Latest Articles

  • Study: Big Four Fees Grow with Tenure

    By:
    Chris Gaetano
    |
    May 24, 2018
    A recent study has found that audit fees from Big Four firms grow the longer they're with a client. 
  • Finance Professionals on Average Got 4.3 Percent Raise in 2017

    By:
    Chris Gaetano
    |
    May 24, 2018
    Finance professionals in general got an average raise of 4.3 percent last year, with chief financial officer pay increasing by 5.7 percent in the same period. 
  • IRS Warns of Scammers Posing as Accounting or Professional Organizations

    By:
    Ruth Singleton
    |
    May 24, 2018
    The IRS has issued an alert to tax professionals about phishing emails that appear to come from accounting or professional organizations. The scammers behind these emails targeted, in particular, tax practitioners in Iowa, Illinois, New Jersey and North Carolina.
  • PCAOB Chief Auditor Martin Baumann to Leave at End of Month

    By:
    Chris Gaetano
    |
    May 23, 2018
    The Public Company Accounting Oversight Board (PCAOB) has announced that its chief auditor for 12 years, Martin Baumann, will leave the organization at the end of this month. 
  • Dodd-Frank Rollback Clears Congress, Goes to President

    By:
    Chris Gaetano
    |
    May 23, 2018
    With a 258-159 vote in the House of Representatives last night, Congress passed a bill rolling back many of the protections installed by the Dodd-Frank Act in the immediate aftermath of the 2008 economic crisis; the bill now goes to the president's desk for final signature. 
  • IRS Strongly Suggests Against Donating to a State Nonprofit to Mitigate SALT Deduction Cap

    By:
    Chris Gaetano
    |
    May 23, 2018
    The IRS issued a notice saying it plans to release guidance soon in response to efforts by several state governments to mitigate the impact of the $10,000 limit on state and local tax deductions. While specific policies are not mentioned in the notice, it implies that the IRS will not look kindly upon, specifically, people donating to a state-run nonprofit to claim a charitable deduction on federal taxes. 
  • Speakers Talk About How to Boost Valuation with Intellectual Property

    By:
    Chris Gaetano
    |
    May 23, 2018

    As the global economy increasingly turns less on physical goods and more on intellectual property (IP), patents have become an efficient and effective way for a company to increase its valuation, especially when preparing for a sale, according to a pair of speakers at the Foundation for Accounting Education’s Business Valuation Conference on May 21. 

  • AICPA's Melancon Calls for a Radical Change to the Audit

    By:
    Chris Gaetano
    |
    May 22, 2018
    AICPA CEO Barry Melancon, during a speech at the institute's Governing Council spring meeting, called on audit industry leaders to embrace emerging technologies like blockchain and cognitive computing, saying that the profession needs an entirely new approach to audits. 
  • Regulatory Roundup: May 16-22

    By:
    Chris Gaetano
    |
    May 22, 2018
    With so many regulators out there, it can be tough to keep track of all the decisions being made. This is the NYSSCPA’s regular series that collects relevant regulatory ‚Äč‚Äčannouncements from the past week, and puts them in one place to help you stay on top of the issues.  
  • NYS Proposes New Unincorporated Business Tax as Salve to SALT Cap

    By:
    Chris Gaetano
    |
    May 22, 2018
    The New York State Department of Taxation and Finance has released a discussion draft on a proposed unincorporated business tax (UBT) matched with a corresponding set of credits for members of partnerships doing business in New York, as part of the state's overarching response to the federal Tax Cuts and Jobs Act