EP. 20: DFPI Regulatory Audits: What Escrow Companies Can Expect

EP. 20: DFPI Regulatory Audits: What Escrow Companies Can Expect

In this episode of Debits and Credits, Michael C. Haas, CPA takes an in-depth look at DFPI Regulatory Audits and what licensed California escrow companies should expect during a regulatory examination. Michael discusses the role of the California Department of Financial Protection and Innovation (DFPI), audit procedures, trust account reconciliation requirements under CCR § 1732.2, and financial responsibility standards under California Financial Code § 17210. He also explains how proper recordkeeping, internal controls, and compliance with state regulations help escrow companies successfully navigate audits and protect client funds. Whether you're an escrow officer, manager, owner, or industry professional, this episode provides valuable insight into maintaining compliance and preparing for a DFPI examination. #DFPI #RegulatoryAudits #Escrow #CaliforniaEscrow #Compliance #TrustAccounting  #EscrowIndustry #CPA #InternalControls #DebitsAndCreditsPodcast

Ep. 19 - Notary Best Practices From An Escrow Perspective

In this episode of Debits and Credits, Michael C. Haas, CPA discusses Notary Best Practices from an Escrow Perspective. He covers key considerations when selecting a notary or signing service, the importance of working with trusted professionals, common fee structures, liability concerns, and the benefits of maintaining an in-house notary program.  Michael also explains how proper notary procedures help protect clients, reduce risk, and support the integrity of escrow and real estate transactions. #haasanddawe #notary #scrow #certifiedpublicaccountant

Ep. 18 - Unclaimed Property Laws: Understanding Escheatment, and Reporting Requirements For Dormant Funds

In Episode 18 of Debits and Credits, Michael C. Haas, CPA discusses Unclaimed Property Laws and the responsibilities businesses have when handling dormant or abandoned funds. Michael explains the process of escheatment, the purpose of notice reports and remit reports, and how businesses must comply with state reporting requirements for inactive accounts and unclaimed property. This episode provides a practical overview of compliance obligations and why proper handling of unclaimed funds is important for businesses and escrow professionals alike. #UnclaimedProperty #Escheatment #NoticeReport #Remitreport #Escrow  #FinancialReporting #StateRegulations #DebitsAndCreditsPodca

Ep 17 - Pass-Through Entity Tax (PTET) Explained: A Closer Look At Impacting Pass-Through Businesses and Their Owners

In this episode of Debits and Credits, Michael C. Haas, CPA breaks down the Pass-Through Entity Tax (PTET) and how this state tax election may provide federal tax benefits for owners of pass-through businesses. Michael explains how PTET works, who may qualify, and why it has become an important tax planning strategy for partnerships and S corporations. #PTET #PassThroughEntityTax #TaxPlanning #BusinessTaxes #CPA #SALTCap #Accounting #DebitsAndCreditsPodcast

Ep. 16 - Insurance every escrow company should consider: Understanding policies that protect escrow operations and client funds.

In this episode of Debits and Credits, Michael C. Haas, CPA discusses the essential insurance coverage escrow companies should consider to help protect their business operations, client funds, and financial security. Topics include surety bonds, Errors & Omissions (E&O) insurance, cyber insurance, workers’ compensation coverage, and protections offered through the Escrow Agents’ Fidelity Corporation (EAFC). Michael explains how these policies and safeguards support compliance, risk management, and fraud prevention in today’s evolving escrow industry. #Escrow #Insurance #CyberInsurance #EOInsurance #SuretyBond #RiskManagement #Compliance #EAFC #TrustAccounting #DebitsAndCreditsPodcast