Latest Articles

  • Regulatory Roundup - Aug. 20-26

    By:
    Chris Gaetano
    |
    Aug 26, 2019
    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.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.
  • B Corporations Challenge Business Roundtable to Put Money Where Mouth Is on Stakeholder-Driven Perspective

    By:
    Chris Gaetano
    |
    Aug 26, 2019
    An association representing B corporations—businesses organized with a social as well as a financial purpose in mind—reacted to a recent Business Roundtable statement declaring an end to shareholder primacy by challenging its members to follow through by certifying their new outlooks to make them legally binding. 
  • KPMG's U.S. CEO and Chair Declares She Won't Seek Second Term

    By:
    Chris Gaetano
    |
    Aug 26, 2019
    Lynn Doughtie, CEO and chair of KPMG in the United States, has announced that she will not be seeking a second five-year term and will step down in June. 
  • PCAOB Releases Guidance on Auditing Estimates and Auditor’s Use of the Work of Specialists

    By:
    Chris Gaetano
    |
    Aug 23, 2019
    The Public Company Accounting Oversight Board (PCAOB) has released four new staff guidance documents outlining implementation of new rules concerning auditing estimates and the use of specialists.  
  • IRS Warns of New Impersonation Scam Using Spoofed Government Websites

    By:
    Chris Gaetano
    |
    Aug 23, 2019
    The IRS has been receiving reports of a new email scam that directs people to websites that greatly resemble its own in order to glean personal information from victims. 
  • Nellie Gomez to Retire After 42 Years at the Society

    By:
    Ruth Singleton
    |
    Aug 23, 2019
    Committees Manager Nereida “Nellie” Gomez, a mainstay of the NYSSCPA for 42 years, has announced her retirement. Her last day in the office will be Friday, Sept. 27. The response from Society leaders was swift and effusive—full of praise for her and sadness over her departure.
  • PCAOB Continues to Find High Deficiencies in Broker-Dealer Audits

    By:
    Chris Gaetano
    |
    Aug 22, 2019
    The Public Company Accounting Oversight Board (PCAOB) said in a recent report that the percentage of deficiencies for audit and attestation engagements for broker-dealers remains high, and continuous improvement is still needed. 
  • Kraft and Mondelez Sue CFTC, Saying Agency Spilled the Beans on Charges of Market Manipulation

    By:
    Chris Gaetano
    |
    Aug 22, 2019
    Kraft and Mondelez (a company spun out from Kraft) have filed suit against the Commodity Futures Trading Commission (CFTC), saying that the agency wasn't supposed to tell anyone that the companies paid a $16 million fine to settle allegations that they were deliberately driving the price of wheat low by buying up a large number of futures contracts. 
  • White House Says It Is Mulling Payroll Tax Cut

    By:
    Chris Gaetano
    |
    Aug 21, 2019
    President Trump said that he has been considering a payroll tax cut shortly after his advisers denied that such talks were taking place. 
  • NY Fed: Few Small Sole Proprietorships Make Profit, Most Operate at Loss

    By:
    Chris Gaetano
    |
    Aug 21, 2019
    A report by the New York Federal Reserve has found that most small sole proprietorships (those making under $100,000 annually) are either operating at a loss or breaking even, with those actually making profit being in the minority.