• 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. 
  • 15 Years After Enron, Arthur Andersen Brand Resurges

    By:
    Chris Gaetano
    |
    May 2, 2017

    Given the Arthur Andersen brand’s association with a major accounting fraud, one might think the name would have too much baggage to be something a company would want to take on, let alone fight for in court. And for a while, it was, according to Mark L. Vorsatz, CEO of Andersen Tax and an alumnus of the original Arthur Andersen firm.

  • Regulatory Roundup: April 26-May 2

    By:
    Zach Simeone & Ruth Singleton
    |
    May 2, 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: Fake Financial News Having Deleterious Impact on Decision-Making

    By:
    Chris Gaetano
    |
    Apr 28, 2017
    A recent survey has found that more than half of Americans, 58 percent, say that the proliferation of fake financial news, such as sponsored content that masquerades as a legitimate news post, is a serious threat to their financial decision making. 
  • New Study Finds You Can Consume About 4 Mugs of Coffee Per Day

    By:
    Chris Gaetano
    |
    Apr 28, 2017
    A team of scientists examined 700 different studies about how much caffeine is too much, and found that, in general, the answer is about 400 milligrams, which translates into about four eight-ounce diner mugs per day. 
  • White House Unveils Tax Reform Plan

    By:
    Chris Gaetano
    |
    Apr 27, 2017
    The White House released its proposed plan for tax reform, which the administration has branded "The Biggest Individual And Business Tax Cut in American History."
  • Study: Thanking People At End of Emails Makes Them More Likely to Respond

    By:
    Chris Gaetano
    |
    Apr 27, 2017
    A study of over 350,000 email threads analyzed an email scheduling company has found that you're most likely to get a response if you end your emails with a thank you. 
  • Big Companies: We Need More Accountants!

    By:
    Chris Gaetano
    |
    Apr 26, 2017
    A survey of more than 1,400 financial professionals in the U.S. and Canada has revealed that 62 percent of large companies report that they are understaffed on accounting and finance personnel. 
  • 17 Million Last-Minute Filers Make IRS Deadline Just Under the Wire

    By:
    Chris Gaetano
    |
    Apr 26, 2017
    Nothing like waiting til the last minute, eh? Accounting Today reports that the IRS got a surge of last minute returns right before the deadline closed out, 17 million, making an explosive last round in a season that began rather sluggish. 
  • Study: Number of SEC Registrants Dropped Near 40 Percent Since 2010

    By:
    Chris Gaetano
    |
    Apr 25, 2017
    The number of companies registering with the Securities and Exchange Commission has plummeted over 15 years, dropping nearly 40 percent since 2010. 
  • Survey Finds Millennials More Than Twice As Likely to Give Personal Info Over Phone

    By:
    Chris Gaetano
    |
    Apr 25, 2017
    A recent survey has found that although millennials are less likely to receive scam phone calls than other generations, they are more likely to give their personal information out over those same calls. 
  • Regulatory Roundup: April 19-25

    By:
    Chris Gaetano
    |
    Apr 25, 2017
    With so many regulators out there, it can be tough to keep track of everything they say from week to week. Luckily, we here at The Trusted Professional have collected relevant regulatory announcements from the past week and put them here in one place to help you stay on top of regulatory issues or matters.
        
  • SEC Considering Its Own Version of Delayed Fiduciary Rule

    By:
    Chris Gaetano
    |
    Apr 24, 2017
    The acting chair of the Securities and Exchange Commission said his agency could implement its own version of a Department of Labor regulation requiring the use of the fiduciary, rather than suitability, standard, which the Trump administration delayed before it could go into effect. 
  • Study: When It Comes to Acquisitions, Prestigious Firms Aren't Picky

    By:
    Chris Gaetano
    |
    Apr 24, 2017
    While an acquisition can be a fraught process requiring a great deal of discretion, a recent study has found that companies with high public prestige are a little more cavalier with their acquisitions, being more inclined to pick up all kinds of companies, even ones in completely unrelated markets. 

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