• Feeling Sleepy at Work? One Man Came Up With a Needlessly Complicated Solution

    By:
    Chris Gaetano
    |
    Jul 15, 2016
    Sometimes you just don't have that pep in your step, that get up and go, that you need to have a productive workday. For those times, artist Joseph Herscher came up with a far too complicated solution. 
  • GOP House Members Defy Speaker, Demand Floor Vote on Koskinen Impeachment

    By:
    Chris Gaetano
    |
    Jul 14, 2016
    A group of Republican House members are planning to force a vote on impeaching IRS Commissioner John Koskinen, despite opposition from Speaker Paul Ryan. 
  • SEC Proposes Simplifying Certain Disclosures

    By:
    Chris Gaetano
    |
    Jul 14, 2016
    The Securities and Exchange Commission issued a proposal that would get rid of what it believes to be outdated, redundant, and needlessly complex disclosure requirements. 
  • Suits vs. Hoodies: Someone Who's Worked in Both Finance and Tech Talks Differences, Similarities

    By:
    Chris Gaetano
    |
    Jul 13, 2016
    Both Silicon Valley and Wall Street generate big money and attract driven, ambitious people, but as one might imagine, there's significant cultural differences between the two sets, according to someone who's worked in both. 
  • Career Advancement Without the Ruthlessness

    By:
    Chris Gaetano
    |
    Jul 13, 2016
    While the business world is often portrayed as a Hobbesian war of all against all where only the strong survive, an article in Fast Company notes that this isn't necessarily the case, and that it's perfectly possible to advance your career while still playing nice. 
  • President Calls for Public Option to Salve Obamacare Woes

    By:
    Chris Gaetano
    |
    Jul 12, 2016
    President Barack Obama has called for the creation of a public option in response to issues faced during implementation of the Affordable Care Act, a measure that had been included in the original legislation but was removed to ease along its passage. 
  • Recovering from a Major Career Blunder

    By:
    Chris Gaetano
    |
    Jul 12, 2016
    Whether you walked out on the job, told off your boss in front of everyone or got too drunk at the office Christmas party, there's no way to avoid acknowledging that you've made a huge mistake. But before you decide to sell all your possessions and live in a yurt to herd yaks for the rest of your days, maybe try some of these suggestions to recover. 
  • IRS Probes Facebook Over Potentially Undervaluing Assets

    By:
    Chris Gaetano
    |
    Jul 11, 2016
    The IRS has filed a court petition to compel social media company Facebook to give up books, documents, data and other records as part of an investigation into whether it undervalued intangible assets it sold to an Irish subsidiary. 
  • Ernst and Young Audit Confirms Most Women on Ashley Madison Site Actually Bots

    By:
    Chris Gaetano
    |
    Jul 11, 2016
    An audit performed by Big Four firm Ernst and Young has confirmed that the majority of the alleged women on infidelity website Ashley Madison are, in actuality, chat bots designed to get money out of gullible men. 
  • Comptroller: NYC Improperly Gave $59.2 Million in Tax Credits to Dead People, Corporations

    By:
    Chris Gaetano
    |
    Jul 8, 2016
    A recent report from NYC Comptroller Scott Stringer said that $59.2 million worth of tax credits meant for senior citizens went, instead, to dead people and corporations. 
  • TIGTA: Former IRS Employees Retained Security Access

    By:
    Chris Gaetano
    |
    Jul 8, 2016
    The Treasury Inspector General for Tax Administration faulted the IRS for, in several cases, failing to remove security access from employees who had left the agency. In some cases, former employees used their security access to later enter buildings. 
  • Survey: Meetings, Poor Performers Named as Biggest Time Sinks for Leaders

    By:
    Chris Gaetano
    |
    Jul 7, 2016
    An article in Forbes reports that, from a survey of 1,500 business leaders, the biggest wastes of time seem to be related to meetings and supervising poor performers. 
  • People Working Longer Hours, More of Them From Their Home

    By:
    Chris Gaetano
    |
    Jul 6, 2016
    The number of hours people in the U.S. work has been steadily creeping upward, and an article in FastCompany says it might be because more people are working from home. 
  • AICPA, CIMA Members Vote to Approve Joint Venture

    By:
    Colleen Lutolf
    |
    Jun 18, 2016
    The AICPA's plan to create a new, international association with the Chartered Institute of Management Accountants (CIMA) will move forward after members of both groups voted to approve the proposal, according to the Institute.

  • What to Do When Your Data Is Held for Ransom

    By:
    Randy R. Werner, CPA, J.D., LL.M./TAX
    |
    Jun 14, 2016
    Ransomware and cyber-extortion represent one of the more malicious types of hacker attacks making the rounds today. It sneaks into computer systems, encrypts files and demands a ransom before decrypting the files. A major problem is that ransomware doesn’t always decrypt files, even after the ransom is paid. Being prepared and taking precautions against cyber risk exposures such as this type of malicious software is therefore essential.
  • Members Approve New Membership Category in Bylaws Amendment Vote

    By:
    Colleen Lutolf
    |
    Jun 14, 2016
    The NYSSCPA opened its membership to a broader category of non-CPAs on June 1, shortly after members approved, 1,393 to 627, an amendment to the Society’s bylaws in a full-membership vote on the proposal. A two-thirds majority was required for the amendment to pass.
  • Newsmaker: IASB’s Hoogervorst Readies for Round Two

    By:
    Chris Gaetano
    |
    Jun 7, 2016

    Hans Hoogervorst begins his second term as chair of the International Accounting Standards Board (IASB) in July. When appointed in 2011, he was facing a global economy still recovering from the economic crisis, as well as several major projects with the Financial Accounting Standards Board (FASB). He took the time to talk to the Trusted Professional about his reflections on his first term, as well as his priorities for the future. 

  • Society honors best biz reporting of 2015 at EFJ Awards

    By:
    Colleen Lutolf
    |
    Jun 3, 2016

    The NYSSCPA honored some of 2015’s best financial journalism and the reporters who produced it at the Society’s annual Excellence in Financial Journalism Awards luncheon on May 6 at the Tribeca Grill in New York City. 

  • IRS assesses single tax liability to large partnerships

    By:
    CHRIS GAETANO
    |
    May 31, 2016

    The Bipartisan Budget Act of 2015, which gave the United States a little more breathing room on its debt obligations, has also created a time-saving and revenue-raising change to the audits of large partnerships. Very large partnerships.

    The IRS has been adhering to rules established by the Tax Equity and Fiscal Responsibility Act (TEFRA) of 1982, which instructed them to pass along audit adjustments to the individual partners, unless the firm elected to be taxed at the entity level, which few did. 

  • Mervyn E. King: The godfather of sustainability reporting

    By:
    CHRIS GAETANO
    |
    May 31, 2016

    Mervyn E. King is one of the world’s pre-eminent experts on corporate governance. Prior to his work on South Africa’s King Committee in 1994, sustainability reporting didn’t really exist. He’s traveled the world—39 countries to be exact—lecturing on the topic and is associated in numerous ways with several other organizations including the Commonwealth Association of Corporate Governance, the World Bank and the United Nations. King is the former chair of the International Integrated Reporting Council (IIRC) and of the Global Reporting Initiative (GRI), and has been a relentless advocate of the sustainability reporting movement. King took the time to talk to the NYSSCPA in advance of his appearance at the Foundation for Accounting Education’s Sustainability Investment Leadership Conference on May 6 in New York City. 

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