Advocacy

  • 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.
  • Speaking truth to power

    By:
    SCOTT M. ADAIR, CPA, NYSSCPA PRESIDENT
    |
    Sep 9, 2014
    As the unified voice for more than 28,000 CPAs throughout New York state, the NYSSCPA has always recognized its obligation to meet issues affecting our profession head on. This is true whether it means taking our concerns to a regulator or standards setter; to the Capitol Building in Albany; or to Capitol Hill in Washington, D.C. But we had a truly unique scenario last month, in which we found ourselves having to confront the president of the United States in defense of CPAs everywhere.
  • FAE Speakers: Fed Plan Sparks Concerns About Fixed Income

    By:
    CHRIS GAETANO
    |
    Aug 5, 2014
    That’s what BlackRock’s managing director and chief investment strategist for fixed income, Jeffrey Rosenberg, told a group of CFOs and other financial professionals looking to navigate the fixed- income environment at the recent Foundation for Accounting Education’s CFO’s, Controllers, Treasurers, and Financial Professionals Conference in New York City.
  • Senate Passes CPA Firm Ownership Bill

    By:
    TRUSTED PROFESSIONAL STAFF
    |
    Jun 19, 2014
    On June 10, the New York State Senate passed a bill, S4596B, that would allow New York-based CPA firms to offer minority ownership stakes to a wider range of top-level professionals, not just CPAs. 
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