• Technology Already Transforming Audits, But Regulators Must Catch Up

    By:
    Chris Gaetano
    |
    Nov 17, 2017
    The age of data analytics is already transforming the audit profession, but regulators have been slow to adapt to this new world, according to speakers at the Foundation for Accounting Education's Auditing Standards Conference on Nov. 16.
  • CFPC's Cordray to Resign at End of Month

    By:
    Chris Gaetano
    |
    Nov 16, 2017
    Richard Cordray, the head of the Consumer Financial Protection Bureau, announced that he will be stepping down from his position at the end of this month. 
  • What Sole Proprietors and Small Firms Need to Know About the New Peer Review Law

    By:
    Colleen Lutolf
    |
    Nov 16, 2017
    Now that Gov. Cuomo signed the peer review bill into law on Oct. 23, firms with two or fewer CPAs that provide attest services to clients and want to continue to provide them will need to undergo a peer review every three years.
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  • SEC to Give Companies a Little More Time on Revenue Recognition Implementation

    By:
    Chris Gaetano
    |
    Nov 15, 2017
    The Securities and Exchange Commission said that it will go a little easy on companies working to implement the new revenue recognition rules, as it won't issue comment letters regarding the company's compliance with the new standards, at least during the beginning stages. 
  • Study: Expensive Audits Not Necessarily Good Audits

    By:
    Chris Gaetano
    |
    Nov 15, 2017
    A study looking at differential audit fee shocks by large versus small accelerated filers has found that there's no substantive relationship between the size of the audit fee and the quality of the audit, measured as decreases in discretionary accruals and a lower likelihood of subsequent restatements of audited financial reports. 
  • Speakers Discuss Newer, Slightly Simpler Affordable Housing Tax Programs

    By:
    Chris Gaetano
    |
    Nov 15, 2017
    Accounting and auditing for affordable housing programs has gotten easier this year, according to speakers at the Foundation for Accounting Education's Real Estate Conference on Nov. 14
  • Regulatory Roundup: Nov. 8-14

    By:
    Chris Gaetano
    |
    Nov 14, 2017
    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.
  • Speaker: Manhattan Real Estate Market Had Flat 2017

    By:
    Chris Gaetano
    |
    Nov 14, 2017
    The Manhattan real estate market didn't do particularly badly in 2017, but then again it didn't do particularly well either, according to a speaker at the Foundation for Accounting Education's Real Estate Conference today. 
  • Poll: "Intelligence" Seen as Least Valuable Feature for New Hires

    By:
    Chris Gaetano
    |
    Nov 13, 2017
    Being smart is only important for a minority of hiring managers when deciding on which candidates they should hire. 
  • NYC-based Company Introduces "Climate Leave"

    By:
    Chris Gaetano
    |
    Nov 13, 2017
    Fog Creek, which makes management software, has implemented a new policy that accounts for wild weather patterns: climate leave. 
  • Howard Levy Remembers Samuel Person, 'a True Icon of Our Profession'

    By:
    Howard B. Levy
    |
    Nov 13, 2017
    On November 11, 2017, a true icon of our profession, a practitioner and a legendary educator of other professionals, Sam Person, passed away at age 86. 
  • Bernie Madoff Victims to Get $772.5 Million From U.S. Govt. Fund

    By:
    Chris Gaetano
    |
    Nov 10, 2017
    The U.S. government is distributing $772.5 million to 24,000 victims of Bernie Madoff's Ponzi scheme, collected through seized assets and settlement agreements with people and companies connected to the case.
  • Study: It's Better to Have Help When Making Financial Decisions

    By:
    Chris Gaetano
    |
    Nov 9, 2017
    Brain scans show that the part of people's brains associated with stress are much more active when evaluating different financial options, unless they have someone else around to help. 
  • CFOs No. 1 Priority: Attracting and Retaining Qualified Employees

    By:
    Chris Gaetano
    |
    Nov 9, 2017
    A poll of 850 chief financial officers has found that, for only the second time in the 21 years the survey has been conducted, attracting and retaining qualified employees is their number one concern. 
  • Regulatory Roundup Nov. 1–7

    By:
    Ruth Singleton and Zach Simeone
    |
    Nov 7, 2017
    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.
  • Survey Finds Wealth Gap Widened Since 2013

    By:
    Chris Gaetano
    |
    Nov 6, 2017
    The result of a recent survey conducted by the Federal Reserve has found that the gulf between the wealthy and everyone else has widened even further since 2013, the last time the poll was taken. 
  • "Paradise Papers" Leak Shows Dense Network of Offshore Tax Shelters Servicing Political, Economic Elite

    By:
    Chris Gaetano
    |
    Nov 6, 2017
    The 13.4 million leaked documents known as the "Paradise Papers" lays bare a dense network of offshore shell companies linked to over 120 prominent political figures as well as some of the world's largest companies, which concealed assets from tax authorities and the general public as a whole.
  • Society Awards: Call for Nominations

    By:
    Nereida Gomez
    |
    Nov 3, 2017
    Certified public accountants throughout New York state give generously of their free time to better their profession and to assist with community causes and projects in the public interest. The NYSSCPA recognizes these volunteer and professional commitments through an awards program designed to highlight outstanding service and to recognize professional development.
  • Yellen Out as Fed Chair, Trump Nominates Jerome Powell as Replacement

    By:
    Chris Gaetano
    |
    Nov 3, 2017
    Donald Trump has declined to re-nominate current chair of the Federal Reserve Janet Yellen, deciding instead to nominate Federal Reserve Governor Jerome Powell as a replacement. 
  • PCAOB Establishes Cooperative Agreement with Irish Regulators

    By:
    Chris Gaetano
    |
    Nov 3, 2017
    The Public Company Accounting Oversight Board (PCAOB) has announced a new cooperative agreement with the Republic of Ireland's auditing regulators which will allow the two bodies to conduct joint inspections on companies. 

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