President-Elect Testifies on Tax Complexity
NYSSCPA President-Elect P. Gerard Sokolski testified on tax complexity before the Subcommittee on Oversight of the U.S. House of Representatives Ways and Means Committee on May 25. (Article)

Society Leaders Meet to Discuss Accountancy Bill
In an unprecedented NYSSCPA meeting, then President George T. Foundotos and then President-Elect Alan E. Weiner conducted an open discussion with chapter presidents and other leaders to clarify issues raised by bill S. 4402 (subsequently introduced in the Assembly as A. 8600). The experience requirement changes put into effect by the bill were the main concern among participants. (Article)

President's Commentary
Accounting is a great profession! Accounting used to mean debits and credits, financial statements and tax returns. (Article)

Weiner Launches Fiscal-Year Reform Initiative
NYSSCPA President Alan Weiner recently launched an initiative to re-energize the fiscal-year reform effort. Beginning with correspondence to state CPA society presidents asking them to make fiscal-year reform an important part of their agendas, Weiner then requested that Society committee chairs and chapter presidents do the same. (Article)

Executive Committee Recognizes AICPA's "Substantial Progress"
The NYSSCPA Executive Committee voted at its April 21 meeting to recognize that the AICPA was making "substantial progress" in revising its standard-setting process to include engagement-based standards. This Executive Committee finding resulted from a request by the board of directors to establish the Society's final lobbying stance on the issue of "internal use only" financial statements and other CPA services. (Article)

Former Chapter President Named Tax Commissioner
Governor George E. Pataki nominated Arthur J. Roth, former NYSSCPA Northeast Chapter president, as commissioner of the Department of Taxation and Finance on May 12. Last year, Roth received the NYSSCPA Outstanding Certified Public Accountant in Government award. He also is a former member of the Society's board of directors. (Article)

IRS Forms Local Advocacy Group
The IRS recently unveiled an 11-member citizen advocacy panel (CAP) for the Brooklyn District. The independent panel's goal is to respond to taxpayers' needs by identifying problems and making recommendations for improvement of local IRS systems and procedures. (Article)

National Accreditation Commission to Consider New Specializations
The AICPA's National Accreditation Commission (NAC) is charged with providing a means for identifying, recognizing, advocating, and supporting new areas of specialization that warrant an accreditation program. Formed last year as a result of the AICPA Council's approval of the Special Committee on Accreditation of Specialization's report, it is composed of seven members from all segments of the profession and reports to the AICPA board of directors. (Article)

Alan Weiner Begins Term as Society President
Alan E. Weiner, NYSSCPA president for 1999­2000, plans to bring more CPAs into the Society, listen to member comments and suggestions, work with the chapters, advocate legislation to reduce or eliminate workload compression, help members prepare for the changes that affect the profession, and have fun. In an interview with The Trusted Professional, Weiner acknowledged that this sounds like a mouthful, but indicated that all tax professionals are multitask-oriented. (Article)

NYSSCPA Leaders Take Office
(Article)

Hevesi Addresses Bankers Luncheon
New York City Comptroller Alan G. Hevesi recently addressed CPAs and bankers regarding the economic state of the city at a luncheon sponsored by the NYSSCPA Cooperation with Bankers and Other Credit Grantors Committee. He said that the city's economy has exceeded expectations in the past five years, but warned that this time of economic prosperity will be short-lived if obvious precautions are not taken. (Article)

Congressman Lazio Speaks to Long Island CPAs
Congressman Rick A. Lazio (R) spoke about the federal government's responsibility to "incentivize" risk takers and entrepreneurs to keep the economy moving before more than 300 Long Island CPAs and bankers at a joint meeting of the Nassau and Suffolk chapters on April 26. (Article)

Annual Election Meeting and Dinner
New York State Board of Regents Chancellor Carl T. Hayden delivered the keynote address for the NYSSCPA Annual Election Meeting and Dinner, at which the Society presented its annual awards and elected its 1999­2000 officers. (Article)

Y2K: What Really Causes the Problem?
There are two common Year 2000, or Y2K, problems that members of the computer industry frequently need to repair: two-digit date storage and leap year calculation. (Article)

