Latest Articles

  • Regulatory Roundup: Sept. 6-12

    By:
    Chris Gaetano
    |
    Sep 12, 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.
     
  • Study: 47 Percent of Newly-Created Data Records Have Critical Errors

    By:
    Chris Gaetano
    |
    Sep 11, 2017
    While much is said on how data analytics can provide new insights and solutions for business, a recent study has found that the quality of the data being analyzed leaves much to be desired, as 47 percent of studied samples have critical errors and only 3 percent would pass even the loosest of quality standards. 
  • Study: Internal Controls Weakness Associated With Increased Risk of Accounting Fraud

    By:
    Chris Gaetano
    |
    Sep 11, 2017
    A study published by the American Accounting Association has found that there is a strong association between material weaknesses in internal controls and future fraud revelation. 
  • Equifax Hacked, Personal Information of 143 Million Exposed

    By:
    Chris Gaetano
    |
    Sep 8, 2017
    Credit reporting agency Equifax said that hackers were able to access the personal information of 143 million U.S. consumers, which includes names, Social Security numbers, birth dates, addresses and, in some instances, driver's license numbers. This is approximately 44 percent of the total U.S. population of 323 million. 
  • PwC: Companies Lose Productivity When Employees Financially Stressed

    By:
    Chris Gaetano
    |
    Sep 8, 2017
    A recent report from PwC has found that nearly one-third of all employees are distracted by personal financial issues while at work, with almost half of them spending three hours or more each week handling personal finances at work.
  • Deutsche Bank CEO: Accountants That Spend a Lot of Time "Being an Abacus" Will Likely Be Replaced by Robots

    By:
    Chris Gaetano
    |
    Sep 7, 2017
    John Cryan, the CEO of Deutsche Bank, didn't mince words at a recent Frankfurt conference, saying that a big number of his staff will be replaced with machines over the coming years, and called out accountants in particular as a likely casualty of this shift. 
  • Tax Preparer Stole Over $1M From Clients

    By:
    Chris Gaetano
    |
    Sep 7, 2017
    The Securities and Exchange Commission has filed a complaint against a NJ-based tax preparer and investment adviser for stealing more than $1 million from clients in order to support his gambling habit and other personal expenses. 
  • SEC Chief Says Regulators Must Do More on Cybersecurity

    By:
    Chris Gaetano
    |
    Sep 6, 2017
    SEC Chair Jay Clayton said that cybersecurity will be one of his top enforcement issues this year, believing that regulators are not doing enough to protect investors, particularly smaller ones, from systemic and substantial risks.  
  • Craig Carton, WFAN Host, Arrested for Investment Fraud

    By:
    Chris Gaetano
    |
    Sep 6, 2017
    Craig Carton, co-host of the WFAN sports talk show Boomer and Carton, has been arrested on a number of investment fraud-related charges. 
  • Robert Jackson, Columbia Law Professor, Nominated to Fill Empty SEC Seat

    By:
    Chris Gaetano
    |
    Sep 5, 2017
    The administration has nominated Robert Jackson Junior, a Columbia Law professor, to fill in a currently-vacant seat on the Securities and Exchange Commission.