Board Endorses Camico
The NYSSCPA board of directors approved the recommendations of the Executive Committee and the Task Force on Professional Liability Insurance at the board's October 29 meeting to endorse Camico as provider of the liability insurance offered to Society members. This latest addition to the member insurance program caps years of research and discussion by Society members and staff.(Article)

Society Offers Discounts on CCH Products
The NYSSCPA now offers Society members a 10 percent discount on certain CCH online and CD-ROM research products, specifically the company's U.S. Master Tax Guide Plus and Tax Essentials.(Article)

Board Merges Leadership and Annual Conferences
The NYSSCPA board of directors voted at its October 29 meeting to merge two member conferences: the Annual Conference held in June and the Leadership Forum held in August. The combined single event will take place in June 2001. (Article)

President's Commentary

We're still in a travelin' mode. Since we (you and I) last spoke, we've been to Mid Hudson, Seattle, New York City, Buffalo, Albany (for a meeting of the political action committee), and Staten Island. My thanks to chapter Presidents Gary Cassiello, Ray Nowicki, and Richard Prinzi for hosting their chapter meetings and bringing out the people to hear first-hand from Gerry Sokolski, Nancy Newman-Limata, Lou Grumet, and me as to what's new, exciting, and disappointing in the profession.(Article)

AICPA Revises Peer Review Standards
On October 5, the AICPA Peer Review Board adopted revisions to its Standards for Performing and Reporting on Peer Reviews and the accompanying interpretations. The new standards create three types of review, including a new report review, and revise rules governing who can perform peer reviews.(Article)

Frank Aquilino, NYSSCPA Audit Committee chair, and Susan Barossi of O'Connor Davies and Co. LLP, the Society's auditor, present the NYSSCPA consolidated financial statements to the Executive Committee. Watch the December issue of The Trusted Professional for details.(Article)

Metro Area CPAs Invited to December Reception
NYSSCPA President Alan E. Weiner, President-Elect P. Gerard Sokolski, and Executive Director Louis Grumet will greet CPAs from Manhattan, Queens, Brooklyn, and the Bronx on December 14 at the first ever officers visitation for the metropolitan New York area.(Article)

Society Endorses AICPA Decision to Issue Enforceable Tax Standards
The NYSSCPA Executive Committee voted at its October 28 meeting to endorse the recent decision by AICPA Council to empower the Institute's Tax Executive Committee to issue enforceable professional standards in taxation. (Article)

State Taxation Conference Features New Tax Commissioner
New York State Tax Commissioner Arthur J. Roth will speak at FAE's 1999 New York State Taxation Conference, to take place December 15 at the Sheraton New York Hotel and Towers in New York City. (Article)

Society Partners with Yipinet for CPE
The Internet offers CPAs an alternate method to obtain their continuing professional education through online learning. To meet this growing member need, the NYSSCPA has partnered with Yipinet, a provider of Internet-based learning that focuses on continuing education for professionals in regulated industries such as accounting, to offer discounts on online CPE.(Article)

Oversight Chairs Update Executive Committee
The chairs of the NYSSCPA Industry, Tax, and Future of the Profession oversight committees attended the Society's Executive Committee meeting on October 28 to provide updates on their activities and future goals. Chairs of the other oversight committees--Accounting and Auditing, and Consulting Services--submitted written reports.(Article)

CPA License Plate Available
Customized CPA license plates are now available through the New York State Department of Motor Vehicles. The DMV reports that licensed CPAs from throughout the state are placing their orders and that CPAs have had a number of questions. Below are answers to common inquiries. (Article)

Profession's Leaders Gather at AICPA Council Meeting
The New York delegation was well represented at the AICPA fall Council meeting in October. Top: Former NYSSCPA presidents (from left) Stu Kessler, Barry Seidel, Brian Caswell, George Foundotos, and Bob Israeloff; Center: NYSSCPA President Alan Weiner with outgoing AICPA Chair Olivia Kirtley; Bottom: New York Council member Victor Rich and AICPA President Barry Melancon (seated) flank Weiner and AICPA Chair Bob Elliott.(Article)

