Despite the financial sturm und drang of the last few years, James Glassman, Managing Director and Head Economist at JP Morgan, said that if he were to grade the U.S. on its economic recovery, he would give it an “A.” Surprised? Glassman, who made his remarks during the Foundation for Accounting Education’s CFOs, Controllers, Treasurers and Financial Professionals Conference, said the U.S. deserves some credit—things could have been much worse. 

On July 7, New York State Governor Andrew M. Cuomo signed into law a bill that allows marijuana to be used for medicinal purposes by patients with serious health conditions. The legislation creates new opportunities but, at the same time, new risks for businesses connected to the industry. Colorado State Auditor Dianne E. Ray a CPA, knows this all too well—last year, she completed the first ever performance audit of her state’s medical marijuana regulatory structure and got a close-up look at this burgeoning sector. 

The NYSSCPA has inducted five new members into its Young Leadership Circle, a program it launched last year to help identify and cultivate the organization’s next generation of leaders.

Clients will, on occasion, ask their CPAs to assist them with a human resources-related matter. For instance, the CPA might be enlisted to help a company recruit a new CFO. Or, he or she might be asked to assist the client in rethinking how its accounting department should be set up. 

The AICPA has filed a lawsuit against the IRS over a voluntary tax return preparer program that the institute said is riddled with flaws and should never have been implemented, since the IRS lacks the statutory authority to do so.