Latest Articles

  • 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. 
  • SEC Busts $3.3 Billion Accounting Fraud

    By:
    Chris Gaetano
    |
    Mar 6, 2017
    The Securities and Exchange Commission has announced that Desarrolladora Homex S.A.B. de C.V., a Mexico-based home building company, has agreed to settle charges relating to a $3.3 billion accounting fraud. 
  • TIGTA: Thousands Received ACA Premium Tax Credit Without Verifying Eligibility

    By:
    Chris Gaetano
    |
    Mar 6, 2017
    The Treasury Inspector General for Tax Administration said that in 2014 alone over 35,000 individuals benefited from premium tax credits through  Affordable Care Act without any verification as to whether or not they were eligible for the program. 
  • Study: CEOs Need to Get Out of the Good News Bubble

    By:
    Chris Gaetano
    |
    Mar 3, 2017
    Interviews with over 200 business leaders has found an almost universal issue among them: once you're CEO, no one wants to tell you anything bad, or even anything that could potentially be perceived as bad, meaning that leaders are often isolated from the goings on within their own companies. The best CEOs, according to the MIT study, are those who can pierce this shell and get the information they need. 
  • PwC Partners Responsible for Oscars Snafu Won't Be Invited Back

    By:
    Chris Gaetano
    |
    Mar 2, 2017
    Martha Ruiz and Brian Cullinan, the two PwC partners responsible for the recent Oscars mix-up that led to the wrong film being announced as winning the Best Picture award, will no longer be on the team responsible for ensuring the integrity of the process.