Latest Articles

  • 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.

  • We Only Have 9 Days Left to Meet This Challenge!

    By:
    Staff Report
    |
    May 6, 2015

    An anonymous NYSSCPA member has offered to personally donate $10,000 to the Foundation for Accounting Education’s #CarryItForward campaign, but there’s a catch—he is challenging his fellow NYSSCPA members to live up to Dave’s example and raise a total of $10,000 by 6 p.m., May 14, in order to meet his matching gift. Our generous donor will be recognized that evening, at the NYSSCPA’s Annual Election Meeting and Dinner, at the Eventi Hotel in New York City. 

  • NYSSCPA Panels Help Public Make Sense of Tax Issues

    By:
    Maya Lindsay
    |
    May 5, 2015
    Though taxpayers had a hard time getting answers from the IRS this year—the trouble-plagued service said it could respond only to a fraction of the calls it received—some got just the help they needed, thanks to a long-standing NYSSCPA tradition.
  • PCAOB Approves More User-Friendly System for Auditing Standards

    By:
    Chris Gaetano
    |
    May 5, 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 5, 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.

  • Five Value-Added Suggestions That Could Change a Client’s Business

    By:
    Joel Lanz, CPA/CITP, CFF, CISA, CISM, CISSP, CFE
    |
    May 1, 2015

    As busy season comes to a close, many practitioners will begin preparing to meet with clients and discuss ideas for improvements identified during the past audit season. This is a great time to share value-added suggestions for enhancing operations, which, especially in the case of a nonpublic client, may result in additional business opportunities for the firm. Even when they don’t, there can be other benefits, such as strengthening the client’s desire to continue working with your team. The following list will assist you in developing value-added suggestions. It reflects some of the most pressing concerns that industries and organizations of all sizes continue to struggle with, as they try to reduce their IT risk down to an acceptable level. Consider each area as an opportunity to communicate important issues to clients and help them devise a plan of attack.

  • Should You Be Auditing Employee Benefit Plans?

    By:
    Adam S. Lilling, CPA, CFA
    |
    Apr 28, 2015

    Accountants who specialize in tax and general accounting services are often asked by their clients to perform audits of employee benefit plans (EBP), such as 401(k) and health and welfare plans. But if you don’t routinely conduct EBP audits, you may not be aware of their unique characteristics, such as testing demographic data, hardship withdrawals and remitting employee contributions on a timely basis.

  • CPA Roundtable

    By:
    Chris Gaetano
    |
    Apr 21, 2015

    In our latest roundtable, CPAs speak candidly about the alarm bells that signal something is awry in an audit.

  • NYSSCPA Announces the Winners of its 32nd Annual Excellence in Financial Journalism Awards

    By:
    Alonza Robertson
    |
    Apr 19, 2015

    The winners of the 32nd annual Excellence in Financial Journalism Awards were announced today by the New York State Society of CPAs. The Awards recognize outstanding national and local media whose work, published or broadcast in 2014, contributed to a better understanding of business and financial topics.

  • War Story Quiz: When Practices Merge, What Gets Lost in the Shuffle?

    By:
    Duncan B. Will, CPA/ABV/CFF, CFE
    |
    Apr 13, 2015

    “War Stories” are drawn from the claims files of Camico, a CPA-directed insurer and risk management program for accountants, and illustrate some of the dangers in the accounting profession. All names have been changed.

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