• Society Praises Proposed Changes to CPA Exam

    By:
    Chris Gaetano
    |
    Jan 5, 2016

    The AICPA is rolling out a new exam in 2017, giving the accounting profession an opportunity to better assess a candidate’s professional judgment and written communication skills.

  • Is your tax client a keeper?

    By:
    SUZANNE M. HOLL, CPA
    |
    Dec 15, 2015
    Clients aren’t the only ones who need to think about year-end tax planning. Now is a good time for CPAs to screen tax clients and decide whether they are worth keeping. 
  • Board of Directors nominations due Jan. 7

    By:
    JOHN LAUCHERT, CPA, CGMA
    |
    Dec 15, 2015
    Eligible NYSSCPA members who believe they have enough Society leadership experience and are ready to serve on the NYSSCPA Board of Directors beginning in June 2016, must submit a nomination to the NYSSCPA’s Nominating Committee by Jan. 7. 
  • NYSSCPA Kicks Off Get Money Smart Campaign at NY Public Library

    By:
    Maya Lindsay
    |
    Oct 27, 2015

    NYSSCPA member volunteers shared their expertise with more than 150 area residents on Friday at the New York Public Library’s (NYPL’s) annual Financial Planning Day, an eight-hour event open to the general public featuring financial planning seminars and access to regulators, nonprofits, state and local governments and other groups who can aid New Yorkers looking to increase their financial acuity. The event took place at NYPL’s Science, Industry and Business Library on 34th Street in New York City.


  • How Can Sole Practitioners and Small Firm Owners Stay Competitive?

    By:
    Chris Gaetano
    |
    Oct 9, 2015

    We posed that question to four NYSSCPA members during our latest CPA Roundtable. Here's what they said.

  • The CPA Journal Gets National Recognition

    By:
    Maya Lindsay
    |
    Oct 6, 2015

    The CPA Journal, the NYSSCPA's technical-refereed publication for accounting practitioners and other financial professionals, has been named a finalist in the 2015 Folio Awards, which recognize outstanding magazine journalism. The Journal earned the nod for its “Then & Now” series, which takes a look at the profession’s past and future from the perspective of senior partners and experts in the field. It was selected as a finalist in the “Association/Non-Profit Series or Article” category. 

  • Rockland CPA Named Winner of 2015 Urbach Award

    By:
    Maya Lindsay
    |
    Oct 6, 2015

    NYSSCPA member Allen L. Fetterman has been chosen to receive the 2015 Urbach CPA Community Builders Award, for his leadership in the merging of two Rockland County synagogues this  past year. Fetterman—whose expertise helped avert a looming financial crisis—led the consolidation of Temple Beth Torah of Nyack, N.Y., and Temple Beth El of Spring Valley, N.Y. into a newly formed 501(c) (3) entity called The Reform Temple of Rockland. He is currently the co-president of the temple’s board.

  • NYSSCPA Calls for Limits to Nano-Learning in Response to Proposed Changes to CPE Standards

    By:
    Chris Gaetano
    |
    Oct 6, 2015

    While acknowledging the growing popularity and use of a new continuing professional education (CPE) format called “nano-learning,” which awards a fraction of a credit through a 10-minute lesson and evaluation, the NYSSCPA, in a recent comment letter, none the less cautioned against allowing CPAs to rely on such courses for the bulk of their professional development. 

  • A Closer Look at the Controversial Dodd-Frank Pay Disclosure Rule

    By:
    Chris Gaetano
    |
    Oct 6, 2015

    The boss will always make more than the workers, but under a regulation recently adopted by the Securities and Exchange Commission (SEC), a company’s employees and investors will now be able to determine how much more. The rule, which the commission passed in a 3-2 vote on Aug. 5, requires public companies to make three additional disclosures in their annual filings: the median of the annual total compensation of all employees, excluding the CEO; the annual total compensation of the CEO; and the ratio between the two. Companies would have to report the information for their first fiscal year beginning on or after Jan. 1, 2017.

  • Adding PFP to Your Practice? Experts Offer Step-by-Step Guidance

    By:
    Chris Gaetano
    |
    Oct 5, 2015

    Do CPAs have a place in personal financial planning (PFP)? A few decades ago, that might have been a provocative question. Take, for example, “Accountants as Financial Planners,” a 1991 New York Times story about the AICPA’s efforts to highlight CPAs who ventured into PFP. Putting the accounting profession on the defensive, the article wondered, “Why should the public get their financial advice from CPAs, as opposed to non-accountants?” (Stuart Kessler, an NYSSCPA past president who was interviewed for the piece, offered one succinct answer: Because CPAs “are bound by enforceable standards of conduct. The CPA is thought of in the public mind as being independent and objective.”)

