Latest Articles

  • President's Commentary: Support the Next Generation of CPAs at the Moynihan Fund Gala, May 17

    By:
    F. Michael Zovistoski
    |
    Mar 10, 2017
    The Moynihan Fund Gala is named to honor the memory of Past President David J. Moynihan, who devoted much time and energy to expanding opportunities for students who major in accounting. The gala is an annual black tie-optional fund-raiser that supports the Society’s Excellence in Accounting Scholarships and its Career Opportunities in the Accounting Profession (COAP) program, while also providing a fine dining and entertainment experience for a broader group of Society members and the general public. This year, the Moynihan Fund Gala will take place from 5–9 p.m., on Wednesday, May 17. It will be held at The Lighthouse at Chelsea Piers, a stunning event space along the Hudson River in midtown Manhattan. I hope that many of you are making plans to attend the Gala, which promises to be an exciting evening for celebrating the profession and reconnecting with other NYSSCPA members.



  • SEC Charges Marijuana Consulting Company for Phony Revenues from Sham Transactions

    By:
    Chris Gaetano
    |
    Mar 10, 2017
    The Securities and Exchange Commission has charged Medbox, a California-based marijuana consulting company, with falsely touting "record" revenues to investors that, in truth, were mostly bogus. 
  • Security Experts Warn of Gmail Scam That Fools Even Savvy Users

    By:
    Chris Gaetano
    |
    Mar 10, 2017
    Security experts are sounding the alarm of a new scam working its way through Gmail that, unlike its poorly-spelled and shoddily crafted contemporaries, has been able to fool even savvy users. 
  • PwC, MF Global Bankruptcy Admins Point Fingers At Each Other in Firm's Collapse

    By:
    Chris Gaetano
    |
    Mar 9, 2017
    Administrators overseeing the bankruptcy proceedings of failed investment firm MF Global are squaring off in court against Big Four firm PwC in a $3 billion trial over who was to blame for the spectacular collapse of investment firm MF Global, which had been led by former NJ Governor Jon Corzine. 

  • FASB Proposes Extending Scope of Share-Based Compensation Guidance to Non-Employees

    By:
    Chris Gaetano
    |
    Mar 9, 2017
    The Financial Accounting Standards Board (FASB) released an exposure draft that, if implemented, would expand the scope of Topic 718, Compensation—Stock Compensation to include payments to both employees and non-employees, where right now it only includes employees. 
  • New Diversity and Inclusion Committee Aims to Address Representation in the Profession

    By:
    Chris Gaetano
    |
    Mar 8, 2017

    The Society has formed the Diversity and Inclusion Committee, which is aimed at ensuring that the NYSSCPA and profession as a whole are positioned to attract and advance aspiring professionals of all types, regardless of race, gender, sexual orientation, religion, disability status or any other aspect of diversity.

  • Report: NYS Ranks No. 14 in Gender Equality, No. 7 in Female Business Leaders

    By:
    Chris Gaetano
    |
    Mar 8, 2017
    The Bloomberg News Gender Equality Ranking says that, as of now, Vermont is the most gender equal state overall, and Maryland is first in terms of female leaders. New York, meanwhile ranks 14 and 7 respectively. 
  • GOP Unveils Its Obamacare Replacement Bill

    By:
    Chris Gaetano
    |
    Mar 7, 2017
    No individual mandate, higher limits on health savings accounts, a winding down of the Medicaid expansion, and $2000 to $14,000 worth of refundable tax credits: these are some of the features of the new plan that House Republicans aim to put in place of Obamacare. 
  • Two Firms Battle in Court Over Who Gets Arthur Andersen Name

    By:
    Chris Gaetano
    |
    Mar 7, 2017
    A Paris-based firm recently announced that it's formed a new Arthur Andersen accounting network in 16 countries, reviving the company that previously collapsed in the wake of the 2001 Enron scandal. The problem is that former Arthur Andersen partners had done a very similar thing three years ago, forming a firm called Andersen Tax. The two companies are now in the middle of a heated dispute over who is the true heir to the Arthur Andersen name. 
  • Regulatory Roundup: March 1-7

    By:
    Chris Gaetano
    |
    Mar 7, 2017
    With so many regulators out there, it can be tough to keep track of everything they say from week to week. Luckily we here at the Trusted Professional have collected relevant regulatory announcements from this past week and put them here in one place to help you stay on top of regulatory issues or matters.