• Report: Women's Advancement in Workplace Losing Ground in Some Areas

    By:
    Chris Gaetano
    |
    Oct 10, 2017
    A study looking at 222 companies employing more than 12 million people, which included more than 70,000 individual surveys and a smaller number of in-person interviews, found that women's advancement in the workplace has either stalled or, in some areas, actually lost ground in 2017. 
  • Guardian: Deloitte Hack Hit Server Containing Emails From Across US Government

    By:
    Chris Gaetano
    |
    Oct 10, 2017
    The recent data breach of Big Four firm Deloitte may have been, upon further investigation, bigger than originally thought. While initially believed to have only impacted six clients, sources with knowledge of the hack told the Guardian they believed that this number is closer to 350, which includes four US government departments, the United Nations and some of the world’s biggest multinationals.
  • Regulatory Roundup: Oct. 4-10

    By:
    Chris Gaetano
    |
    Oct 10, 2017
    With so many regulators out there, it can be tough to keep track of all the decisions being made. This is the NYSSCPA’s regular series that collects relevant regulatory announcements from the past week, and puts them in one place to help you stay on top of the issues.
  • PCAOB Releases Revenue Recognition Guidance for Auditors

    By:
    Chris Gaetano
    |
    Oct 6, 2017
    The Public Company Accounting Oversight Board (PCAOB) has released staff guidance for how auditors can deal with the new revenue recognition standards. 
  • Study: Financial Rewards May Discourage Whistleblowers in Certain Circumstances

    By:
    Chris Gaetano
    |
    Oct 6, 2017
    A recent study has found that adding a financial incentive can, in certain cases, actually inhibit whistleblowers because the possibility of reward changes the choice from a moral decision to a cost-benefit one. 
  • Japanese Woman Works 152 Hours of Overtime, Dies

    By:
    Chris Gaetano
    |
    Oct 5, 2017
    A Japanese woman was said to have died to heart failure after working 152 hours of overtime over the course of a month. 
  • SEC Charges NY-based Investment Adviser With Running $20 Million Ponzi Scheme

    By:
    Chris Gaetano
    |
    Oct 5, 2017
    The Securities and Exchange Commission said that a Westchester investment adviser convinced 42 friends and acquaintances to invest millions of dollars into a risky options-trading scheme, lost pretty much all of it, but continued to tell them everything was fine as he desperately sought new investors to pay back the old ones. 
  • Amazon Hit With 250M Euro Tax Bill

    By:
    Chris Gaetano
    |
    Oct 4, 2017
    The European Union said that gigantic Internet retailer Amazon owes 250 million euros, approximately $293 million, because it benefited from a tax agreement with Luxembourg that was later found to be illegal. 
  • Report Finds Accounting Student Enrollment Remains at All-Time High

    By:
    Chris Gaetano
    |
    Oct 4, 2017
    Total number of enrollments in accounting programs at the bachelor's and master's level has remained at record-highs, while most firms expect they will hire the same number or more recent accounting graduates in 2017, according to the AICPA's newest Trends in the Supply of Accounting Graduates and Demand for Public Accounting Recruits report. 
  • Treasury Dept. Outlines Regulatory Rollbacks

    By:
    Chris Gaetano
    |
    Oct 4, 2017
    The U.S. Treasury Department released a report detailing regulatory rollbacks and revisions aimed at reducing what it says are the burdens of tax regulation. 
  • CPAs Expect Audits to Come with Bigger Price Tags under New PCAOB Rule

    By:
    Chris Gaetano
    |
    Oct 3, 2017

    More time, more risk and more expense—this is what auditors expect will be the effect of a recent Public Company Accounting Oversight Board (PCAOB) measure expanding the standard auditor’s report. Under the rule, formally approved by the board on June 1, the standard auditor’s report will include, among other things, the communication of “critical audit matters (CAM),” or information that the PCAOB believes investors and other users would find relevant.

  • SEC Chief Outlines Cybersecurity Steps in Wake of EDGAR Hack

    By:
    Chris Gaetano
    |
    Oct 3, 2017
    SEC Chair Jay Clayton outlined what the commission plans to do in the wake of a recent data breach that allowed hackers to potentially access market-moving information in the EDGAR system. 
  • Microsoft to Release New Version of Excel With More Features

    By:
    Chris Gaetano
    |
    Oct 3, 2017
    Microsoft announced that it plans to release a new version of Microsoft Excel, with more features that could make life just a little bit easier for accountants. 
  • Regulatory Roundup: Sept. 27-Oct. 3

    By:
    Chris Gaetano
    |
    Oct 3, 2017
    With so many regulators out there, it can be tough to keep track of all the decisions being made. This is the NYSSCPA’s regular series that collects relevant regulatory announcements from the past week, and puts them in one place to help you stay on top of the issues.
  • IRS Awards Equifax a $7.2 Million Fraud Prevention Contract

    By:
    Chris Gaetano
    |
    Oct 3, 2017
    In an irony of Sophoclean proportions, the IRS has awarded a $7.2 million fraud prevention contract to credit rating agency Equifax, which recently made headlines when it announced a massive data breach that affected potentially 44 percent of the U.S. population. 
  • Society Weighs in on IASB Disclosure Initiative

    By:
    Chris Gaetano
    |
    Oct 2, 2017
    The NYSSCPA advised the International Accounting Standards Board (IASB) to set clear requirements and avoid confusion with regards to the board's Principles of Disclosure initiative, which aims to improve disclosure quality for companies using IFRS. 
  • Study: Your Family Member Probably Won't Pay Back the Money You Lent Them

    By:
    Chris Gaetano
    |
    Oct 2, 2017
    While many no doubt have already learned this the hard way, a recent study has found that if you lend money to a family member, it is unlikely that you will get all of that money back. 
  • FASB Proposes Lease Standard Tweak to Account for Land Easements

    By:
    Chris Gaetano
    |
    Sep 28, 2017
    The Financial Accounting Standards Board (FASB) has proposed changing the lease accounting standard to clarify that, yes, a land easement should be evaluated as a possible lease, though there would be a practical expedient for those granted prior to the standard's approval. 
  • House Republicans Release Tax Plan Framework

    By:
    Chris Gaetano
    |
    Sep 28, 2017
    House Republicans, through the Ways and Means Committee, released the general framework under which they plan to craft more specific changes to tax policy. 
  • Speakers: Transition to Value-Based Medicaid Payment Looks Good So Far, But Much Remains to Do

    By:
    Chris Gaetano
    |
    Sep 27, 2017
    Health care in New York has come a long way since the global economic crisis forced major budget cuts in Albany, but State Medicaid Director Jason Helgerson, speaking at today's NYSSCPA Healthcare Conference, said that, even seven years later, there's still a lot to do.

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