Latest Articles

  • CPA Roundtable

    By:
    Chris Gaetano
    |
    Jul 6, 2015

    The Financial Accounting Standards Board (FASB) has asked stakeholders to identify issues that should be on the board’s agenda going forward. 

  • When Are New York CPAs Considered to be “Active” Practitioners? (And What Are Their CPE Responsibilities?)

    By:
    Jennifer Winters, CPA
    |
    Jun 30, 2015
    Understanding at what point CPAs are considered to be “active” and when they have continuing professional education (CPE) responsibilities can sometimes be a bit of a challenge for those New York CPAs who are no longer working in a public accounting firm—whether they have retired, taken an accounting or financial position in an enterprise outside a public accounting firm, or simply left accounting altogether and have entered a new profession.
  • When Client Funds Disappear: Preventing Theft in High-Risk Engagements

    By:
    Ron Klein, J.D., CFE
    |
    Jun 29, 2015
    With certain CPA firm engagements, there is a higher risk that a client’s funds may be misused, especially if internal controls are not strong enough to prevent staff from abusing signatory authority that has been entrusted to them.
  • How They Got Here: CPAs Who Joined the Profession Later in Life Reflect on Their Journeys

    By:
    Chris Gaetano
    |
    Jun 23, 2015

    In the May 2015 issue of The Trusted Professional, we asked managing partners about the advantages and challenges of hiring a newly licensed CPA who chose accounting as a second career. Here, we speak to career changers themselves about what it’s like to take a more circuitous route to the profession.

  • Society to FAF: Don’t Dilute the PCC

    By:
    Chris Gaetano
    |
    Jun 23, 2015
    In the three years since it was created, the Private Company Council (PCC) has become such an important part of the standards-setting process that the Financial Accounting Foundation (FAF) should both increase support for the new body and significantly expand its reach, the NYSSCPA said in a recent comment letter. 
  • Have You Considered Serving on the Society’s Nominating Committee?

    By:
    John J. Lauchert, CPA, NYSSCPA Secretary/Treasurer
    |
    Jun 16, 2015

    Are you interested in helping to select who will serve on next year’s NYSSCPA Board of Directors? If so, consider serving on the Society’s Nominating Committee. This year’s 11-person Nominating Committee will be recommending a president-elect, four vice presidents, a secretary/treasurer, five at-large directors and directors from the Mid Hudson, Northeast, Queens/Brooklyn, Rockland and Utica chapters. These nominees are then presented to the membership in a proxy/ballot that is sent out in April.

  • Lawmakers Pass Legislation Aimed at Dual Registration Threat

    By:
    Robert Busweiler
    |
    Jun 16, 2015
    The State Senate and Assembly passed legislation on June 16 that would exempt certified public accountants in New York from having to register as private investigators when performing forensic accounting work.
  • Special Report: How the Consensus Shifted Away From IFRS Adoption

    By:
    Chris Gaetano
    |
    Jun 16, 2015

    When the Securities and Exchange Commission (SEC) released its proposed road map for International Financial Reporting Standards (IFRS) in 2008, then Chair Christopher Cox described the move toward a “true lingua franca for accounting,” that would be used in capital markets everywhere, as a near inevitability. Since then, however, the SEC’s discourse on IFRS and its relationship with U.S. generally accepted accounting principles (GAAP) has shifted dramatically. 

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

    By:
    Duncan B. Will, CPA/ABV/CFF, CFE
    |
    Jun 12, 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.

  • Call for Nominations: 2015 Urbach CPA Community Builders Award

    By:
    Alonza Robertson
    |
    Jun 12, 2015

    Do you know a CPA in New York state who has demonstrated exemplary leadership to community-based charities? Nominate him or her now for the 12th annual Michael H. Urbach, CPA, Community Builders Award.

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