Latest Articles

  • Army Audit Finds Trillions in Improper Adjustments

    By:
    Chris Gaetano
    |
    Aug 24, 2016
    The Department of Defense's Inspector General has found that the U.S. army has made trillions of dollars worth of improper accounting adjustments in order to appear that its books were balanced. 
  • SEC Charges 71 Municipal Entities With Making False Statements

    By:
    Chris Gaetano
    |
    Aug 24, 2016
    The Securities and Exchange Commission, as part of an initiative to improve disclosure quality from municipal issuers, has charged 71 entities with offering documents with materially false statements or omissions about their compliance with continuing disclosure obligations. 
  • IRS Launches New Resource Center for Sharing Economy-based Income

    By:
    Chris Gaetano
    |
    Aug 23, 2016
    The IRS has launched a new resource center that deals with how income from sharing economy platforms such as Uber or Airbnb should be treated for tax purposes. 
  • Judge Strikes Down E&Y Employment Clause Barring Workers from Class Action Suits

    By:
    Chris Gaetano
    |
    Aug 23, 2016
    The 9th U.S. Circuit Court of Appeals in San Francisco told Ernst and Young that it cannot forbid its employees from organizing class action lawsuits by forcing then into individual arbitration. 
  • PCAOB Finds Major Problems in Broker-Dealer Audits

    By:
    Chris Gaetano
    |
    Aug 22, 2016
    The Public Company Accounting Oversight Board's latest inspections on broker-dealer audits has found that 77 percent of them contain deficiencies. 
  • IRS Proposes Raising User Fees for Installation Agreements

    By:
    Chris Gaetano
    |
    Aug 22, 2016
    The IRS has proposed increasing the user fees that come with setting up an installation agreement, as well as create two new types of installation agreements, each with their own separate user fees. 
  • AICPA Proposes Peer Review Changes

    By:
    Chris Gaetano
    |
    Aug 18, 2016
    The AICPA has proposed changes to its peer review standards that would alter the representation letter and peer review report to make it more clear whether a firm has performed single audits and other must-select engagements, and whether those engagements are within the scope of the peer review. 
  • Birthdays, Anniversaries, Reunions Risk Factors for People Quitting

    By:
    Chris Gaetano
    |
    Aug 18, 2016
    New research has found that what makes people pondering quitting their jobs may not necessarily have anything to do with their jobs: events like birthdays, anniversaries, and class reunions have been found to increase job hunting activity. 
  • NEWS HIGHLIGHTS FOR WEDNESDAY - 8.17.16

    By:
    Maya Lindsay
    |
    Aug 17, 2016

    NYSSCPA Members in the News

    Tammy Straus (Nassau)
    Hain Celestial shares plunge after financial reporting news
    amNewYork
    Shares of Lake Success-based Hain Celestial Group Inc. plunged more than 20 percent Monday after the close of regular trading, following the company’s disclosure that it was evaluating its internal control over financial reporting and that it doesn’t expect to reach its previously announced revenue forecast for fiscal 2016. The organic and natural products company, with brands including Celestial Seasonings, Earth’s Best, Terra and Spectrum, also announced in a statement it was delaying the release of its financial results for its fourth quarter and fiscal 2016, ended June 30.

  • SEC Fines Company for Anti-Whistleblower Exit Clause

    By:
    Chris Gaetano
    |
    Aug 17, 2016
    The Securities and Exchange Commission (SEC) has fined a California insurance company for a clause in its severance agreements that require outgoing employees to waive their ability to obtain monetary awards from the SEC’s whistleblower program.