Advocacy

  • 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. 
  • 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.
  • NYSSCPA Agrees With FASB on Investment Company Proposal

    By:
    Chris Gaetano
    |
    Apr 9, 2015
    The NYSSCPA has given its support to a Financial Accounting Standards Board (FASB) proposal that would require master-feeder funds to provide financial statements, saying the move would codify what had long been standard industry practice and would boost transparency. The Society expressed its views in a comment letter written by members of its Financial Accounting Standards Committee and published on Feb. 15.
  • 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. 
  • Society weighs in on ‘BitLicense’ proposal

    By:
    CHRIS GAETANO
    |
    Dec 9, 2014
    Though the NYSSCPA supports a proposal from the New York State Department of Financial Services (NYSDFS) that would govern the transfer and use of virtual currencies among financial intermediaries, it called on the agency to address ambiguities in the language that the Society said would cause confusion, and work to better align the plan with existing processes. The Society weighed in on the matter in October with a comment letter written by members of its Virtual Currency Task Force.
  • Society pans 990 extension process

    By:
    CHRIS GAETANO
    |
    Sep 23, 2014
    In a comment letter released on Aug. 14, the NYSSCPA urged the Internal Revenue Service (IRS) to streamline the way it handles extensions for exempt organization filings, arguing that the current setup is inefficient and puts an unnecessary burden on entities.
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