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Latest Articles

  • Society Honors Past Leaders and Looks Ahead, at Installation Dinner

    By:
    Ruth Singleton
    |
    Jul 16, 2019

    On May 29, the NYSSCPA hosted “An Evening of Celebration with the 100th President,” to honor Ita M. Rahilly, who became the 100th president of the Society, succeeding Jan C. Herringer. The dinner took place at The University Club in Manhattan.

  • IRS Unveils New Draft 1040 for Senior Citizens

    By:
    Chris Gaetano
    |
    Jul 16, 2019
    The IRS has released the draft of the new Form 1040-SR, a new type of tax form made specifically for senior citizens. 

  • Securities Company Settles with SEC Over Deceptive Practices in Mortgage-Backed Securities

    By:
    Chris Gaetano
    |
    Jul 16, 2019
    The Securities and Exchange Commission (SEC) has reached a settlement with Nomura Securities International over charges that traders at  Nomura deceived customers about the nature of the commercial and residential mortgage backed securities they were selling. 

  • Hackers Pull Off $32M Cryptocurrency Heist

    By:
    Chris Gaetano
    |
    Jul 15, 2019
    Hackers targeted a Japanese cryptocurrency exchange, making off with $32 million worth of digital tokens. 

  • Unemployment Rate Losing Appeal as Economic Metric

    By:
    Chris Gaetano
    |
    Jul 15, 2019
    The unemployment rate, often taken for granted as an indicator of economic health, has been losing its appeal as today's low rates fail to induce the effects that should be present amid such conditions. 

  • Regulatory Roundup: July 9-15

    By:
    Chris Gaetano
    |
    Jul 15, 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. 

  • SEC Charges Accountant for Role in $6.2 Million Insider Trading Scheme

    By:
    Chris Gaetano
    |
    Jul 12, 2019
    The Securities and Exchange Commission (SEC) has filed charges against an accountants and her friend, to whom she is said to have given insider information about her company's quarterly performance announcement. 

  • PCAOB Releases Further Guidance on Critical Audit Matters

    By:
    Chris Gaetano
    |
    Jul 12, 2019
    The Public Company Accounting Oversight Board (PCAOB) has released further guidance on critical audit matters (CAMs), which are the centerpiece of the new expanded auditors' report. 

  • IRS Taxpayer Advocate Nina Olson, in Final Report, Calls for EITC Reform

    By:
    Chris Gaetano
    |
    Jul 11, 2019
    National Taxpayer Advocate Nina E. Olson, in her final report before her July 31 retirement, called for administrative reforms around the Earned Income Tax Credit (EITC) in order to make it easier to understand and more accessible to the taxpayers who need it most. 

  • Credit Suisse Analysis Warns of Investor Confusion From Lease Standard

    By:
    Chris Gaetano
    |
    Jul 11, 2019
    Credit Suisse warned that the Financial Accounting Standards Board's new lease rules, which moves all lease obligations from the notes to the balance sheet, may confuse investors due to inconsistent reporting and misleading data feeds. 
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