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CPA Evolution Aims for Radical Rethinking of Profession
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Read the Summer/Fall 2020 Issue (pdf)
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No Change to Ethics CPE in January 2020
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SEC Seeks to Change Auditor Independence Rules
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First Mazars Female Partner Speaks on Diversity

Latest Articles

  • Survey: Most Investors Use CAMs When Making Investment Decisions

    By:
    Karen Sibayan
    |
    Sep 13, 2024

    In a new survey on Critical Audit Matters (CAMs), the Center for Audit Quality (CAQ) found that 92% of investors use CAMs when making investment decisions. Further, 93% of investors say that CAMs play a crucial role in their analysis when deciding on possible investments.

  • Treasury, IRS Release Proposed Guidance on Corporate Alternative Minimum Tax; Comments Due Dec. 12

    By:
    Karen Sibayan
    |
    Sep 13, 2024
    On Sept. 12, the IRS and the Treasury Department released  proposed regulations offering guidance on the Corporate Alternative Minimum Tax (CAMT).

  • PCAOB Report: Bank Audit Teams Failed to Identify Certain Risks of Material Misstatement

    By:
    Karen Sibayan
    |
    Sep 12, 2024
    On Sept. 9, the Public Company Accounting Oversight Board (PCAOB) staff released a report stating that certain bank audits that the regulatory body reviewed involved instances where engagement teams failed to revisit initial risk assessments that preceded the 2023 bank failures as interest rates continued to rise.

  • IRS Pursues Exception from TikTok Ban in Order to Fight Tax Scams

    By:
    Karen Sibayan
    |
    Sep 12, 2024
    The IRS is searching for ways to circumvent the TikTok ban so that some of its employees can still go on the site to combat tax schemes.

  • IRS Extends Some Tax Deadlines to Feb. 3 for  Victims of Storms in New York and Connecticut

    By:
    Karen Sibayan
    |
    Sep 11, 2024

    Because of the heavy storms that landed in some areas of New York and Connecticut starting on Aug. 18, the IRS announced on Sept. 10 that it will offer tax relief to individuals and businesses affected by these storms, which included flooding. According to the IRS announcement, these individuals will have until Feb. 3, 2025, to file various federal individual and business tax returns and make tax payments.

  • SEC Approves PCAOB's New Quality Control Standard

    By:
    Karen Sibayan
    |
    Sep 11, 2024
    On Sept. 9, the Securities and Exchange Commission (SEC) approved the Public Company Accounting Oversight Board (PCAOB)’s new quality control standard and related changes to its standards, rules, and forms. This standard mandates that all registered public accounting firms identify the specific risks to their practice while designing a quality control system with appropriate responses to avoid those risks. 

  • IRS, Treasury Request Comments on Saver’s Match Contributions Under SECURE 2.0 Act

    By:
    Karen Sibayan
    |
    Sep 10, 2024
    On Sept. 5, the IRS and the Treasury Department published a notice requesting f comments on Saver’s Match contributions paid out by the Treasury Department under the SECURE 2.0 Act of 2022.

  • Regulatory Roundup: September 4-9

    By:
    Ruth Singleton
    |
    Sep 9, 2024
    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 announcements from the past week and puts them in one place to help you stay on top of the issues.

  • IRS Has Recovered Over $1.1B from Rich Individuals, Including $172M from 21K Who Had Not Filed Returns Since 2017

    By:
    Ruth Singleton
    |
    Sep 6, 2024
    On Sept. 6, U.S. Secretary of the Treasury Janet L. Yellen and IRS Commissioner Danny Werfel announced  the IRS's recent achievements under Inflation Reduction Act initiatives to make sure that wealthy individuals pay the taxes they owe. Nearly 80 percent of 1,600 millionaires with delinquent tax debt have now made a payment, leading to over $1.1 billion recovered. In addition, nearly 21,000 of wealthy taxpayers who had not filed taxes for years have now filed, leading to $172 million recovered.

  • Three State CPA Societies Issue Report Focusing on Skills Needed to Become CFOs

    By:
    Ruth Singleton
    |
    Sep 5, 2024
    Three CPA societies—the Massachusetts Society of CPAs, the Indiana Society of CPAs and the Tennessee Society of CPAs—in partnership with CPA Crossings, a continuing education services provider, have published a report, "CPAs in the C-Suite: Most Wanted Competencies for Finance Leaders, providing “a roadmap for aspiring CFOs to excel in today’s dynamic financial landscape.”
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