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Sharon Sabba Fierstein Elected NYSSCPA President

FOR IMMEDIATE RELEASE

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

NEW YORK, NY, May 15, 2008 – The New York State Society of Certified Public Accountants (NYSSCPA) installed Sharon Sabba Fierstein, CPA of Woodbury as President at its 111th Annual Election Meeting and Dinner held today at the New York Hilton Hotel.

In her role as President, Ms. Fierstein will lead the nearly 30,000 member organization in its educational, advocacy, and recruitment pursuits. She will visit all sixteen chapters throughout the state, as well as meet with legislators and representatives of the State Education Department and the State Board of Accountancy to further the goals of the Society, particularly with respect to accountancy reform within New York.

As a partner in the Litigation and Corporate Financial Advisory Services Group at Marks Paneth & Shron LLP (MP&S), a leading, New York region professional services firm, Sharon Sabba Fierstein leads the firm’s efforts in consulting and litigation services relating to mortgage banking (including subprime), conventional lending institutions and regulatory agencies. Ms. Fierstein also manages the day-to-day operations of the MP&S Litigation and Corporate Financial Advisory Services Group.

Currently serving as chair of the NYSSCPA’s Quality Enhancement Policy Committee (QEPC), Ms. Fierstein has emphasized elevating the public’s expectations of the CPA professional. Through QEPC, the Society is advocating enhanced standards for peer review (a process whereby one firm attests to the quality controls of another), ethics, and education processes before certification to meet challenges of the CPA profession in an increasingly complex financial world. Under Ms. Fierstein’s guidance, the committee recently completed a whitepaper on Pre-Certification Education in anticipation of New York State’s move in August 2009 from 120 hours to a 150 hour education requirement to sit for the CPA exam as part of the licensing requirement to enter the profession. The paper conceptually defines the additional 30 hours by calling for the development of critical thinking skills through completion of a graduate degree. The committee’s previous whitepapers have addressed peer review and ethics.

“Ultimately, it is the consumers of CPA services who dictate the level of quality that is expected of CPAs,” says Sharon Sabba Fierstein. “The public demands and deserves CPA professionals who understand the complexities of accounting, auditing and tax, as well as the basic concepts underlying general business, ethics and corporate management. It is critical that CPAs posses a well-versed knowledge of both the technical and conceptual issues faced by practicing CPAs today, as well as the skills needed to communicate these issues effectively.”

Other committees previously chaired by Ms. Fierstein include: Finance, Interactive Online Resource, Advancement of Women in the Accounting Profession and Committee Operations. A member since 1985, she has served as a member of its Board of Directors and Executive Committee as well as Vice President and Secretary.

Ms. Fierstein holds a Master of Business Administration degree from New York University and a Bachelor of Arts degree from Wesleyan University in Middletown, Connecticut.

About the NYSSCPA

Representing 29,000 CPAs, the New York State Society of Certified Public Accountants (NYSSCPA) is the oldest 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.