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CPAs to the Rescue

 As Hurricane Irene spun her way up the East Coast, the spotlight brightened on disaster planning.

And on CPAs.

CPAs have long been leaders on emergency preparation. Members of the AICPA’s Personal Financial Planning section a few years ago partnered with the American Red Cross and the National Endowment for Financial Education to produce guides to help consumers prepare for and recover from disasters. You can see the expertise included in these guides and the insight of our members on display throughout the media when natural disasters occur.

In the aftermath of Hurricane Irene, for instance, CPA financial planners Michael Eisenberg and Mitchell Freedman were quoted in this Wall Street Journal story: Insurance, Records Are Key In Storm's Wake.  Eric Rigby, a CPA financial planner in New Orleans, was interviewed live on the Weather Channel about disaster preparation.

The PCPS Section today is hosting a webinar, “Disaster Losses: From Start to Finish,” to empower AICPA members with information to help clients during a disaster. Louisiana practitioner Jerry Schreiber, who has presented numerous seminars on disaster loss, will cover topics including:

  • The emotional toll on clients
  • Accumulating the information to document a loss
  • Reporting the loss on the tax return.

The free webinar will take place from 2:00 p.m. to 3:30 p.m. EDT today. Be sure to register and reserve your space.

Be sure to check out other disaster planning and recovery resources available from the AICPA, including the guides and checklists from 360 Degrees of Financial Literacy. It is powerful information that you can use with clients or in your communities to demonstrate the value that CPAs deliver every day.

Andrea Millar, CPA/PFS, Sr Technical Manager - PFP, American Institute of CPAs. Andrea leads the AICPA Personal Financial Division. Her responsibilities include working with the PFP Executive and PFS Credential committees to drive the advocacy, education and other initiatives on behalf of the 7,500 AICPA members who specialize in providing estate, retirement, tax, investment and insurance advice to their individual clients.

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