Latest Articles

  • Equifax Page Taken Down After Found to Be Running Malware

    By:
    Chris Gaetano
    |
    Oct 13, 2017
    Recent visitors to the Equifax web site may have found themselves face to face with a shady popup telling them that they should update Adobe Flash, a well-known vector for malware that later investigation found was due to a third party website infected with malicious code. 
  • Study: Men Given Testosterone Generate Price Bubbles, Overvalue Assets More Than Those With Placebo

    By:
    Chris Gaetano
    |
    Oct 12, 2017
    A recent study that gave some men testosterone and others a placebo found that, when buying and selling financial assets to earn real money, those who got the hormone were more likely to generate price bubbles and overvalue assets than those who got the placebo. 
  • SEC Proposes Disclosure Simplification Rules as Part of FAST Act

    By:
    Chris Gaetano
    |
    Oct 12, 2017
    The Securities and Exchange Commission has released draft rules that aim to simplify public company disclosures as mandated in the FAST Act, a transportation funding bill that also contained securities law-related measures. 
  • Study: Swiss Sewers Flush $2 Million Worth of Gold Annually

    By:
    Chris Gaetano
    |
    Oct 11, 2017
    A recent study has found that about 95 pounds of gold, $2 million worth at current prices, is flushed through the Swiss sewage system every year. 
  • NYS Peer Review Bill Sent to Governor

    By:
    Chris Gaetano and Ruth Singleton
    |
    Oct 11, 2017
    Legislation that would mandate peer review for all CPA firms in the state that do attest work, has today gone to the governor for final approval. Affected firms will have 18 months to have a completed peer review.
  • FASB Makes Long-Awaited Nonprofit Proposal

    By:
    Chris Gaetano
    |
    Oct 10, 2017

    The question of whether a transaction should count as an exchange or a contribution—and whether a contribution is conditional or unconditional—is one that has long challenged not-for-profit accountants, with no real consensus as to the proper treatment. A new proposed accounting standards update, issued on Aug. 3 by the Financial Accounting Standards Board (FASB), aims to end this ambiguity by providing a consistent methodology. While it’s relevant mainly for nonprofits, if approved, it would apply to every entity that receives or makes contributions of cash and other assets. 

  • Report: Women's Advancement in Workplace Losing Ground in Some Areas

    By:
    Chris Gaetano
    |
    Oct 10, 2017
    A study looking at 222 companies employing more than 12 million people, which included more than 70,000 individual surveys and a smaller number of in-person interviews, found that women's advancement in the workplace has either stalled or, in some areas, actually lost ground in 2017. 
  • Guardian: Deloitte Hack Hit Server Containing Emails From Across US Government

    By:
    Chris Gaetano
    |
    Oct 10, 2017
    The recent data breach of Big Four firm Deloitte may have been, upon further investigation, bigger than originally thought. While initially believed to have only impacted six clients, sources with knowledge of the hack told the Guardian they believed that this number is closer to 350, which includes four US government departments, the United Nations and some of the world’s biggest multinationals.
  • Regulatory Roundup: Oct. 4-10

    By:
    Chris Gaetano
    |
    Oct 10, 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.
  • PCAOB Releases Revenue Recognition Guidance for Auditors

    By:
    Chris Gaetano
    |
    Oct 6, 2017
    The Public Company Accounting Oversight Board (PCAOB) has released staff guidance for how auditors can deal with the new revenue recognition standards.