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October 2002 Articles

Legislators Hear Varying Voices on Accountability Laws

NEW YORK—Representatives of business, consumer and watchdog groups gave differing views on how fast the New York state legislature should move—if at all—on proposed corporate governance and accountability laws, during a hearing in September. (Article)

POP Program Is Back for 2002-2003

The Foundation for Accounting Education (FAE) Board of Trustees again approved the popular discounted pricing plan for continuing professional education (CPE) events, Pay-One-Price (POP) Pass, for another year. (Article)

State to Revisit Proposed Work Paper Retention Rule

ALBANY—State authorities will revise proposed work paper retention rules released for public comment in August by the New York State Education Department. (Article)

President's Commentary

What does the last show of the off-Broadway production of The Fantasticks have in common with this year’s ethics course in Syracuse? They both played to sold-out audiences. (Article)

Restoration Project: AICPA President Discusses Strategic Initiatives

In one of the toughest years in the history of the accounting profession, Barry C. Melancon, president and CEO of the American Institute of CPAs, remains optimistic about the future, but he harbors no illusions about the challenges ahead. (Article)

Society’s Political Action Committee Contributes Record Amount in 2002

The CPA PAC Board of Trustees has authorized $110,000 to be given to New York state political candidates for 2002 elections. (Article)

NYSSCPA Board Looks at Policies, Strategic Planning

The New York State Society of CPAs Board of Directors took on several governance issues, calling for the creation of a task force to review proposed policies on conflicts of interest and communications, and passing a third policy covering antitrust concerns. (Article)

Institute’s PAC Funds Experience Shortfall in 2001-2002 Cycle

As the November Congressional elections quickly approach, the coffers of the American Institute of CPAs political action committee are down significantly from their 2000 levels. (Article)

Officer Visitations, Ethics CPE Continue

Plan to attend a scheduled free two-hour continuing professional education course on ethics in accordance with the new state mandate at one of the New York State Society of CPAs’ chapters. (Article)

New York State Grants Taxpayers Amnesty

Taxpayers will receive a “second chance” to satisfy outstanding liabilities as the New York State Department of Taxation and Finance prepares to offer qualified participants the opportunity to settle tax debt accrued on or before Dec. 31, 2000, without administrative penalties or criminal prosecution. (Article)

Profession’s Future Gleams Brightly at Second Annual Young CPAs Forum

Young CPAs from Boston to New York City revealed their commitment to the future of the accounting profession by attending the Second Annual Young CPAs Forum on July 25 and 26. (Article)

Business Valuation Committee Establishes a Technical Response Subcommittee

Have you ever had a business valuation question that you wanted to discuss with another practitioner but did not know where to turn? (Article)

Time to Refocus on Loss Prevention

CPA firms currently are facing the dual prospect of rising insurance premiums and shrinking availability of the coverage they need—known as a “hard market” in insurance jargon. (Article)

Using Tax Credits to Help Save Lives

Changes in New York state tax law and public health policy have created an opportunity for businesses and individuals to enjoy a tax credit for helping their communities save lives. (Article)

Audit Packages

Do you use paper-bound work papers and bulky folders for documenting your audits? Is your file room and office overflowing with audit work papers piled everywhere? (Article)

Auditing Cisco Routers and Firewalls

SAS 94, “The Effect of Information Technology on the Auditor’s Consideration of Internal Control in a Financial Statement Audit,” expands the auditor’s responsibility in financial statement audits to the boundary of the network. (Article)

NYSSCPA Annual Report (Article)

When Necessary, How to Terminate an Employee

Terminating an employee is one of the most feared tasks for managers, supervisors and directors. Managers want to conclude the action as quickly as possible and in their haste can miss some very important protocol that could spell trouble for the association, company or sole practitioner down the road. (Article)

Intangible Research Center (Article)

Top Four Reasons Why You Should Register for the Partnership Taxation Conference

Members of the New York State Society of CPAs’ Partnerships Committee expect this year’s Partnership Taxation Conference to provide excellent tools for practice development, in informative and understandable discussions of topics that may be unfamiliar to some professionals. (Article)

Great Publicity Opportunities Await You

Corporate accountability fiascoes have put the spotlight on the accounting profession, creating many opportunities for members of the New York State Society of CPAs to shine in the press and elucidate the value of the CPA to the public. (Article)