June 2009
Albany Daily Covers Reform Law
The Albany Times Union took a break from coverage of legislative shenanigans to write about the accounting reform law in an article that ran in Sunday’s paper. Lou Grumet and Albany-based CPAs Marilyn Pendergast and Kevin McCoy were quoted.
'Extremely Evil' Bernie Sentenced to 150 Years
Now it's official: Bernie Madoff should be spending the rest of his life in jail.
He was sentenced to 150 years by federal judge Denny Chin for the $60 billion Ponzi scheme that wiped out the life savings of individuals, and destroyed businesses and a handful of charities.
Michael Jackson's 'Tangled Web of Financial Issues'
An article in Rolling Stone describes Michael Jackson's posthumous money matters as a "tangled web of financial issues that may reverberate for months."
Proposal Would Kill Tax Prep Registration Law
Earlier this year, the state tax department's deputy commissioner of enforcement, William Comiskey, told a group of CPA tax return preparers at a FAE tax conference that legislation would soon be introduced that would require them, and every other tax return preparer who filed tax forms in New York state, to register with the state and pay a fee.
AIG's Broker-Dealer Arm Still Attached
American International Group was planning to sell its broker-dealer business, AIG Advisor Group, but some speed bumps threaten to derail the efforts.
More Drama in Albany
Adopted: Emergency Regs for Accounting Reform Law
The New York State Board of Regents this morning voted to approve emergency regulations that will define the accountancy reform law that goes into effect July 26.
The following are summaries of the adopted regulations. Much more detail will be provided in a special issue of The Trusted Professional coming out soon.
More information can also be found on the NYSSCPA's Web site. You can ask a question about the new law, get general information, read the adopted regulations and even watch a webcast.
Senate Dems Lock Themselves in Chamber
Just when you thought the New York State Senate had finished shocking you, the hot mess that is Albany politics took a surprising turn today: Democrats reportedly filed into the Senate chamber this afternoon and took control of the rostrum for the first time since June 8, when a historic Republican-backed coup seemingly broke their majority.
The fight for the gavel appears to be continuing.
New Leadership for Grant Thornton
The sixth-largest accounting firm has chosen a new chief.
Stephen Chipman will be the next CEO of Grant Thornton LLP, succeeding Edward Nusbaum on Jan. 1, 2010, according to an announcement from the company.
In the News: NYSSCPA President Explains Accounting Reform Law
Happy Regulations Day!
The New York State Board of Regents is preparing right now to vote on the proposed regulations that will define the requirements of the accounting reform law that goes into effect next month.
WebCPA talked to NYSSCPA President David Moynihan as the clock ticked down to that important decision, and in a brief story Moynihan outlines the provisions of the new law and what CPAs should expect.
A wealth of knowledge is also available on the NYSSCPA's Web site. Get general information on the law, read the proposed regulations and review a special issue of The Trusted Professional dedicated to the legislation. Or ask a question.