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The Trusted Professional | NYSSCPA

 
 
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Firms Adapt to Changed Landscape for Clients, Revenue

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Dynamic Audit Solution: Transforming Audits
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NYS Enacts Recreational Cannabis Legalization

Latest Articles

  • Senators Solicit Input for Digital Assets Tax Policy

    By:
    S.J. Steinhardt
    |
    Jul 12, 2023
    The two leaders of the U.S. Senate Committee on Finance have asked the public for policy ideas regarding the taxation of digital assets.

  • IRS Whistleblower Awards Increased Last Year

    By:
    S.J. Steinhardt
    |
    Jul 11, 2023
    The Internal Revenue Service (IRS) awarded whistleblowers more money last year than in the previous fiscal year, but less than it had in previous years.

  • Lack of Skilled Accountants Leading to ICFR Material Weaknesses

    By:
    S.J. Steinhardt
    |
    Jul 11, 2023

    The shortage of qualified accountants has begun to affect financial statements made by some U.S.-listed companies.

  • CFOs React to ISSB Standards

    By:
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    Jul 10, 2023
    Now that the International Sustainability Standards Board (ISSB) has released its first two standards, American CFOs are waiting for more guidance from other regulators.

  • Companies Concerned About Potential Risks Posed by AI Tools at Work

    By:
    S.J. Steinhardt
    |
    Jul 10, 2023
    As generative AI tools become increasingly integrated into workplace tools, companies have banned or restricted their use by employees, fearful of the potential risks of disclosing confidential information.

  • Regulatory Roundup: July 1-7

    By:
    S.J. Steinhardt
    |
    Jul 7, 2023

    With so many regulators out here, 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.

  • Credit Unions Resilient Despite Recent Banking Sector Turmoil

    By:
    S.J. Steinhardt
    |
    Jul 7, 2023
    Credit unions—and not just large financial institutions such as JPMorgan Chase and Bank of America—benefited from the recent collapse of some regional banks.

  • IRS Committee Makes 26 Recommendations to Improve Taxpayer Experience, Including Updating 1099-K and Its Instructions

    By:
    Ruth Singleton
    |
    Jul 6, 2023
    The IRS Electronic Tax Administration Advisory Committee (ETAAC), in its 2023 Annual Report to Congress, has made a series of recommendations "for improving the taxpayer experience and reinforcing IRS accountability." The report makes a total of 26 recommendations, including one addressing the lower threshold amounts for Form 1099-K.

  • EY Survey: 96% of Businesses Are Transforming Tax and Operating Models

    By:
    Ruth Singleton
    |
    Jul 5, 2023
    An Ernst & Young survey of 1,600 tax and financial professionals found that 96 percent of businesses are transforming their tax and operating models, whether by building their own capabilities, outsourcing key functions to
    third-party vendors or some combination of the two.

  • Farewell to LIBOR

    By:
    S.J. Steinhardt
    |
    Jun 30, 2023
    After decades of transition, the London Interbank Offered Rate (LIBOR) will cease to be published as of next week.
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