American Express Enters NY Market With a Bang
With the acquisition of the nonattest assets of Goldstein Golub Kessler & Co. P.C. (GGK) in July, American Express Tax and Business Services (TBS) achieves its long sought after entry into the lucrative New York market. GGK also is the largest CPA firm yet to join TBS. (Article)

Regents Pass 150-Hour Curriculum, Effective in 2009
In June, the New York State Board of Regents approved the 150-hour curriculum as a requirement to sit for the CPA examination. The new regulation mandates that candidates sitting for the CPA examination after August 2009 have 150 hours of college credit. (Article)

UAA Can Transform the Profession - Make Your Views Known (Article)

NYSSCPA and FAE News Now in One Publication
With this inaugural issue of The Trusted Professional, the NYSSCPA introduces a newspaper that offers members one source for news on professional, legislative, and regulatory issues; Society benefits and services; and course offerings from the FAE, among other information. (Article)

Executive Committee Approves Society Reorganization
The Executive Committee has approved the restructuring of the NYSSCPA's internal management to position the organization to be more responsive to member needs. Executive Director Louis Grumet submitted the proposal. (Article)

Practice Issues Raised by IRS Restructuring
The legislation restructuring the IRS signed into law by President Clinton in July is not only the biggest overhaul of the IRS in almost 50 years but also raises a number of practice issues for CPAs. The biggest change is the extension of taxpayer confidentiality protection to accountants. (Article)

Tax Privilege, A Mixed Blessing
Nestled in the IRS Restructuring and Reform Act of 1998 signed by President Clinton on July 22, is a brief, 25-line Internal Revenue Code provision that may significantly change the way CPA tax practitioners do business. IRC section 7525, Confidentiality Privileges Relating to Taxpayer Communications, extends the protections afforded by the attorney-client privilege to communications between taxpayers and CPAs, enrolled agents, and enrolled actuaries. (Article)

Members Needed for Key Person Program
To enhance the CPA profession's grassroots network for the 1999 legislative session, particularly as new lawmakers enter office following the November elections, the NYSSCPA needs members to join its Key Person program. (Article)

Profession Defeats Two Bills, Challenges Remain
As the 1997-98 Albany legislative session closed, the accounting profession, represented by the NYSSCPA and its members' grassroots activities, defeated two proposals that would have had detrimental effects to CPAs and the public. (Article)

Looking to Hire? Searching for a Job?
The NYSSCPA now offers a confidential online job posting service and resume referral service in conjunction with Resume-Link and the AICPA. (Article)

Society Website Receives Dow Jones Award
The NYSSCPA website recently received an award as a Dow Jones Business DirectorySM Select Site. The directory is an online listing and review of more than 1,500 business news and information websites. (Article)

Texas Court Drops Charges of Unauthorized Practice of Law
In a big win for the accounting profession, the Supreme Court of Texas' Unauthorized Practice of Law Committee dropped charges that Arthur Andersen LLP engaged in unauthorized practice of law in its tax advisory services to clients. (Article)

Last Chance to Be in Forensic and Litigation Services Directory
The NYSSCPA will publish its first Forensic and Litigation Services Directory this fall, and will distribute it to judges, attorneys, law firms, county and state courts, and Bar Association chapters. Production is now underway. (Article)

The following members joined the NYSSCPA between April and July 1998
(Article)

Leadership Academy Plans October Conference
The Leadership Academy, created two years ago to develop the next generation of NYSSCPA leaders, will hold its first annual conference on October 25-26, 1998. The event will include a full day of CPE on October 26, preceded by an evening social event. (Article)

Will You Pass the CPA Exam?
On November 4 and 5, approximately 7,000 candidates in New York state will sit for the Uniform CPA Examination. What are their chances for passing? According to the CPA Examination Services which administers the exam, only about 30% of all candidates (first timers and repeats) will pass at least two of the required four parts. (Article)

Committees Plan an Active Year; Openings Still Available
The over 1,300 members serving on NYSSCPA technical, administrative and multi-disciplinary committees are off to a busy start and all committees have held their organizational meetings. Some groups still have openings for members interested in participating in the 1998-99 year which ends May 31. (Article)

Committee and Chapter Info Now in One Directory
The new NYSSCPA Leadership Directory now combines pertinent information on committee and chapter activities. The directory offers members one source for contact information on all segments of the Society's leadership. (Article)

Court Rejects Client Reimbursement Provisions
Earlier this year the NYSSCPA filed an amicus brief in support of BDO Seidman's efforts to uphold the enforceability of a clause requiring a firm manager to reimburse it for clients which he took when he left the firm. The Supreme Court for Erie County had refused to enforce the clause which required the manager to pay BDO Seidman an amount equal to 150% of the annual billings of the roughly 80 clients which the manager continued to serve after he left BDO Seidman. The court concluded that "the restrictions against the defendant [the former manager] are over broad. Plaintiff [Seidman] is over protected and the defendant is unreasonably limited." (Article)

Ethics and Regulation Q & A
(Article)

SEC Critiques Proposed AICPA Ethics Changes
The AICPA's proposed changes to the Code of Professional Conduct, which would make the code more applicable to the new firm structures in which some CPAs now practice, were recently criticized by the Securities and Exchange Commission. (Article)

New Rulings on Year 2000, Market Risk and Segment Disclosures
(Article)

Mediation Helps Firm Settle Partner Dispute
My firm learned a valuable lesson on the benefits of alternative dispute resolution as a result of a recent experience regarding a partner leaving our firm and continuing to practice public accounting. (Article)

New Book Offers Money-Saving Tips for Pension Distributions
Pension Distributions: Planning Strategies, Cases, and Rulings, a new book by Seymour Goldberg, covers the practical aspects of pension distributions, and topical issues such as new IRS rules and planning strategies with the Roth IRA. The book is a useful resource for CPAs who have clients with substantial retirement assets, or have such assets themselves. (Article)

Enrollment Open for Disability Income Plan
A special enrollment period is now underway for the NYSSCPA-sponsored Disability Income Plan. The plan offers a choice of $2,000 or $3,000 in monthly benefits paid for up to two full years, in addition to any other disability benefits you might receive, including Social Security. (Article)

Certificate Programs Help CPAs Better Serve Clients
In a financial world where the pace of progress is matched only by the frequency of change, FAE's Certificate of Educational Achievement (CEA) programs provide the tools financial professionals need to keep them in the race for success. (Article)

Hear Updates on Taxes, Apparel and Restaurant Industries at November Conferences
In November, four FAE conferences will offer tax updates and overviews of recent developments in the apparel, textile, and restaurant industries. (Article)

Hear Updates on Taxes, Apparel and Restaurant Industries at November Conferences
In November, four FAE conferences will offer tax updates and overviews of recent developments in the apparel, textile, and restaurant industries. (Article)

Improve Computer Skills With PPI Programs More and more, the business environment is technology driven. To help members improve their computer skills and thrive in the rapidly-evolving financial world, FAE is partnering with Productivity Point International to provide a variety of computer-based programs at 15% off the regular course fee. Offerings include spreadsheet and other accounting-oriented courses, word processing programs, Internet packages, client server sessions, technical certification training, and more. (Article)