Features

  • 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. 
  • 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.
  • 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.
  • War Story: When a Co-Trustee Falls Short

    By:
    Ron Klein, J.D., CFE
    |
    Aug 21, 2015

    “War Stories” are drawn from the claims files of Camico, a CPA-directed insurer and risk management program for accountants, and illustrate some of the dangers and pitfalls in the accounting profession. All names have been changed.

    In this edition, we explore the risks involved in trustee services. Claims experience shows that one of the most common sources of risk in trusteeships is a lack of understanding of—or appreciation for—the duties and responsibilities of a trustee. CPAs should ensure that they are educated and competent in the skills needed to render trustee services before attempting to offer them. 

  • To Conduct a More Effective Meeting, Focus on the Planning

    By:
    Jason Wong and Chris Gaetano
    |
    Aug 11, 2015

    Meetings fill an increasing number of hours in the workday, but for many professionals, they aren’t always worth the effort: In a recent survey of 2,066 employees conducted by Harris Interactive, respondents said they spent 4.5 hours a week in general status meetings, up from 4 hours a week when the poll was conducted four years ago. More telling, though, is that over one-third of respondents called these mandatory powwows a waste of time, with three in five staffers admitting that they tune out or do other work during meetings.