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News

The Trusted Professional | NYSSCPA

 
 

Features

  • Embracing the next generation of the profession

    By:
    |
    Mar 12, 2014
    When the NYSSCPA moved into its new headquarters on Wall Street last summer, I said, among other things, that I was proud to be the Society’s president during such a marvelous time of change. I wasn’t just referring to our physical relocation, but to the systemic shift that has taken place at the State Society over the past several years. We have made a concerted effort not just to be leaders within the profession, but innovators, and to tailor our efforts as an organization with the future in mind.

  • NYSSCPA Members Offer Free Tax Advice

    By:
    RICHARD J. KORETO
    |
    Feb 24, 2014
    Continuing a long tradition, Society members are once again are sitting on tax advice panels at various newspaper offices around the state. In mid-February, members gathered at the offices of Newsday to take questions that ranged from simple yes/no situations to highly complicated scenarios that would require further investigation. Sometimes the CPAs gave welcome news, and sometimes disappointing news, but they always left the taxpayers more enlightened.

  • End of the road for Windows XP poses challenges for businesses

    By:
    CHRIS GAETANO
    |
    Feb 20, 2014
    Microsoft plans to end support for its 12-year-old Windows XP operating system (OS) on April 8, which means that the company will no longer provide security patches, technical assistance and other forms of service for those still using the software—a development that could leave businesses at increased risk of cyberthreats and other glitches if they don’t upgrade. - See more at: file:///T:/TrustedProfessional/2014/02-feb/feature/stories/windows-xp.html#sthash.OYWLW9QG.dpuf

  • Marc A. Siegel, Financial Accounting Standards Board member

    By:
    CHRIS GAETANO
    |
    Feb 20, 2014
    NYSSCPA member Marc A. Siegel was appointed to the Financial Accounting Standards Board (FASB) in 2008 and reappointed for a second term in 2013. A forensic accounting expert with a wide-ranging background in industry, he has helped to bring an investor perspective to the board. Siegel recently spoke with The Trusted Professional about what we can expect from the FASB in 2014.

  • Bitcoin Gets the Full Treatment in New York

    By:
    RICHARD J. KORETO
    |
    Feb 20, 2014
    To many, virtual currencies—of which Bitcoin is the best-known—are anything from a fad that will soon fade to an unwitting tool of drug runners that should and will be shut down soon. But in New York—a world financial leader since the 17th century—both the state Department of Financial Services and the local U.S. attorney's office are voicing opinions on the future of virtual currencies. And some sophisticated people in the legal and financial communities joined them in exploring tantalizing and troubling world of virtual currencies, while thousands listened and the press took notice.

  • Risk exposures in tax-related services: what you need to know

    By:
    Randy R. Werner, J.D., LL.M./Tax, CPA
    |
    Feb 18, 2014
    There are several steps that firms can take to minimize areas of risk in tax-related services provided to clients; to help illustrate that point, we’ve outlined three key strategies here. 

  • Back to basics in IT risk assessment

    By:
    Yigal Rechtman, CPA
    |
    Feb 17, 2014
    Information technology has taken a starring role in the risk assessment process that accompanies the planning, execution and conclusion of the audit, now that the capturing, processing, storing and reporting of information have become almost exclusively computerized. Given how central its use is, it’s always a good idea to review the basics and understand just what the audit standards say with respect to IT.
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