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| July 15, 2006 | The
Newspaper of the NYSSCPA |
Vol.
9, No.13 |
| What's
Inside |
| Regents Implement New Unprofessional-Conduct Rules Health-Care Facility Cost Report Form Finalized Society Invites Candidates for 2006 Nominating Committee |
| Peer-Review Reform Heats Up |
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NEW YORK—On June 21, the New York State Assembly referred to its Higher Education Committee a bill aimed at establishing mandatory “quality review” of public accountancy firms in New York state. The introduction of this new legislation by the Assembly Rules Committee, which is chaired by assembly speaker Sheldon Silver, highlights the importance of quality review in the practice of public accountancy in New York state. |
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| Congressional Hearing Focuses on SOX Effect |
| NEW YORK—The
House Subcommittee on Regulatory Affairs last month held a public
hearing in Manhattan on “Cost, Compliance, and Competitiveness
After Sarbanes-Oxley,” attracting a wide range of witnesses,
the majority of whom focused their testimony on the compliance costs
associated with Sarbanes-Oxley. Continue...
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| Regents Propose Revisions to CPA Education Regs. |
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ALBANY—Late
last month, New York’s Board of Regents published the final
draft of a proposal that would eliminate the state’s current
educational guidelines that require students pursuing a CPA license
to take 60 hours of liberal arts and sciences. The proposal was
considered earlier this year by the New York State Board for Public
Accountancy (NYSBPA).
Continue... |
| Ethics, Ethics, Ethics |
| Since I have been a practicing CPA (which is now more years than I’d care to admit), the tarnishing of the CPA reputation has been largely caused by a very few—but high-profile and severe—lapses in ethical judgment. Continue... |
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