AICPA Honors Milton Brown
The AICPA board of directors passed a resolution at the October Council meeting to recognize the accomplishments of Milton Brown, a public accountant who served as chair of the National Association of State Boards of Public Accountancy in 1998­99.(Article)

CPA Hall of Fame Selection Committee Formed
Nine individuals from both within and outside the accounting profession will serve on the Selection Committee of the newly established NYSSCPA CPA Hall of Fame. Following a comprehensive search process, the Society's Executive Committee selected a group of distinguished professionals who will determine the first inductees. See the next issue of The Trusted Professional for a list of committee members.(Article)

Society Member Robert Elliott Named AICPA Chair
NYSSCPA member Robert K. Elliott became AICPA chair at the Institute's Council meeting in October, succeeding Olivia Kirtley. The Society recognized his achievement with a special breakfast reception at the meeting.(Article).

AICPA Member Ballot to Call for Peer Review for CPAs Performing Compilations
AICPA Council at its October meeting authorized a membership ballot on changes it approved to its bylaws to require peer review for individual CPAs who perform compilations. Council's action continues its move to amend Rule 505, Form of Organization and Name, to permit CPAs employed by non-CPA firms to issue SSARS compilations provided that CPAs sign their reports individually and not in their employer's name. (Article)

COAP Students Reunite
To further the goal of providing ongoing college and career advice to its graduates, Career Opportunities in the Accounting Profession (COAP) recently hosted reunions for its 1998 and 1999 alumni.(Article)

Support COAP and Improve Profession's Diversity
One of the problems facing the accounting profession today is a lack of diversity. The NYSSCPA/FAE's Career Opportunities in the Accounting Profession (COAP) program addresses this issue by exposing qualified minority high school students to accounting careers.(Article)

Chapter Happenings
The NYSSCPA Rochester Chapter kicked off its 1999­2000 year with its second annual clambake. KeyBank served as cosponsor again, and the event was a great success. Our members heard four perspectives on investment compliance during a two-hour CPE session on regulations of which CPAs need be aware if considering venturing into investment advising. More than 120 CPAs registered for the technical session, a number the chapter had not seen in years. The clambake immediately followed the technical session, and the 100 or so attendees feasted upon an unlimited supply of steamed clams, clams casino, jumbo shrimp, mahimahi, swordfish, and many other delicious entrees. As chapter members made numerous trips to the serving stations, NYSSCPA officers updated them on current issues facing the profession as part of the officers visitation. (Article)

Nassau Young CPAs Networking Cruise Attracts 100
The NYSSCPA Nassau Chapter Young CPAs Committee's third annual networking cruise on September 23 once again proved to be a big success, attracting approximately 100 young professionals, including accountants, bankers, and attorneys. The cruise left from Chelsea Piers in New York City, and attendees enjoyed a beautiful evening on the Spirit Cruise Line while eating, sightseeing, and networking with peers. The committee also awarded door prizes to various attendees.(Article)

Syracuse Young Professionals Network
The NYSSCPA Syracuse CHapter's Young CPAs Committee sponsored a networking reception for local young CPAs, bankers, attorneys, and other professinals.(Article)

Common Questions and Answers on Peer Review Changes
The AICPA recently adopted changes to its peer review program. (Article)

Society Responds to POB Audit Effectiveness Survey
The NYSSCPA Auditing Standards and Procedures Committee, chaired by Vincent Love, recently responded to approximately 50 questions from the Public Oversight Board's Panel on Audit Effectiveness. The POB created the panel in response to Securities and Exchange Chair Arthur Levitt's broad program to improve the quality of financial reporting and curtail abuses by public companies practicing earnings management.(Article)

Society President Urges Fiscal Year Reform at AICPA Council Meeting
NYSSCPA President Alan E. Weiner addressed AICPA Council in Seattle, recalling his and the Society's yearlong campaign to mobilize CPAs in support of fiscal year reform, also sometimes referred to as workload compression. (Article)

