Latest Articles

  • CPA Roundtable

    By:
    Chris Gaetano
    |
    Jul 23, 2015

    The NYSSCPA’s NextGen Conference for new and aspiring CPAs takes place later this week. In your opinion, what do up-and-comers in the profession agonize about needlessly? Conversely, what areas should they probably give more thought to? Here's what some CPAs had to say. 

  • IRS Hoping to Use Web to Meet Budget Challenges, But Security an Issue

    By:
    Chris Gaetano
    |
    Jul 23, 2015
    Fresh off a tax season that the IRS itself has characterized as miserable, with the strapped service able to field just a fraction of the calls it received, an official speaking at the Foundation for Accounting Education’s IRS Practice and Procedures Conference said the agency was trying to find ways to work better with its diminishing resources.
  • When Are New York CPAs Considered to be “Active” Practitioners? (And What Are Their CPE Responsibilities?)

    By:
    Jennifer Winters, CPA
    |
    Jul 21, 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.
  • Have You Considered Serving on the Society’s Nominating Committee?

    By:
    John J. Lauchert, CPA, NYSSCPA Secretary/Treasurer
    |
    Jul 15, 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.

  • Three Risk Management Concerns Your Firm Should Address

    By:
    Randy R. Werner, CPA, J.D., LL.M./TAX
    |
    Jul 14, 2015

    The fundamental principles of risk management for CPAs have remained remarkably consistent over the years, despite the variety and complexity of changes that continue to take place in regulatory and professional standards. This constancy is mainly due to the high expectations the public has for CPAs. Their assumptions of how CPAs should conduct themselves affect the way CPAs are perceived in the world of professional liability, where jurors, judges and arbitrators generally have a limited understanding of the accounting profession.

  • Four Best Practices for Responding to Data Theft

    By:
    Randy R. Werner, CPA, J.D., LL.M./TAX
    |
    Jul 13, 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 Weighs in on the Future of Peer Review

    By:
    Staff Reports
    |
    Jul 7, 2015
    The AICPA’s ambitious plan to revolutionize the 35-year-old peer review process with a near-real time engagement monitoring tool is being positioned to improve practice monitoring overall, but the NYSSCPA has identified some aspects of the proposal that need attention. 
  • 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. What major area would you like to see the FASB focus on in coming years?
  • Call for Nominations: 2015 Urbach CPA Community Builders Award

    By:
    Alonza Robertson
    |
    Jul 6, 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.

  • How They Got Here: CPAs Who Joined the Profession Later in Life Reflect on Their Journeys

    By:
    Chris Gaetano
    |
    Jun 30, 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.

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