contact Chapter Coordinator Karen Howard

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