Contact:
Lois Whitehead, Public Relations Manager
212-719-8405
lwhithead@nysscpa.org

NEW YORK, NY, April 3, 2006 – The New York State Society of Certified Public Accountants (NYSSCPA) has announced the 2006 winners of its Excellence in Financial Journalism Awards. The awards recognize the work of print, broadcast, wire and electronic media reporters who contribute to a better understanding of business topics. Winners will be presented with their awards at a luncheon at the Yale Club on May 2nd.

Winners selected were:

Accounting:

Bureau of National Affairs (BNA) Daily Tax Report, Steve Burkholder, “SEC Overrides FASB, Delays Implementation of New Rules Requiring Expensing of Options” This reports on action taken by the Securities and Exchange Commission with regard to a new accounting standard on the expensing of stock options.

Business/Financial:

Print – Under 1,500 words

Research Magazine, Alexei Bayer, “Global Economy”
Five columns to encourage financial professionals to think more broadly about issues in international investing.

Print – 1,500 words or more

Business Week, Nanette Byrnes and Christopher Palmeri, “Sinkhole!”
A description and analysis of the looming fiscal disaster in public pension plans.

General Audience:

Print – Under 1,500 words

Newsweek, Keith Naughton, “Series on the Auto Industry”
A chronicle of the big American automakers’ decline while spotlighting new technologies, business strategies and leaders that could save them.

Print – 1,500 words or more

Legal Affairs Magazine, David Skeel, “Behind the Hedge”
An exploration of the, unregulated world of hedge funds to help explain why the funds have the potential to devastate the market and millions of ordinary investors and to evaluate possible reforms.

Wire Service:

Bloomberg, “Public Finance, Private Deals”, Martin Z. Braun, Darrell Preston, Liz Willen, David Dietz, Eddie Baeb, William Selway, Michael Marois, Andrew Pratt
An investigative report on Wall Street banks routinely deceiving public officials and overcharging taxpayers in the United States by hundreds of millions of dollars in selling municipal bonds to pay for necessities such as schools, hospital and sewers.

Columns:

All Business Columns – The Associated Press, Rachel Beck
A twice-weekly business column covering major business topics of the day with accounting issues as a major component.

Electronic Media:

Newsweek, Karen Springen, “Building the Perfect Pizzeria”
A four-part series that profiles a $9 million restaurant business in suburban Chicago.

Television:

NBR Enterprises/WPBT2 Miami (DC Bureau) – Darren Gersh, Ervin Steve Washington, “The Social Security Trust Fund: Is It Real?”
A national news segment on how the Social Security Trust Fund works and whether it is really facing insolvency.

About the NYSSCPA

Representing 30,000 CPAs, the New York State Society of Certified Public Accountants (NYSSCPA) is the oldest and largest state accounting organization in the nation. Incorporated in 1897, the Society is a not-for-profit organization that seeks to establish and maintain high standards of integrity, honor, and character among certified public accountants. Its members are CPAs working in public practice, industry, government and education in a state that serves as the home of Wall Street and major financial institutions.

The New York State Society of CPAs is located at 3 Park Avenue, New York, NY 10016. To learn more about the Society call 800-633-6320 or visit the Society’s website at www.nysscpa.org.