Ethics

  • Ethics CPE Regulatory Changes Set to Take Effect in 2020

    By:
    Ruth Singleton
    |
    Dec 14, 2018

    While acknowledging that the NYSSCPA is opposed to the changes, the New York State Board for Public Accountancy has approved regulatory language implementing new ethics continuing professional education (CPE) requirements. New York-licensed CPAs will be required to complete two credits of ethics CPE every year, rather than the current four credits every three years. In addition, two out of six credits every three years will have to include a New York state-approved ethics course, while the other four can be in a variety of ethics topics, including behavioral ethics. The changes will apply to registrations ending on or after Jan. 2, 2020, but because of a delay in new regulations going before the Board of Regents for approval, there is a possibility that the changes will go into effect later than that. 

  • Ethics CPE Regs Unchanged for 2018

    By:
    Ruth Singleton
    |
    Feb 21, 2018

    New York state’s ethics continuing professional education (CPE) requirement will remain unchanged for the 2018 year because the State Board for Public Accountancy did not submit for approval proposed rule changes to the Board of Regents in 2017.

  • State Education Department Proposes Changes to Annual Professional Ethics CPE Requirement

    By:
    Ruth Singleton
    |
    Aug 8, 2017
    Beginning in 2018, New York-licensed CPAs will be required to earn six CPE credits in ethics every three years, up from the current four-credit requirement, if the New York State Board of Regents approves the measure this fall.
  • State Board Audit Finds 50% of CPAs Noncompliant with Ethics CPE Requirement

    By:
    Ruth Singleton
    |
    Feb 21, 2017
    A recent New York State Board for Public Accountancy audit of state-licensed CPAs’ continuing professional education (CPE) compliance in 2016 revealed that only 50 percent of New York-licensed CPAs had fulflled the state’s professional ethics CPE requirement.

  • Society sees weakness in FASB materiality proposal

    By:
    By Chris Gaetano
    |
    Feb 11, 2016

    The NYSSCPA, in a Dec. 8 comment letter, expressed concern that the Financial Accounting Standards Board’s (FASB) two proposed changes to materiality standards would actually add more complexity and cost to financial reporting, rather than streamlining it.

  • Notice of the Ethics Committee

    By:
    Steven J. Leifer, CPA
    |
    Apr 30, 2015

    The AICPA has adopted “Breach of an Independence Interpretation” (1.298.010), which assists members and members’ firms in addressing a breach of the independence rules. This new interpretation of the Code of Professional Conduct sets forth how an identified breach should be communicated within the firm and how the responsible individual in the firm should evaluate whether the breach can be satisfactorily addressed, or whether an attest engagement should be terminated. 

  • Doing the Right Thing: When is a Contingent Fee Arrangement Considered an Act Discreditable?

    By:
    Victoria L. Pitkin, CPA
    |
    Jan 1, 2015

    There are two questions that often arise within the profession: When is a CPA prohibited from accepting a contingent fee? And where can one find the rules regarding it? The answers to both, however, are fairly straightforward. 

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