Latest Articles

  • Study: Tax Havens Hold 10 Percent of World GDP

    By:
    Chris Gaetano
    |
    Sep 14, 2017
    Researchers combing through the Panama Papers have found that about 10 percent of world GDP is held in offshore tax havens. 
  • Accounting Firms May Be Left Out of Tax Reform

    By:
    Chris Gaetano
    |
    Sep 14, 2017
    Treasury Secretary Steve Mnuchin said that accounting firms, as well as other service providers, will not benefit from lower tax rates that Republicans want to enact for other businesses. 
  • Survey: Corporate Board Members Divided on 'Critical Audit Matters'

    By:
    Chris Gaetano
    |
    Sep 13, 2017
    A survey conducted on 130 corporate directors of public company boards has found that there is a nearly even split about whether or not the inclusion of Critical Audit Matters as part of the PCAOB's new Expanded Auditor's Report would be useful. 
  • Court Orders Exxon to Release Accounting Documents for Climate Probe

    By:
    Chris Gaetano
    |
    Sep 13, 2017
    New York Attorney General Eric Schneiderman was victorious in a court battle ordering Exxon to release documentation regarding the accounting and reporting of oil and gas reserves, the evaluation of assets for potential impairment charges or write-downs, as well as energy-price projections and projected carbon-cost estimates.
  • Average Age of CFOs, CEOs Creeping Upward

    By:
    Chris Gaetano
    |
    Sep 12, 2017
    Research on c-suite executives has found that the average age for a CEO and CFO has crept upward since 2012 by about five years each. 
  • Study: People Invest More When Specific Risks Are Disclosed

    By:
    Chris Gaetano
    |
    Sep 12, 2017
    A recent study has found a link between risk-related specificity in the 10-Ks and increased market activity. 
  • Regulatory Roundup: Sept. 6-12

    By:
    Chris Gaetano
    |
    Sep 12, 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.
     
  • Study: 47 Percent of Newly-Created Data Records Have Critical Errors

    By:
    Chris Gaetano
    |
    Sep 11, 2017
    While much is said on how data analytics can provide new insights and solutions for business, a recent study has found that the quality of the data being analyzed leaves much to be desired, as 47 percent of studied samples have critical errors and only 3 percent would pass even the loosest of quality standards. 
  • Study: Internal Controls Weakness Associated With Increased Risk of Accounting Fraud

    By:
    Chris Gaetano
    |
    Sep 11, 2017
    A study published by the American Accounting Association has found that there is a strong association between material weaknesses in internal controls and future fraud revelation. 
  • Equifax Hacked, Personal Information of 143 Million Exposed

    By:
    Chris Gaetano
    |
    Sep 8, 2017
    Credit reporting agency Equifax said that hackers were able to access the personal information of 143 million U.S. consumers, which includes names, Social Security numbers, birth dates, addresses and, in some instances, driver's license numbers. This is approximately 44 percent of the total U.S. population of 323 million.