nysscpa
archive
subscribe
editorial calendar

February 2003 Articles

Nominating Committee Poses Slate of 2003–2004 Officers

NEW YORK—The New York State Society of CPAs last month announced the nominees for Society officers and board members for the 2003-2004 fiscal year that begins on June 1. (Article)

Spitzer Encourages Greater Auditor Involvement in Not-for-Profits

NEW YORK—The role of the CPA to act as the public’s watchdog is even more vital to not-for-profit organizations than to the for-profit sector, New York State Attorney General Eliot Spitzer said last month. (Article)

Pataki Seeks Shift in Oversight of Professions

ALBANY—Vowing to shake up the state’s education system, New York Gov. George E. Pataki has called for the transfer of the Office of the Professions, which regulates approximately 40 professions, including accounting, from under the purview of the State Education Department (SED). (Article)

N.Y. Accounting Board Weighs Major Changes to Regents Rules

NEW YORK—With new Securities and Exchange Commission rules in place, the New York State Board for Public Accountancy is actively considering a number of proposals and positions that it will recommend over the next several months to the state Board of Regents regarding the Sarbanes-Oxley Act of 2002 and accounting reform in New York. (Article)

President's Commentary

An accountant was having a hard time sleeping and went to see his doctor. “Doctor, I just can’t get to sleep at night.” “Have you tried counting sheep?” the doctor asked. (Article)

SEC Issues Sarbanes-Oxley Rules

The U.S. Securities and Exchange Commission finished the busiest period of rule making in its history with the introduction of regulations in compliance with last year’s Sarbanes-Oxley Act. (Article)

NYSSCPA Executive Committee Ratifies Four Recommendations for AICPA Council

The Executive Committee of the New York State Society of CPAs on Jan. 15 ratified President Jo Ann Golden’s recommendations to replace the four elected members of the American Institute of CPAs’ Governing Council who will rotate off Council in October. (Article)

We Thought You’d Like to Know

It’s that time of year again, and the New York State Society of CPAs has been busy making certain the local and national media are familiar with and taking advantage of our members’ expertise and knowledge in the tax and accounting fields. (Article)

New Regs Dominate SEC/FASB Conference

The Security and Exchange Commission’s rules on auditor independence, auditor rotation and a slew of other regulations mandated by Congress last year will help restore confidence in the accounting profession, an SEC official told attendees of the Foundation for Accounting Education’s SEC/FASB Conference in January. (Article)

Work-Paper Retention Policies

Camico has long advocated, primarily from a liability perspective, that CPA firms establish a written policy for the retention of work papers, and that firms apply that policy consistently to all clients. Now some states, including New York, are requiring CPAs to establish such a policy to address issues of record retention and destruction. (Article)

Committee Activity on the Rise

More members are participating in their committees as attendance and meetings have increased, according to New York State Society of CPAs records. (Article)

Claiming the EITC (Article)

IRS Restructuring ‘On Schedule’

Internal Revenue Service officials said the agency is keeping pace with its reorganization and overhaul mandated by Congress in 1998, while practitioners praised the service for its progress. (Article)

Important Information Regarding Form TC201 (Article)

Media Training Session Preps Members for the Tough Questions

The New York State Society of CPAs recently held a media training session in a growing effort to have members gain more knowledge of how to communicate effectively with journalists and other representatives of the media. (Article)

Consumer Bill of Rights Regarding Tax Preparers (Article)

NYSSCPA Poll Shows CPAs Rule Out a Quick Economic Recovery

Business conditions in New York state have made CPAs significantly less optimistic about a sudden economic recovery. Many believe it will take up to five years to see improvements, according to the New York State Society of CPAs’ Year-End Economic Poll. (Article)

With State’s Hands Tied, Financial Aid

As New York City grapples with its budget deficit, one that is projected to be as much as $3.5 billion in fiscal year 2003–2004, the Big Apple shouldn’t expect Albany to provide any sudden shot of substantive relief, a state budget expert stated in January. (Article)

Committee Hosts Enthusiastic Tech Session on Payroll Taxes

A number of expert presenters recently treated small business owners and CPAs to an in-depth discussion of several different workplace issues, ranging from payroll filing requirements to the outsourcing of human resources functions, during a well-attended technical session given by the New York State Society of CPAs’ Cooperation with Community Businesses Committee. (Article)

Schedule D: Looking Behind the Numbers to Provide Better Client Service

After another dismal year for the stock market, many investors continue to suffer significant losses in their portfolios. (Article)

Using ACL in a Financial Statement Audit

In today’s environment, critical business records, including those used to provide support for audit procedures, usually are stored in digital media. (Article)

SAS 99: Impact on Technology Assurance

The recent adoption of the generally accepted audit standard relating to fraud, SAS 99, has forced all audit teams to think of the potential for fraud in new areas. (Article)

SAS 99: Detecting Fraud Using Benford’s Law and Preventing Computer Fraud in Small and Medium-Sized Companies

The new generally accepted audit standard relating to fraud, SAS 99, recently was issued. It includes specific guidance for fraud detection procedures in financial statement audits. (Article)

There’s a Party Going On Right Here

Alumni and counselors from the Career Opportunities in the Accounting Profession (COAP) program got a chance to reconnect and put on their dancing shoes on Dec. 26 during an annual holiday party hosted by PricewaterhouseCoopers. (Article)