  • Cast Your Vote: The 2015-2016 NYSSCPA Nominating Committee Election

    By:
    John J. Lauchert, CPA, NYSSCPA Secretary/Treasurer
    |
    Sep 29, 2015

    CPA members of the New York State Society of CPAs are being asked to cast ballots to select nine individuals to serve on the 2015-2016 Nominating Committee. According to Article IX of the NYSSCPA Bylaws, when more than nine members submit valid petitions to serve on the Nominating Committee, a member ballot shall be had. This ballot will determine the nine individuals who will serve on the Nominating Committee, along with the two designees submitted by the Board of Directors.

     
  • DOL Takes Aim at Overtime, Worker Classification with New Directives

    By:
    Chris Gaetano
    |
    Sep 22, 2015
    The U.S. Department of Labor (DOL) is cracking down on companies that try to circumvent federal regulations on overtime eligibility and worker classification, in a push that could hold significant consequences for a CPA’s business clients, as well as for his or her own firm. The department has taken on the hot-button issues in recent months, with a two-pronged attack. 
  • Society: FASB’s Nonprofit Proposal Does Opposite of What it Intends

    By:
    Chris Gaetano
    |
    Sep 22, 2015
    A proposal by the Financial Accounting Standards Board (FASB) that would radically alter the way non profit organizations present their financial information raises more problems than it solves, according to the NYSSCPA. In a comment letter published in August, the Society said the board’s plan was needlessly complex, falling far short of its goal to provide greater clarity, and was even more far-reaching than the board suggested. 
  • New York State Medicaid Chief to Keynote Healthcare Conference Thursday

    By:
    Maya Lindsay
    |
    Sep 22, 2015
    Jason Helgerson, the state’s Medicaid chief, will be the keynote speaker at the NYSSCPA's 2015 Health Care Conference on Thursday, Sept. 24 at the Society’s 14 Wall Street office. Helgerson is expected to share insights on the state’s new Delivery System Reform Incentive Program (DSRIP), a key feature of the effort to lower New York’s $53 billion in Medicaid spending—the second highest of any state in the country—while also holding healthcare providers more responsible for improved service.
  • Signing a Technology Contract? Don’t Do it Without Asking These Questions First

    By:
    JOEL LANZ, CPA/CITP, CFF, CISA, CISM, CISSP, CFE
    |
    Sep 14, 2015
    Outsourcing technology—whether shifting IT services to a vendor or taking advantage of a slew of automated processes afforded by cloud computing—has never been more popular. It’s a frequent topic in accounting literature and a prominent talking point for presenters at accounting conferences. But, as with any business opportunity, in order to realize the benefits, entities must first reduce risk to a tolerable level reflective of their risk appetite.
  • CPAs: Here's How You Can Help the Public Get Money Smart

    By:
    Alonza Robertson
    |
    Sep 8, 2015
    October is Financial Planning Month and, once again, the Society is set to host several financial education and financial literacy events. Here's how NYSSCPA members can get involved.
  • War Story: The Perils of Overlooking a Hidden Stakeholder

    By:
    RON KLEIN, J.D., CFE
    |
    Sep 8, 2015

    In this war story, drawn from the claims files of Camico, a CPA-directed insurer and risk management program for accountants, when an absentee owner is left out of negotiations, it’s the CPA who’s taken to task—and to court.

  • PRESIDENT'S COMMENTARY: An Important Election for Our Organization

    By:
    Joseph M. Falbo, CPA, NYSSCPA President
    |
    Sep 1, 2015

    With a record number of candidates seeking positions on the NYSSCPA’s 2015–2016 Nominating Committee, the Society’s CPA membership will be called upon in the weeks ahead to cast ballots and select several individuals to serve. 

  • When Are New York CPAs Considered to be “Active” Practitioners? (And What Are Their CPE Responsibilities?)

    By:
    Jennifer Winters, CPA
    |
    Aug 27, 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.
  • CPA, Private Eye? Not in NY, Thanks to Society Legislative Win

    By:
    Robert Busweiler
    |
    Aug 24, 2015

    In June 2013, the New York Department of State quietly asserted, in a letter responding to a formal inquiry by a regional firm, that a CPA performing forensic accounting investigations in New York state needs to obtain another license--for a private investigator. According to a state department attorney at the time, the services a forensic accountant provides to clients fell within the statutory scope of private investigation, thus the requirement for dual licensure. That’s when the NYSSCPA began petitioning the legislature and for an exemption, said NYSSCPA Executive Director Joanne Barry.

Click here to see more of the latest news from the NYSSCPA.