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Journalists Receive Awards From NYSSCPA for Financial Reporting

FOR IMMEDIATE RELEASE

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

NEW YORK, NY, April 15, 2008 – The New York State Society of Certified Public Accountants has announced winners for its Excellence in Financial Journalism Awards that recognize reporters from the national and local press who contribute to a better understanding of business topics. Twelve judges, representing the NYSSCPA and the New York Financial Writers Association, selected winners. Journalists will be presented with their awards at a luncheon at the Yale Club on May 1st.

Print - Accounting:

Over 1,500 Words, Magazine:
John Morrow, Joan Pastor, The Journal of Accountancy, “Eight Habits of Highly Effective Audit Committees,” offers practical guidance to help audit committees meet their responsibility for overseeing public companies’ accounting financial reporting, internal controls and audits.

Print - Business Financial:

Under 1,500 Words, Magazine:
Alexei Bayer, Research
, series of global economy columns

Under 1,500 Words, Newspaper:
Andrew Osterland, Crain Communications: Financial Week
, “Banks in the Frying Pan,” examines how bad the credit crisis will get for the nation’s biggest banks.

Over 1,500 Words, Magazine:
Allan Sloan, Fortune
, “House of Junk,” how one deal -- GSAMP (Goldman Sachs Alternative Mortgage Products) Trust 2006-S3 -- shows how subprime mortgages went bad.

Over 1,500 Words, Newspaper:
Krishna Guha and FT Team, The Financial Times
, “The Federal Reserve and Credit Market,” explores the unfolding credit crisis and its implications for the wider economy.

Print - General Audience:

Under 1,500 Words – Magazine:
Keith Naughton, Newsweek, “A Case of Prius Envy,” how Honda is overhauling its entire hybrid strategy and “Excuse Me, Mr. Ford,” how the Ford/Mulally executive arrangement worked.

Over 1,500 Words – Magazine:
Stephen Gandel and Amanda Gengler with Paul Keegan, Money
, “Scenes from a Bubble,” how controls had broken down and risks were rising in the nation’s home finance industry.

Over 1,500 Words – Newspaper:
Byron Acohido and Jon Swartz, USA Today
, “Who’s Controlling Your Data?,” an investigative work on data theft and internet-enabled financial scams.

Electronic Media:

Business/Financial:
Jonathan Weil, Bloomberg News
, “Adding Up the Numbers,” a series of columns on the collapse of the housing market.

General Audience:
Jamie Reno and Sarah Kliff, Newsweek
, “The Strangers in Our Parents’ Homes,” an investigation of the fast-growing home-based health care industry.

Wire Service:

Accounting:
Steven D. Jones, Dow Jones
, “Shedding New Light on a Much-Covered Credit Crisis,” a series of articles analyzing the subprime meltdown and credit crisis.

Business/Financial:
David Evans and Richard Tomlinson, Bloomberg News
, “Toxic Debt,” how money market funds, supposedly among the safest of investments, had secretly purchased some of the mortgage backed securities starting to wreak havoc on Wall Street.

General Audience:
Rachel Beck, Associated Press
, all business columns.

Radio:

Series:
Andrew O’Day, Tracy Johnke, John Wordock, Charlie Turner, Mark Hulbert, Marketwatch Radio Network, “Tales from the Home Front: America and the Housing Slump in 2007,” a series of stories on the housing slump.

Feature:
Carole Zimmer, Bloomberg Radio (WBBR)
, “Breaking the Bank: Campaign Spending 2008,” an examination of why critics say the U.S. is in the midst of a fundraising arms race that threatens our democracy.

Television:

Documentary:

Gary Matsumoto, Bloomberg Television: “Phantom Shares”

Series:

Brian Sullivan, Bloomberg TV, “Subprime Shockwaves”

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, celebrating its 110th anniversary this year.

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.


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