Latest Articles

  • Society to Hold Annual Election Meeting on May 14

    By:
    F. Michael Zovistoski, CPA, NYSSCPA Secretary/Treasurer
    |
    Mar 31, 2015

    Please note that the annual membership meeting of the New York State Society of Certified Public Accountants will be held on Thursday, May 14, 2015, at 6:30 p.m. (opening reception: 5 p.m.) at the Eventi Hotel, 851 Avenue of the Americas, New York City.

  • Society Board Approves Proposed Amendments

    By:
    Robert Busweiler
    |
    Mar 31, 2015

    The NYSSCPA’s Board of Directors has approved a series of proposed changes to the organization’s bylaws that, among other things, clarify the Society’s role in ethics investigations and expand its communication channels with members.

  • The Right Plan at the Right Time

    By:
    Scott M. Adair, CPA, NYSSCPA President
    |
    Mar 31, 2015
    When I started my term as NYSSCPA president last June, one of my main goals was to update the Society’s strategic plan. We think of the strategic plan as a living, breathing document, one that must be as nimble as it is comprehensive. As the blueprint that drives our decision making, it takes a number of factors into account, not only within the profession, but at the state and national level and in a broader global context. 
  • As PCC Hits its Three-Year Mark, FAF Asks for Feedback on Performance

    By:
    Chris Gaetano
    |
    Mar 31, 2015
    As part of a mandated three-year review period, the Financial Accounting Foundation (FAF) is asking stakeholders to weigh in on how well the Private Company Council (PCC) has fared in addressing financial reporting issues relevant to private business entities. The FAF’s board of trustees recently released a request for comment asking interested parties to share their input by May 11. 
  • How to test an organization’s cybersecurity risk management program

    By:
    Joel Lanz, CPA/CITP, CFF, CISA, CISM, CISSP, CFE
    |
    Mar 23, 2015
    The audit committee season is now under way, and though first-quarter meetings usually focus on financial statement matters, there’s a good chance that the client’s ability to effectively mitigate cybersecurity risk will come up for discussion. 
  • IRS guidance offers relief for small businesses on HRAs, Form 3115

    By:
    Chris Gaetano
    |
    Mar 23, 2015
    Amid warnings of severe processing delays at the IRS this tax season, the preparer community got a pleasant surprise in February, when the service released new guidance offering relief from two tax provisions that CPAs considered particularly onerous.
  • Working on an estate tax return?

    By:
    Anthony J. Cooper, J.D.
    |
    Mar 19, 2015
    Late-filing penalties for estate tax returns are frequently used as grounds for professional liability claims against CPAs, in large part because of their cost: Given the steeply progressive tax rates for estate tax and rapidly accruing penalties, these can exceed $300,000.
  • For NYSSCPA members, tax season help is just a click or call away

    By:
    Staff Report
    |
    Mar 17, 2015
    Having trouble getting answers this tax season? Two highly interactive—and free—member benefits may lead you to the clarification or guidance you need: the technical hot­line, run by volunteers from more than 41 NYSSCPA technical committees, and Exchange, the Society’s social networking platform, which members often use to crowdsource their tax season challenges.
  • Society supports FASB proposal on practical expedient-valued investments

    By:
    Chris Gaetano
    |
    Mar 16, 2015
    The NYSSCPA expressed support for a proposal by the Financial Accounting Standards Board (FASB) that, if approved, would make it easier to consistently categorize investments in the fair value hierarchy. 
  • NYSSCPA agrees with limited partnership plan, but not retrospective application

    By:
    Chris Gaetano
    |
    Mar 11, 2015
    Though the NYSSCPA largely agreed with a Financial Accounting Standards Board (FASB) proposal meant to resolve certain inconsistencies in how earnings within master limited partnerships (MLP) are handled, it did raise concerns about the board’s plan to implement these changes retrospectively. 

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