Latest Articles

  • GASB Issues Lease Standard

    By:
    Chris Gaetano
    |
    Jun 29, 2017
    The Government Accounting Standards Board (GASB) issued guidance that establishes a single approach to accounting for and reporting leases by state and local governments. This single approach is based on the principle that leases are financings of the right to use an underlying asset.
  • Taxpayer Advocate: IRS Service Improved in Some Areas, Worsened in Others

    By:
    Chris Gaetano
    |
    Jun 29, 2017
    Taxpayer Advocate Nina E. Olson, in her mid-year report to Congress, said that taxpayer service slightly improved in accounts management, but got remarkably worse in compliance. 
  • Nominating Committee seeks members for 2018

    By:
    Anthony T. Abboud
    |
    Jun 28, 2017

    Are you interested in helping to select who will serve on next year’s NYSSCPA Board of Directors? If so, consider serving on the Society’s Nominating Committee. 

  • New Wave of Ransomware Rampages Through Internet

    By:
    Chris Gaetano
    |
    Jun 28, 2017
    Businesses across the world have been hit with a massive cyberattack that locks down victims' systems and demands $300 in Bitcoin, wrecking havoc and disrupting operations across many different industries. 
  • SEC: Oil Company Improperly Moved Hundreds of Millions from Operating to Capital Expenditure Accounts

    By:
    Chris Gaetano
    |
    Jun 28, 2017
    The Securities and Exchange Commission charged a Canadian oil company and three of its former top finance executives with perpetuating a massive accounting fraud over the course of several years. 
  • In an NYSSCPA State of Mind at the Moynihan Fund Gala

    By:
    Ruth Singleton
    |
    Jun 27, 2017
    Some of the biggest names in the accounting world came out for the second annual Moynihan Fund Gala on May 17 at The Lighthouse at Chelsea Piers to support scholarship, diversity and recruitment programs throughout New York state. The event raised nearly $200,000 for the Moynihan Scholarship Fund. Members of Billy Joel’s own band, performing as Mike DelGuidice & Big Shot, played the music legend’s greatest hits.
  • Regulatory Roundup: June 21-27

    By:
    Ruth Singleton and Zach Simeone
    |
    Jun 27, 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.
  • Latest Phishing Scam Poses as Questions from Tax Software Education Provider

    By:
    Chris Gaetano
    |
    Jun 26, 2017
    The IRS is asking tax preparers to be on the lookout for a new phishing scam that claims to come from a tax software education provider and asks for an unusually large amount of personal information. 
  • Deloitte Values Great Barrier Reef at $42 Billion

    By:
    Chris Gaetano
    |
    Jun 26, 2017
    Deloitte Australia, in partnership with the Great Barrier Reef Foundation, issued a recent report that valued the Great Barrier Reef at $52 billion ($42 billion in U.S. dollars). 
  • TIGTA: IRS Missed More Than 500,000 Employment Identity Theft Victims

    By:
    Chris Gaetano
    |
    Jun 23, 2017
    The Treasury Inspector General for Tax Administration (TIGTA) said that employment identity theft is a much more widespread problem than initially thought, as the IRS did not identify more than 500,000 victims, even though identity thieves electronically filed tax returns with evidence that they used the victims’ Social Security Numbers (SSN) to gain employment.