Latest Articles

  • Regulatory Roundup: Aug. 23-29

    By:
    Chris Gaetano
    |
    Aug 29, 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.
  • AICPA Council Nominations

    By:
    Jan Herringer, NYSSCPA President-elect
    |
    Aug 29, 2017
    In January 2018, the NYSSCPA Board of Directors will submit the names of three individuals to the AICPA’s Nominations Committee, which nominates members for election to the AICPA Council. Those nominees, once duly elected, will each serve three-year terms beginning October 2018 on the 265-person governing council. In addition, one person will be designated by the Society to serve a one-year term as its representative to the council, also beginning October 2018. If you or a colleague you know is interested in serving on the AICPA Council, please e-mail Jan Herringer, the Society’s president-elect and chair of the Board’s Selections Subcommittee.

  • Study: Monthly Sales Quotas Actually Hurt Profits Over Long Term

    By:
    Chris Gaetano
    |
    Aug 28, 2017
    A recent study of 9.8 million sales transactions from 151 U.S. companies over nine consecutive quarters from 2014 to 2016 has found that last-minute rushes to meet sales figures actually costs companies more than initial numbers would imply. 
  • Study: Rate of Elderly Fraud Victims at Least 1 in 18, Possibly Higher

    By:
    Chris Gaetano
    |
    Aug 28, 2017
    While senior citizens experiencing cognitive decline are 33 percent more likely to fall victim to financial fraud and exploitation, even healthy seniors with their cognitive faculties intact are regularly preyed upon, as a recent study has found that as many as 1 in 18 "cognitively intact" individuals have been the victim of some sort of scam― a figure likely too low, as many victims are reluctant to report what happened.
  • TIGTA: IRS Generally Respecting Taxpayer Rights in Imposing Levies

    By:
    Chris Gaetano
    |
    Aug 25, 2017
    The Treasury Inspector General for Tax Administration (TIGTA) found that, for the most part, the IRS was respecting taxpayer rights when it came to imposing levies for delinquent taxes. 
  • Study: Guessing Name From Appearance More Effective Than Previously Thought

    By:
    Chris Gaetano
    |
    Aug 25, 2017
    A recent study has found that sentences like "oh, I knew your name was Gary, you look like a Gary" may have more basis in truth than initially thought. 
  • SEC Faults Municipal Bond Issuer for Failing to Disclose Previous Failures to Disclose

    By:
    Chris Gaetano
    |
    Aug 24, 2017
    The SEC has faulted the Beaumont Financing Authority for regularly failing to disclose required financial information to investors in a series of bond offerings, and then made matters worse when it later failed to disclose these previous failures to disclose, which the SEC said misled investors as to the the likelihood the district would comply with disclosure obligations in the future. 
  • As More Accounts Link to Phone Numbers, Identity Thieves Turn to Hijacking the Numbers Themselves

    By:
    Chris Gaetano
    |
    Aug 24, 2017
    Identity thieves are adapting to an increasingly popular security practice of requiring accounts to be linked to a phone number by tricking carriers into letting them hijack the number itself, allowing them access personally information nearly unimpeded. 
  • Study: Richest of the Rich Tend to be Over 80

    By:
    Chris Gaetano
    |
    Aug 23, 2017
    While there are plenty of young wealthy people, recent IRS data has found that, for the most part, the richest of the rich tend to be people 80 years and older. 
  • Study: Revenue Recognition Standard Could Lead to Volatility in Software Industry

    By:
    Chris Gaetano
    |
    Aug 23, 2017
    A recent study has found that revenue recognition practices particular to the software industry could lead to earnings volatility once the new standards go into effect.