Society Announces Forbes Magazine Discounts
The NYSSCPA recently teamed up with Forbes magazine to provide Society members with discounted subscription rates. Society members can receive 26 issues (a one-year subscription) for $29.98, a 76 percent discount off the newsstand price of $129.70. Members also can subscribe for two years (52 issues) for $59.95.(Article)

Airborne Express Software Automates Shipping Operations

The NYSSCPA Airborne Express discount program now offers an easy, convenient, and fast way for Society members to ship packages. With Lightship, Airborne Express's shipping and tracking software, automated shipping is now as close as a personal computer.(Article)

New Jersey Society Appoints New Executive Director
The New Jersey Society of CPAs' board of trustees recently announced the appointment of Ralph Albert Thomas as executive director. Thomas will join the society in early December. Thomas currently is vice president at Citicorp Securities.(Article)

One Computer Geek's Utility Programs
This month I would like to share some tips concerning the utility programs that ease my day-to-day workload. I will outline a few exceptional programs that I utilize on a regular basis to compress files, edit plain text files, convert different file formats, and search the Internet more effectively. (Article)

Website FAQs
FAQs, cyberspeak for "frequently asked questions," is a feature of The Trusted Professional that answers common questions about http://www.nysscpa.org. Members can post inquiries and comments about the Society's website by clicking on the Technical Problems and Website Suggestions links at the bottom of the homepage.(Article)

AICPA Creates IT Accreditation
The AICPA has announced a new information technology accreditation that it will grant to CPAs involved in technology strategic planning, implementation, management, and business strategies."The IT accreditation is for the CPA who bridges the gap between management and the technologist," said Gary Boomer, chair of the AICPA Information Technology Executive Committee. "Market research reveals that business owners and executives need impartial guidance in making strategic technology-related decisions. Currently, no particular professional owns this space. This is where the CPA with the AICPA IT accreditation will provide a valuable service."(Article)

Accounting Profession and Tech Companies to Create Digital Language for Financial Statements
The AICPA, six information technology companies, and the Big Five accounting and professional services firms are developing an XML-based specification for the preparation and exchange of financial reports and data.(Article)

Limited Liability Companies the Focus of Bankers Breakfast
The NYSSCPA Cooperation with Bankers and Other Credit Grantors Committee's October 7 breakfast featured James Kardon and Anthony Altamura, from the law firm Hahn & Hessen LLP, who spoke to more than 100 CPAs and bankers about various aspects of limited liability companies.(Article)

International Committee Discusses Cross-Border Due Diligence
The NYSSCPA International Operations Committee held a breakfast meeting on October 19 that featured a presentation by committee member Gregg H. Saunders on due diligence in cross-border transactions.(Article)

Minority Recruitment Committee Career Fair Helps Students and Employers
The NYSSCPA Minority Group Recruitment and Equal Opportunity Committee, chaired by Alex Ampadu, held its annual Career Fair on October 15. Eleven CPA firms and companies and more than 80 students from across New York state attended the event, where prospective employers had the opportunity to meet and distribute information to both students and job-seekers with diverse ethnic backgrounds, both entry-level and experienced. (Article)

Letter to the Editor
Editor's Note: September's article by Robert Kawa challenging chapters to reactivate the One-on-One program initiated cheers and a reminder that Buffalo has long maintained a successful program. Another popular chapter activity for students is education night for area college accounting majors. For more on these efforts, see the article on this page.(Article)

One-on-One Alive and Well in Buffalo
As an active NYSSCPA member, I am a bit puzzled about the article in the September issue of The Trusted Professional, "Whatever Happened to the One-on-One Program?" I cannot speak for the other chapters, but there is no need to reactivate the One-on-One program in Buffalo. The Buffalo Chapter has always had a very active One-on-One program, and this year is no exception..(Article)

