• Over 200,000 Hit in Massive Cyber Attack

    By:
    Chris Gaetano
    |
    May 15, 2017
    A massive cyber attack has targeted over 200,000 people in 150 different countries, locking car factories, hospitals, shops and schools and demanding a ransom to restore functionality. 
  • Study: CEOs Who Graduated During Boom Times Backdated Stock Options 30 Percent More

    By:
    Chris Gaetano
    |
    May 15, 2017
    A recent study has found that CEOs who graduated during economic boom times were 30 percent more likely to falsify the dates of their stock option grants than those who graduated in economically lean periods. 
  • CEO Charged With Not Disclosing Generous Perks to Shareholders

    By:
    Chris Gaetano
    |
    May 12, 2017
    The Securities and Exchange Commission has charged Miles Nadal, CEO and chairman of MDC Partners, with failing to disclose generous perks worth millions of dollars to shareholders as required by federal securities law. 
  • Account Takeover Fraud Jumped 31 Percent in One Year

    By:
    Chris Gaetano
    |
    May 12, 2017
    Account takeover fraud, where scammers pose as the account holder and immediately drain their money, has been on the rise lately, with incidents of such schemes rising 31 percent between 2015 and 2016. 
  • Sustainability Conference Takes Practical Bent to Responsible Business

    By:
    Chris Gaetano
    |
    May 12, 2017

    Now in its second year, the Foundation for Accounting Education’s (FAE) upcoming Sustainability Investment Leadership Conference is focused on turning theory into practice when it comes to sustainable business practices. Scheduled for May 17 at the New York Bar Association, the conference will feature a number of talks on how CPAs can apply processes like integrated reporting, supply chain management and other topics in corporate sustainability to their own practices. 

  • How Does Your Pay Compare To Your Peers?

    By:
    Chris Gaetano
    |
    May 11, 2017
    Accounting blog Going Concern is asking CPAs and other professionals to participate in their first annual Accounting Salary Survey, which is meant to shed light on industry trends and relevant benchmarks to give workers a leg up in evaluating how their pay stacks up with the industry as a whole and, potentially, in negotiating better job offers. 
  • FASB Releases Update on Accounting for Stock Compensation

    By:
    Chris Gaetano
    |
    May 11, 2017
    The Financial Accounting Standards Board released a new Accounting Standards Update on stock compensation. 
  • NYSSCPA Award Winners for 2017

    By:
    Chris Gaetano
    |
    May 11, 2017

    The NYSSCPA honors John L. Kearney with the Distinguished Service Award; Denise M. Stefano with the Dr. Emanuel Saxe Outstanding CPA in Education Award; and Edward J. Torres with the Outstanding CPA in Government Award. 

     

  • SEC Charges Former Staffer With Securities Fraud

    By:
    Chris Gaetano
    |
    May 10, 2017
    In an irony worthy of Sophocles, the Securities and Exchange Commission has charged a former staffer with using government resources to make unauthorized trades for himself, his mother and a childhood friend. 
  • Deloitte Leads in New Audit Clients

    By:
    Chris Gaetano
    |
    May 10, 2017
    Deloitte so far leads the pack in the number of new SEC-registered audit clients, picking up more than any other firm in the first quarter of 2017. 
  • Tech Promises Less Drudge Work, But Will New Recruits Have the Skills Firms Need?

    By:
    Chris Gaetano
    |
    May 9, 2017

    While the CPA profession is certainly no stranger to technological advance, innovations like blockchain technology and artificial intelligence, as well as the increasing automation of routine tasks, promise to radically reshape the industry. It is a change that will affect not only what kind of work firms do, but whom they will hire to do it, something that will be particularly important for recent graduates who are entering an increasingly tech-centered profession.

  • Regulatory Roundup: May 3-May 9

    By:
    Chris Gaetano
    |
    May 9, 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.
  • Study: "Workplace Vigilantes" No Stranger to Office

    By:
    Chris Gaetano
    |
    May 8, 2017
    Ever meet someone who takes it upon themselves to enforce office policy, even though that's not at all their job? The type of person who, despite not being your manager, pillories you for coming into work two minutes late? Or leaving stuff in the fridge for too long? Or not wearing a tie? And then taxes management's attention by reporting it? You could be dealing with a workplace vigilante, a type of person that, according to a recent study, more than half of people have encountered at one point or another. 
  • NYS State Senators Propose Bill to Release Trump Tax Returns

    By:
    Chris Gaetano
    |
    May 8, 2017
    Democratic state senators in Albany have introduced a bill that, if passed, would require that the state-level tax returns of anyone elected to federal or state office in a statewide election, including the president and vice president, be posted online. 
  • House Republicans Pass Healthcare Measure, Bill Moves to Senate

    By:
    Chris Gaetano
    |
    May 5, 2017
    House Republicans have, after weeks of acrimonious bargaining, passed a bill that would repeal and replace the Affordable Care Act. 
  • One Accountant's Obsession with BMWs Cost Him His Family, His Freedom, and His CPA License

    By:
    Chris Gaetano
    |
    May 4, 2017
    Car blog Jalopnik tells the tale of a Colorado accountant who, over many years, embezzled almost half a million dollars from his employer in order to feed his addiction for BMWs: before going to jail, he had exactly 50 of them, stashed in locations around town so his wife wouldn't find out just how deep his obsession went. 
  • House Approves Measure Allowing Vacation Time in Lieu of Overtime Pay

    By:
    Chris Gaetano
    |
    May 4, 2017
    Right now if you work overtime, you get time and a half pay. But the House of Representatives recently approved a measure that, if signed into law, would give employers the choice of offering vacation time instead. 
  • One Settlement in Ongoing Legal Battle over Andersen Name

    By:
    Chris Gaetano
    |
    May 3, 2017

    Fifteen years after the collapse of Arthur Andersen, two firms are now battling in court over which is the true heir to its brand name, despite its associations with the Enron scandal, one of the largest accounting frauds of all time. However, on April 19, Andersen Tax announced that a settlement had been reached with MoHala Enterprises, which was running French firm Andersen International's U.S. offices. Litigation against other firms affiliated with the French firm over the name is ongoing.

     

  • Jay Clayton Approved as New SEC Chair

    By:
    Chris Gaetano
    |
    May 3, 2017
    The Senate approved corporate attorney Jay Clayton last night as the new chair of the Securities and Exchange Commission. 
  • SEC Settles With Korean Semiconductor Company Over Accounting Fraud Charges

    By:
    Chris Gaetano
    |
    May 3, 2017
    The Securities and Exchange Commission has agreed to a settlement with South Korean semiconductor company over charges that it overstated revenues for two years in a row to meet high-pressure sales targets. 

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