• Lawsuits Against Tax Preparers, Already High, Set to Grow

    By:
    Chris Gaetano
    |
    Jul 6, 2017
    Tax preparers are already sued more than any other CPA specialty, and analyses from liability insurance firms indicate that several unique conditions in the 2017 season will lead to even more litigation against firms. 
  • Study: When Execs Meet with White House Officials, Company Stock Surges

    By:
    Chris Gaetano
    |
    Jul 6, 2017
    A recent study has found that when corporate executives meet with federal officials, their stock tends to do better. The study also found that the degree to which such meetings have on stock prices is affected by which party is in the White House at the time. 
  • Ukrainian Police Seize Accounting Firm's Servers in Connection with Malware Attack

    By:
    Chris Gaetano
    |
    Jul 5, 2017
    Ukrainian police seized an accounting firm's servers on the suspicion that they had been used to spread a malware attack that last week crippled networks around the world. 
  • Study: CPA Firms Spending Lots of Sponsorships But See Few Results

    By:
    Chris Gaetano
    |
    Jul 5, 2017
    A recent study has found that CPA firms have been spending more than ever on sponsorships, more even than on traditional advertising, despite seeing few tangible results from these efforts. 
  • Regulatory Roundup: June 28-July 5

    By:
    Chris Gaetano
    |
    Jul 5, 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.
  • SEC Expands Nonpublic Draft Registration from EGCs to All Companies

    By:
    Chris Gaetano
    |
    Jun 30, 2017
    The Securities and Exchange Commission announced that the ability to submit draft registration statements relating to initial public offerings for review on a non-public basis, which had previously been restricted only to Emerging Growth Companies, has now been expanded to all companies. 
  • Bill Would Require Shell Corporation Owners to Be Revealed

    By:
    Chris Gaetano
    |
    Jun 30, 2017
    A bill with both Democratic and Republican support would require corporations and limited liability companies to file information about their beneficial owners. 
  • GASB Issues Lease Standard

    By:
    Chris Gaetano
    |
    Jun 29, 2017
    The Government Accounting Standards Board (GASB) issued guidance that establishes a single approach to accounting for and reporting leases by state and local governments. This single approach is based on the principle that leases are financings of the right to use an underlying asset.
  • Taxpayer Advocate: IRS Service Improved in Some Areas, Worsened in Others

    By:
    Chris Gaetano
    |
    Jun 29, 2017
    Taxpayer Advocate Nina E. Olson, in her mid-year report to Congress, said that taxpayer service slightly improved in accounts management, but got remarkably worse in compliance. 
  • Nominating Committee seeks members for 2018

    By:
    Anthony T. Abboud
    |
    Jun 28, 2017

    Are you interested in helping to select who will serve on next year’s NYSSCPA Board of Directors? If so, consider serving on the Society’s Nominating Committee. 

  • New Wave of Ransomware Rampages Through Internet

    By:
    Chris Gaetano
    |
    Jun 28, 2017
    Businesses across the world have been hit with a massive cyberattack that locks down victims' systems and demands $300 in Bitcoin, wrecking havoc and disrupting operations across many different industries. 
  • SEC: Oil Company Improperly Moved Hundreds of Millions from Operating to Capital Expenditure Accounts

    By:
    Chris Gaetano
    |
    Jun 28, 2017
    The Securities and Exchange Commission charged a Canadian oil company and three of its former top finance executives with perpetuating a massive accounting fraud over the course of several years. 
  • In an NYSSCPA State of Mind at the Moynihan Fund Gala

    By:
    Ruth Singleton
    |
    Jun 27, 2017
    Some of the biggest names in the accounting world came out for the second annual Moynihan Fund Gala on May 17 at The Lighthouse at Chelsea Piers to support scholarship, diversity and recruitment programs throughout New York state. The event raised nearly $200,000 for the Moynihan Scholarship Fund. Members of Billy Joel’s own band, performing as Mike DelGuidice & Big Shot, played the music legend’s greatest hits.
  • Regulatory Roundup: June 21-27

    By:
    Ruth Singleton and Zach Simeone
    |
    Jun 27, 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.
  • Latest Phishing Scam Poses as Questions from Tax Software Education Provider

    By:
    Chris Gaetano
    |
    Jun 26, 2017
    The IRS is asking tax preparers to be on the lookout for a new phishing scam that claims to come from a tax software education provider and asks for an unusually large amount of personal information. 
  • Deloitte Values Great Barrier Reef at $42 Billion

    By:
    Chris Gaetano
    |
    Jun 26, 2017
    Deloitte Australia, in partnership with the Great Barrier Reef Foundation, issued a recent report that valued the Great Barrier Reef at $52 billion ($42 billion in U.S. dollars). 
  • TIGTA: IRS Missed More Than 500,000 Employment Identity Theft Victims

    By:
    Chris Gaetano
    |
    Jun 23, 2017
    The Treasury Inspector General for Tax Administration (TIGTA) said that employment identity theft is a much more widespread problem than initially thought, as the IRS did not identify more than 500,000 victims, even though identity thieves electronically filed tax returns with evidence that they used the victims’ Social Security Numbers (SSN) to gain employment.
  • Former Madoff Clients, Seeking to Retain Profits, Get Assistance From Madoff Himself

    By:
    Chris Gaetano
    |
    Jun 23, 2017
    Former clients of disgraced financier Bernie Madoff, defending themselves from a lawsuit on behalf of the victims of his multi-billion dollar Ponzi scheme, received some assistance from an unlikely source: Bernie Madoff himself. 
  • Number of Telecommuters More Than Doubled In a Decade

    By:
    Chris Gaetano
    |
    Jun 22, 2017
    Over the past ten years, the number of people who work from home at least half the time has more than doubled, growing 115 percent. Such people now make up about 3 percent of the workforce nationwide. 
  • PwC Adds Outsiders to Board

    By:
    Chris Gaetano
    |
    Jun 22, 2017
    PricewaterhouseCoopers has added two outside directors to its board, an unusual move for any U.S. Big Four accounting firm. 

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