CPAs, Business Leaders, Regulators Testify on Accountancy Reform

More than 40 individuals testified at the November 16 legislative hearing on accountancy law reform sponsored by State Assembly Majority Leader Michael J. Bragman (Syracuse) and Assembly Standing Committee on Higher Education Chair Edward C. Sullivan (Manhattan). Witnesses included NYSSCPA and AICPA officers; CPAs from industry, academia, and public accounting firms of all sizes; government regulators; and other individuals interested in the future of the profession.(Article)

Society President Calls for Reform

In his testimony before New York State Assembly Majority Leader Michael J. Bragman (Syracuse) and Assembly Standing Committee on Higher Education Chair Edward C. Sullivan (Manhattan), NYSSCPA President Alan E. Weiner called for reform of New York's accountancy law. Weiner highlighted the major provisions of A. 8600, a Society-supported bill sponsored by Assemblymen Bragman and Sullivan.(Article)

Bill Addresses Changing Practice Environment, Says AICPA Chair

In his hearing testimony on A. 8600, a bill introduced in the New York State Assembly to reform the accountancy law, AICPA Chair Robert K. Elliott supported the proposed legislation, stressing that it is important to amend the law to better serve the public and the profession in the next century.(Article)

The Internal Revenue Service knows what to give the man who has everything--an audit. --Henny Youngman

Season's Greetings. What a nice ring that has. Another year is drawing to a close and we can look forward to the first week in January--the most peaceful week in the year for a CPA. The year-end tax projections and business planning have been completed; business mergers and acquisitions, which always take on a sense of urgency in December, have been put to bed (either successfully or terminally); inventories have been taken; clients still are away on holiday; salespeople don't call; and the telephones, faxes, and, now, e-mails slow to a crawl. Ah, there's a bit of time to clean one's desk. But then comes the second week in January, and the weeks that follow. No matter what part of the CPA business you're in, you're busy. So enjoy that first week in January 2000.(Article)

Society Wins Attorney's Fees in Web Case

In a 50-page opinion handed down on December 2, Judge Leonard B. Sand of the U.S. District Court for the Southern District of New York awarded nearly $47,000 in attorney's fees to the NYSSCPA in its action against Eric-Louis Associates over the unauthorized use of the Society's "nysscpa" service mark.(Article)

Society Appoints Richard A. Eisner & Co. as Auditors

At its October 29 meeting the NYSSCPA board of directors selected Richard A. Eisner & Co. LLP as the Society's auditors for fiscal year ending May 31, 2000. (Article)

Society Changes E-mail Domain

On November 1, the NYSSCPA changed its e-mail domain to nysscpa.org. Previously, staff and members with e-mail accounts through the Society's website used luca.com as their domain address.
The new address furthers a stronger identification with the Society that began last year with the launch of the redesigned www.nysscpa.org website, which replaced the former www.luca.com. (Article)

Society Scholarships Available for Accounting Students

The NYSSCPA and its Foundation for Accounting Education encourage Society chapters and members to inform college students about the Excellence in Accounting Scholarship. The Society sends applications to accounting departments, accounting clubs, and financial aid offices in January. (Article)

Marks Shron and Paneth Haber Zimmerman Announce Merger

Marks Shron & Co. LLP and Paneth Haber Zimmerman LLP announced that the two CPA firms will merge effective January 1, 2000. (Article)

Department of Health Urges Auditors to Report What They Find

The New York State Department of Health (DOH) recently requested clarification from the NYSSCPA Health Care Committee about exception reporting in bad debt and charity care (BDCC) agreed-upon procedures engagements and asked that auditors specifically report their findings to the department. (Article)

FAE's In-Firm Training Grows in Popularity

The Foundation for Accounting Education's In-Firm Training Program brings the classroom to the firm and delivers a customized version of standard CPE courses designed to focus on the issues that are most relevant to course participants. FAE will bring in-firm training to any firm located within New York state and can, with the consent of other state societies, schedule training elsewhere as well.(Article)

