Latest Articles

  • CPA Roundtable

    By:
    Chris Gaetano
    |
    May 29, 2015

    What are the advantages of hiring a newly licensed CPA who chose accounting as a second career? Conversely, what reservations might you have? 

  • NYSSCPA Responds to DOL Report on Employee Benefit Plan Audit Deficiencies

    By:
    Scott M. Adair, CPA, NYSSCPA President
    |
    May 29, 2015

    A recent study conducted by the Department of Labor’s Employee Benefits Security Administration, and released yesterday, shows a high rate of audit deficiencies in employee benefit plan audits, especially for those auditors who conduct only one to five of these audits a year. 
  • Society Tackles Dual Registration Threat for Forensic CPAs

    By:
    Robert Busweiler
    |
    May 26, 2015
    By working with lawmakers in both the Senate and the Assembly, the NYSSCPA has been successful in getting legislation introduced that would remove the threat of a dual registration requirement for CPAs performing forensic accounting work.
  • FAF Proposes One-year Delay of Revenue Recognition Standard

    By:
    Chris Gaetano
    |
    May 25, 2015

    The Financial Accounting Foundation (FAF)—which houses both the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB)—issued a formal proposal on April 29 to delay the implementation of the new revenue recognition standard by one year for both public and private companies. 

  • PCAOB Approves More User-Friendly System for Auditing Standards

    By:
    Chris Gaetano
    |
    May 22, 2015

    The Public Company Accounting Oversight Board (PCAOB) is moving forward with its plan to  reorganize and codify its existing auditing standards into a format that it hopes will be easier to navigate. The board first proposed the changes—which do not alter the standards themselves or impose new requirements on auditors—in a 2013 exposure draft. It approved the reorganization during an open meeting on March 31.

  • Four Best Practices for Responding to Data Theft

    By:
    Randy R. Werner, CPA, J.D., LL.M./TAX
    |
    May 12, 2015

    An external auditor was brought in to audit the financial statements of a multistate grocery store chain. During the engagement, he uploaded payroll and pension plan data for some 5,000 employees onto his laptop, which he planned to encrypt once he got back to his office. On his way there, he stopped for lunch at a restaurant and left his laptop in the car. When he returned, the doors had been unlocked and the computer was missing.

  • NYSSCPA Award Winner Sid Kess Spent Lifetime Educating Others

    By:
    Chris Gaetano
    |
    May 12, 2015

    Iyou’re a CPA and you earned your license within the last six decades, you’ve probably learned a thing or two from Sidney Kess, the 2015 winner of the NYSSCPA’s Dr. Emanuel Saxe Outstanding CPA in Education Award. The Brooklyn native, who celebrated his 56th year as an NYSSCPA member this February, has been a trusted guide for accountants since 1952, teaching review courses, seminars and conferences, and producing audio cassettes, newsletters and books.

  • New FASB Proposal Brings Sea Change to Nonprofit Financial Reporting

    By:
    Chris Gaetano
    |
    May 11, 2015
    The Financial Accounting Standards Board (FASB) has taken the next step in its bid to update reporting rules for nonprofit organizations, the first overhaul of this area in more than 20 years. The board released an exposure draft, “Presentation of Financial Statements of Not-for-Profit Entities,” outlining likely changes, on April 22. 
  • NYSSCPA Posthumously Honors Past President David J. Moynihan

    By:
    Chris Gaetano
    |
    May 11, 2015
    The NYSSCPA has posthumously awarded its 2009–2010 President David J. Moynihan with one of its highest honors, in recognition of his commitment both to the Society and to the profession, which spanned the course of several decades and included a variety of roles. 
  • Former White House Press Secretary and Cohost of Fox's 'The Five' to Keynote Annual Dinner on May 14

    By:
    Staff Reports
    |
    May 6, 2015

    NYSSCPA members will get a chance to meet and mingle with one of television's most-watched political commentators and former White House press secretary, Dana Perino, at the NYSSCPA's 118th Annual Dinner on May 14 at the Eventi Hotel in Midtown.

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