FAE Adds Computer Training CPE
The Foundation for Accounting Education now offers computer courses developed by Micropower Business Inc. and Core Consulting Service LLC as part of its CPE schedule. These additions are in response to FAE's Technology Curriculum Task Force, and will address CPAs' specific needs. Scott Lobel, an Advisory Council member, is the instructor of these programs. (Article)

Website Offers "Sound Advice"
Sound Advice, a new section on nysscpa.org, recently made its online debut. Accessible as a drop-down menu from the Society's home page, Sound Advice provides personal finance information with tools like worksheets, quizzes, and templates. Worksheets offered cover topics such as income and expense, asset inventory, and sample business plans. (Article)

Website FAQs
(Article)

Winters Keynotes Estate Planners Day
At the annual Estate Planners Day H. Vernon Winters, chief investment officer of Mellon Private Asset Management, lectured about the current investment environment and the future outlook for stocks and bonds. (Article)

Members Attend AICPA Spring Conference and Congressional Reception
(Article)

Members in the News
(Article)

Northeast Chapter Young CPAs
Northeast Chapter Young CPAs Committee members spoke to School of Business students at SUNY Albany about the accounting profession on April 20. From left: Beth Van Bladel, Christine Paul, Mike Raymond, and Jill Foulds. (Article)

CPA Candidates
CPA Candidate Christine McWilliams (right) hands out Society information to exam takers. The Buffalo Chapter's Young CPAs and CPA Candidates provided coffee and doughnuts to CPA exam takers in May to increase NYSSCPA awareness. Many exam takers joined the Buffalo Chapter CPA Candidates and signed up for the CPA Candidates Investment Dinner that took place May 12. Buffalo Chapter President Ray Nowicki helped distribute Society information. (Article)

Movers and Shakers
CPA Spotlight - Diane Womack (Article)

Leadership Academy Visits Albany Lawmakers
The NYSSCPA Leadership Academy met with members from each branch of New York state government to learn about what they do and how they work with each other on May 19. (Article)

Career Day Draws Seventy-five Students
Seventy-five New York City high school students participated in an annual career day sponsored by the NYSSCPA Recruitment for CPA Careers Committee on April 30. Presenters explained the diverse fields available in the accounting profession, how they first became interested in accounting, and how they reached their goals. (Article)

Get Involved with CPA Candidates
The Northeast Chapter's Young CPAs Committee is starting a CPA Candidates Association chapter. Members are needed to help attract and involve students and potential CPAs from the academically rich Capital District and beyond. (Article)

Ethics and Regulations Q & As
(Article)

FAE's August Conferences Cover Diverse Specialties
The Foundation for Accounting Education's August conferences feature programs in a variety of specialized industries, as well as tax planning for individuals and businesses. (Article)

American Accounting Association Discusses New Regulation Issues
Accounting educators received a comprehensive review of new developments in accounting regulation at the American Accounting Association's northeast regional meeting at the University of Rochester. In a session sponsored by the NYSSCPA and the Administrators of Accounting Programs, Fong Chan, NYSSCPA director of governmental affairs, Virgil Webb, AICPA associate counsel, and Michael Gary Hilf, State Education Department deputy director of prosecutions, discussed the accountancy reform movement gaining momentum throughout the country. (Article)

Small Companies Commit Most Financial Fraud
A recently released study found that small corporations--those with assets below $100 million--committed most of the fraud in financial reporting among public companies. (Article)

Task Force Reviews Derivatives Regulations for Insurance Companies
An NYSSCPA task force recently issued a comment letter to the New York State Department of Insurance on draft regulations for insurance companies seeking to take advantage of new legislation that gives them greater authority to invest in derivatives. (Article)

Salomon Chairs Individual Tax Planning Conferences
Alex Salomon, managing partner of Salomon & Co., CPAs PC, will chair FAE's Strategic Planning for Your High-Net-Worth Clients Conference on July 29 and co-chair the Tax Planning for Individuals Conference on August 24. (Article)

Career Opportunities in Government
This month's issue continues the focus on careers at federal government agencies and offers advice for CPA candidates interested in pursuing jobs at the Federal Bureau of Investigation, the U.S. Secret Service, and the U.S. Customs Service. (Article)

FAE Offers Convenient CPE Through Self-Study
If top quality and flexibility are what you're after, you've found them! FAE and Surgent & Associates provide you with first-rate self-study CPE that's up-to-the-minute, flexible, and simply perfect for the busy financial professional. (Article)