Society Website Receives 1 Million Hits

November marked two milestones for www.nysscpa.org-- a record 1 million "hits" and the end of password access to committee and chapter areas. (Article)

Society Explains Website and E-mail Access Problems

On December 2 and 3, a defective Netcom transmission line caused a service break for the NYSSCPA e-mail domain and website. The problem was not local to the Society's office and involved a remote transmission line, which was fixed within a few hours after technicians found it. (Article)

Recruit Associate Members, Earn Prizes

The NYSSCPA will reward current members who recruit associate members in the five new categories--international, CPA firm employee, academic, student, and candidate--with prizes from Society affinity partners. Prizes include free enrollment in Eye Care International, subscriptions to Business Week, and Airborne Express shipments.(Article)

Ed Slott Featured at Estate Planning Dinner

Edward A. Slott discussed "Estate and Retirement Planning War Stories" at the NYSSCPA Estate Planning Committee's annual dinner on November 1. The featured speaker is an Estate Planning Committee member and publisher of the monthly Ed Slott's IRA Advisor. (Article)

Liz Claiborne CEO Speaks at Apparel and Textile Conference

Paul Charron, chair and CEO of Liz Claiborne, one of the nation's largest apparel companies, was the keynote speaker at the Foundation for Accounting Education's Apparel and Textile Conference on November 8. (Article)

Hearing Spotlights Commissions Controversy

The November 16 hearing sponsored by Assembly Majority Leader Michael J. Bragman (Syracuse) and Assembly Standing Committee on Higher Education Chair Edward C. Sullivan (Manhattan) regarding bills before the State Legislature to reform New York's accountancy laws presented testimony on both sides of the issue of whether New York CPAs should accept commissions.(Article)

Scope of Practice and the Place of Compilations

The November 16 State Legislature hearing sponsored by Assembly Majority Leader Michael J. Bragman (Syracuse) and Assembly Standing Committee on Higher Education Chair Edward C. Sullivan (Manhattan) on two pending accountancy reform bills--A. 8600, supported by the NYSSCPA, and A. 8789, the product of the State Education Department--addressed the CPA profession's scope of practice, including whether or not non-CPAs should be permitted to perform compilations.(Article)

Views on Non-CPA Ownership Aired at Hearing

The November 16 hearing sponsored by New York State Assembly Majority Leader Michael J. Bragman (Syracuse) and State Assembly Standing Committee on Higher Education Chair Edward C. Sullivan (Manhattan) featured testimony in support and opposition of permitting minority ownership of CPA firms by persons outside the profession. (Article)

Industry CPAs Support Changes to CPE and Licensure Requirements

CPAs from diverse industries testified before the New York State Assembly on November 16 on A. 8600, the proposed legislation to update the state's accountancy law. Witnesses addressed issues such as mandatory CPE regulations, licensure requirements, and the CPA designation. (Article)

CPAs Debate Experience Requirements at State Hearing

CPAs from public accounting, industry, and academia testified on the experience licensure requirement at the November 16 hearing sponsored by New York State Assembly Majority Leader Michael J. Bragman (Syracuse) and State Assembly Standing Committee on Higher Education Chair Edward C. Sullivan (Manhattan).(Article)

CPAs Testify on 150-Hour Curriculum

Among the issues addressed at the November 16 legislative hearing on Assembly bill 8600, which seeks to reform New York state's accountancy law, was the 150-hour curriculum requirement for CPA licensure. Witnesses at the hearing sponsored by State Assembly Majority Leader Michael J. Bragman (Syracuse) and Assembly Standing Committee on Higher Education Chair Edward C. Sullivan (Manhattan) addressed the pros and cons of the educational requirement as a whole, and the provision in A. 8600 that moves up the effective date of the New York State Board of Regents' regulation that mandates the 150-hour curriculum as a prerequisite to sit for the CPA examination after August 2009. (Article)

State Assembly Hearing on Accountancy Law Reform Witnesses
(Article)