Latest Articles

  • Amazon Hit With 250M Euro Tax Bill

    By:
    Chris Gaetano
    |
    Oct 4, 2017
    The European Union said that gigantic Internet retailer Amazon owes 250 million euros, approximately $293 million, because it benefited from a tax agreement with Luxembourg that was later found to be illegal. 
  • Report Finds Accounting Student Enrollment Remains at All-Time High

    By:
    Chris Gaetano
    |
    Oct 4, 2017
    Total number of enrollments in accounting programs at the bachelor's and master's level has remained at record-highs, while most firms expect they will hire the same number or more recent accounting graduates in 2017, according to the AICPA's newest Trends in the Supply of Accounting Graduates and Demand for Public Accounting Recruits report. 
  • Treasury Dept. Outlines Regulatory Rollbacks

    By:
    Chris Gaetano
    |
    Oct 4, 2017
    The U.S. Treasury Department released a report detailing regulatory rollbacks and revisions aimed at reducing what it says are the burdens of tax regulation. 
  • CPAs Expect Audits to Come with Bigger Price Tags under New PCAOB Rule

    By:
    Chris Gaetano
    |
    Oct 3, 2017

    More time, more risk and more expense—this is what auditors expect will be the effect of a recent Public Company Accounting Oversight Board (PCAOB) measure expanding the standard auditor’s report. Under the rule, formally approved by the board on June 1, the standard auditor’s report will include, among other things, the communication of “critical audit matters (CAM),” or information that the PCAOB believes investors and other users would find relevant.

  • SEC Chief Outlines Cybersecurity Steps in Wake of EDGAR Hack

    By:
    Chris Gaetano
    |
    Oct 3, 2017
    SEC Chair Jay Clayton outlined what the commission plans to do in the wake of a recent data breach that allowed hackers to potentially access market-moving information in the EDGAR system. 
  • Microsoft to Release New Version of Excel With More Features

    By:
    Chris Gaetano
    |
    Oct 3, 2017
    Microsoft announced that it plans to release a new version of Microsoft Excel, with more features that could make life just a little bit easier for accountants. 
  • Regulatory Roundup: Sept. 27-Oct. 3

    By:
    Chris Gaetano
    |
    Oct 3, 2017
    With so many regulators out there, it can be tough to keep track of all the decisions being made. This is the NYSSCPA’s regular series that collects relevant regulatory announcements from the past week, and puts them in one place to help you stay on top of the issues.
  • IRS Awards Equifax a $7.2 Million Fraud Prevention Contract

    By:
    Chris Gaetano
    |
    Oct 3, 2017
    In an irony of Sophoclean proportions, the IRS has awarded a $7.2 million fraud prevention contract to credit rating agency Equifax, which recently made headlines when it announced a massive data breach that affected potentially 44 percent of the U.S. population. 
  • Society Weighs in on IASB Disclosure Initiative

    By:
    Chris Gaetano
    |
    Oct 2, 2017
    The NYSSCPA advised the International Accounting Standards Board (IASB) to set clear requirements and avoid confusion with regards to the board's Principles of Disclosure initiative, which aims to improve disclosure quality for companies using IFRS. 
  • Study: Your Family Member Probably Won't Pay Back the Money You Lent Them

    By:
    Chris Gaetano
    |
    Oct 2, 2017
    While many no doubt have already learned this the hard way, a recent study has found that if you lend money to a family member, it is unlikely that you will get all of that money back.