Latest Articles

  • Uber Agrees to Regular Privacy Audits, Adds Business Tools for Companies

    By:
    Chris Gaetano
    |
    Aug 16, 2017
    Controversial ride-sharing company Uber has agreed to regular privacy audits as part of a settlement with the Federal Trade Commission over what it said was a failure to protect the personal information of both its drivers and customers. It also, as a separate matter, has added new billing, expense and reporting tools for companies that use the service for business purposes. 
  • SEC Hits KPMG with $6.2 Million Fine for Audit Failures

    By:
    Chris Gaetano
    |
    Aug 15, 2017
    The Securities and Exchange Commission has leveled a $6.2 million fine against Big Four firm KPMG over failure to properly audit an oil and gas company, which gave investors a false impression as to its worth. 
  • Arthur J. Roth, Former NY Tax Commissioner, NYSSCPA Board Member, Dies at 77

    By:
    Chris Gaetano
    |
    Aug 15, 2017
    Arthur J. Roth, a former NYSSCPA board member, died suddenly August 6 in West Palm Beach, Florida. 
  • Regulatory Roundup: Aug. 9-15

    By:
    Chris Gaetano
    |
    Aug 15, 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.
  • Bill Would Require Small Firms with Attest Clients to Undergo Peer Review

    By:
    Ruth Singleton
    |
    Aug 15, 2017

    A bill (S6026A/A7895A) that would require mandatory peer review for all CPA firms in New York state that do attest work was passed in the Senate and Assembly in June and now requires only Gov. Andrew Cuomo’s signature to become law.  The Society advocated for passage of the act, which eliminates an exemption from mandatory peer review for firms with two or fewer CPAs, in order to protect the public interest by ensuring best practices among all CPA firms that perform audits. 

  • Technology creates promise, but can firms keep up?

    By:
    Chris Gaetano
    |
    Aug 15, 2017
    The accounting profession is undergoing a period of major change, with technology serving as one of the main drivers, both in terms of what clients demand and what CPA firms can deliver. But while innovations like cognitive computing and blockchain technology promise a world of new opportunities, they also raise questions about how firms will adjust to a landscape where common business practices are becoming obsolete.
  • NYSSCPA Board Seeks to Fill 2 Remaining Nominating Committee Seats by Appointment

    By:
    Anthony T. Abboud, NYSSCPA Secretary/Treasurer
    |
    Aug 15, 2017
    The official Nominating Committee petition period ended on Friday, Aug. 11, but there are still two open spaces. The NYSSCPA Board is ready to step in to fill these spots, but it’s still asking for interested members to step up and join this important committee.
  • Study: Mandatory Vacation Works Best for Employees

    By:
    Chris Gaetano
    |
    Aug 14, 2017
    A recent study has found that the best way for companies to help their workers get the most out of their vacations is to make them mandatory. 
  • James Doty to Remain as PCAOB Chair Until Replacement Appointed

    By:
    Chris Gaetano
    |
    Aug 14, 2017
    The Public Company Accounting Oversight Board (PCAOB) announced that it will be keeping its chair, James Doty, until a replacement is appointed, though his term technically ended in 2015. 
  • Yet Another Wells Fargo Scandal: Small Businesses Claim Overbilling for Credit Transactions

    By:
    Chris Gaetano
    |
    Aug 11, 2017
    Troubled bank Wells Fargo has racked up yet another scandal: small businesses are suing the financial institution over claims that it used deceptive language to overcharge them for processing credit card transactions, and when they tried to leave the agreement, they were charged exorbitant fees.