- About Us
- Continuing Education
- Future CPAs
- Government Affairs
- Professional Resources
- Society Pubs.
The Public Company Accounting Oversight Board (PCAOB) has formally re-proposed a rule that, if implemented, would require that audit reports to include the name of the engagement partner who led the audit for the most recent period and the names, locations and extent of participation ( as a percentage of total audit hours) of other public accounting firms that took part in the audit, and the locations and extent of participation of other persons, whether an individual or a company, not
A federal judge on Tuesday morning declared that Detroit is under no obligation to fulfill its pension obligations to city workers in full as he cleared the way for the government to formally enter Chapter 9 bankruptcy, according to the New York Times. The judge, Steven Rhodes, said that pensions do not have special protections when it comes to municipal bankruptcy, even though the state constitution of Michigan explicitly extends such protections.
The Public Company Accounting Oversight Board (PCAOB) announced today 17 new and reappointed members to its 42-member Standing Advisory Group, which advises the PCAOB on the development of auditing and related professional practice standards and includes experts in the fields of accounting, auditing, financial reporting, corporate finance and corporate governance, as well as experts in investing in public companies. Within this list are 5 NYSSCPA members:
New York City Comptroller-Elect Scott M. Stringer has posted a "help wanted" ad for a deputy comptroller to oversee the city's Bureau of Accountancy. He's looking for someone to "ensure a rigorous and comprehensive citywide system of accounting that enhances City government’s budgetary integrity, accountability and operational performance." A CPA is preferred.
The IRS needs to strengthen systems development controls for the Premium Tax Credit (PTC) Project, according to the Treasury Inspector General for Tax Administration (TIGTA). The announcement was made in a TIGTA press release, which also said that the TIGTA was issuing seven recommendations to the IRS. It called on the Service to develop an action plan for resolving security test issues and asked for updates to the Internal Revenue Manual in order to battle potential fraud risks.
Ever have trouble explaining how reconciliation between GAAP income and taxable income works? Sure you have. An accounting professor has made a YouTube video explaining the basic concept of what it is the process is meant to do using two salads: Greek and Mediterranean. Similar, but still different, distinct dishes. Using these two salads, the professor provides a way to explain, conceptually, what it is accountants talk about when they talk about reconciliation.
The IRS has released final rules on the implementation of the .9 percent Medicare tax on high earners, a part of the Affordable Care Act that has been in effect since the beginning of this year. Under the rule, individuals making $200,000 or more; married couples making $250,000 or more; or married persons who are filing individually making $125,000 or more will all be subject to the tax, which is intended to fund Medicare.
The NYSSCPA invites its members to visit its new online store for exclusive NYSSCPA-branded items. Featured NYSSCPA products include a plush fleece throw. Cozy with a luxurious feel, you'll keep warm this winter season. Order by Dec. 18 and three-day shipping is available--just in time for holiday gift-giving. Order now while supplies last!
Other products include coffee mugs and an umbrella, all emblazoned with the NYSSCPA logo.