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| January 2005 | The
Monthly Newspaper of the NYSSCPA |
Vol.
8, No.1 |
Committee Close Up
Banking
The Banking Committee, chaired by Wendy Grant Mungroo, held a CPE presentation titled “An Overview for the Basel II Framework” at its Dec. 2 meeting. All Society members who work in the banking industry or in private practice auditing or providing services to the banking industry were invited to attend. Topics discussed by speaker J. Robert Hitchings, of JP Morgan Chase, included operational risk, organizing plans to comply with the new capital adequacy framework for banking organizations, and an overview of the impact of Basel II.
Government Accounting and Auditing
The Government Accounting and Auditing Committee, chaired by David J. Hasso, held a CPE session on fraud detection and SAS 99 in the government and not-for-profit arena at its Nov. 12 meeting. Christopher J. Rosetti, CPA, of BST Valuation and Litigation Advisors, spoke on fraud detection tools for auditors complying with SAS 99, fraud statistics, digital analysis and vendor analysis.
Small Firm Practice Management
The Small Firm Practice Management Committee, chaired by Edwin J. Kliegman, featured a presentation titled “Conducting Reductions in Work Force While Minimizing the Risk of Litigation” at its Dec. 1 meeting. Penny Ann Lieberman, Esq., a partner with Jackson Lewis, LLP, a national law firm that represents management in all aspects of workplace law, delivered the presentation.
Members learned about various options available to themselves and their clients in the event that workforce reduction is considered as a cost-cutting measure. Lieberman also spoke of critical issues to be addressed during a workforce reduction. These issues included proper planning, adequate documentation, adherence to federal and state statutes, and communication with and management of employees. The presentation generated several interesting and informative discussions.
The meeting also focused on the status of the committee’s continuity of practice project. Following the meeting, members received a tour of the Society’s new offices at 3 Park Ave.
Taxation of Financial Institutions and Products
On Nov. 11, at its monthly meeting ,the Taxation of Financial Institutions and Products Committee, chaired by Steven C. Kaplan, held a CPE session on tax-savvy investing. Speaker Judah Mandelbaum, vice president of Bernstein Investment Research and Management, delivered a presentation geared toward tax professionals advising investors in liquid securities portfolios. His speech covered trading strategies, rational trade-offs, and the features and benefits of tax-aware investing.
Editor’s Note: New York State Society of CPAs’ committees are active in many areas. Here is a glimpse at some of the latest events and developments from some of the Society’s 60-plus committees. If you would like to contribute to the column, feel free to contact Ernie Markezin, NYSSCPA director of committee services, at ejmarkezin@nyssscpa.org, or Nellie Gomez, NYSSCPA manager of committee services, at ngomez@nysscpa.org.