Chapter Education Events Achieve Statewide Success
Student education nights achieve great success in NYSSCPA chapters across the state. These events provide a positive image of the accounting profession and allow students to interact with CPAs in an informative and social environment.(Article)

Ethics in Action
Ethics in Action is a new feature of The Trusted Professional to help educate members on ethics issues and provide a greater understanding of the profession's self-disciplinary process. Authored by members of the NYSSCPA Professional Ethics Committee, columns summarize actual ethics case investigations, with the names and other details changed to protect the identity of the participants.(Article)

Ethics and Regulation Q&As
The NYSSCPA offers assistance with members' questions on ethics and regulation. The following is a ruling recently adopted by the AICPA. Although the Society does not officially adopt AICPA rulings, the Professional Ethics Committee uses them as guidance for members. (Article)

Society Catastrophe Insurance Provides $1 Million in Benefits
Today the cost of a serious illness or accident often is far beyond the benefits provided by the average hospitalization or major medical insurance policy. The NYSSCPA Catastrophe Major Medical Insurance Plan helps members in these times of need and offers up to $1 million additional coverage to cope with the burden of hospital, surgery, and doctor bills associated with a serious illness or injury.(Article)

Estate Planning Council Event Spotlights Valuation Issues
Over 100 CPAs and other professionals attended the Estate Planning Council of New York City's dinner on October 12 to hear Arthur Sederbaum from Patterson, Belknap, Webb & Tyler LLP discuss the impact of recent valuation cases on estate planning taxation.(Article)

Academic Associate Drive Under Way
Non-CPA accounting professors at colleges and universities are now eligible for NYSSCPA associate membership, thanks to a bylaws change approved by the membership. For annual dues of $165, academic associates receive all Society benefits and services except the ability to vote or serve as NYSSCPA officers or directors. (Article)

PricewaterhouseCoopers Encourages Society Membership
PricewaterhouseCoopers LLP employees learned about the benefits of NYSSCPA membership and the new associate member categories at a recruitment drive arranged by Carolyn McInnis DiGiammo, the firm's senior associate of business development in October. The Society distributed membership information to employees during lunch.(Article)

Nonprofit Conference to Address A&A, Operations Issues
FAE's 22nd annual Nonprofit Conference will take place January 19, 2000, at the Holiday Inn Rochester Airport Hotel in Rochester and January 27, 2000, at the New York Hilton Hotel and Towers in New York City. According to Michael McNee of Paneth Haber & Zimmerman LLP, chair of the NYSSCPA Not-for-Profit Organizations Committee, the conference's sponsor, this year's program will combine an update on the accounting and auditing issues faced by nonprofits with an operations overview tailored to industry professionals.(Article)

New York Makes CPA Exam Honor Roll
New York state once again made the National Association of State Boards of Accountancy's honor roll for states whose candidates achieved passing grades in all subjects of the CPA exam at a higher rate than the national average. Honor roll states for the May 1999 exam are, alphabetically: Arizona, California, Colorado, Delaware, Florida, Georgia, Illinois, Iowa, Minnesota, Montana, Nevada, New Hampshire, New York, Tennessee, Utah, Washington, and Wisconsin. (Article)

Tri-State Tax Conference Examines Recent Tax Developments
FAE's Tri-State Tax Conference, to take place January 13 at the New York Hilton Hotel and Towers in New York City, provides updates and insights into many of the tax trends and developments that have occurred in recent years. (Article)

FASB Issues Analysis of U.S. and International Standards
The Financial Accounting Standards Board has issued the second edition of a report that compares U.S. generally accepted accounting principles with international standards published by the International Accounting Standards Committee. The report is an update of a comparison study undertaken by FASB in 1996.(Article)

ISB Issues Discussion Memo on Firm Structures
The Independence Standards Board has issued a discussion memorandum, DM 99-2--Evolving Forms of Firm Structure and Organization, for public comments due December 31. The many services provided by CPA firms and new firm structures has caused the Securities and Exchange Commission and others to raise their concerns about auditor independence. (Article)