Latest Articles

  • IASB Releases New Conceptual Framework

    By:
    Chris Gaetano
    |
    Mar 29, 2018
    The International Accounting Standards Board (IASB) has released its new conceptual framework that will underpin all of its standards-setting activities in the near future. 
  • Federal Court Rules You Have a Right to an Accounting Expert When Interviewed by PCAOB

    By:
    Chris Gaetano
    |
    Mar 28, 2018
    A federal court sided with a former Ernst and Young partner who'd been suspended for violating auditing standards, agreeing with the ex-partner's argument that the PCAOB should not have denied his request to also have an accounting expert accompany him to assist his counsel.
  • Google Loses Court Appeal to Oracle, May Need to Pay Largest Copyright Loss in HIstory

    By:
    Chris Gaetano
    |
    Mar 28, 2018
    One of the largest software companies in the world has prevailed in federal appeals court over Google, which it had accused of violating its patents when using Java to build the Android platform, which could result in damages so large it would set a world record. 
  • Bipartisan Bill Proposes First Major IRS Overhaul Since 1998

    By:
    Chris Gaetano
    |
    Mar 27, 2018
    House Ways and Means Oversight Subcommittee Chairman Lynn Jenkins (R-Kan.) and ranking member John Lewis (D-Ga.) have released draft legislation that, if implement, would be the first major overhaul of the IRS since 1998. 
  • NYS Comptroller: Tax Law Spiked 2017 Bonus Pool for Securities Industry

    By:
    Chris Gaetano
    |
    Mar 27, 2018
    New York State Comptroller Thomas P. DiNapoli said the securities industry spent 17 percent more on bonuses in 2017, growing to $31.4 billion, which he said was likely an effect of recent changes to federal tax law.
  • Regulatory Roundup: March 21-27

    By:
    Chris Gaetano
    |
    Mar 27, 2018
    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 ‚Äč‚Äčannouncements from the past week, and puts them in one place to help you stay on top of the issues.
  • SEC Shuts Down Alleged Ponzi Schemer Who Said Investors Will Never Suffer Loss

    By:
    Chris Gaetano
    |
    Mar 26, 2018
    The Securities and Exchange Commission shut down an alleged Ponzi scheme run by a man who it believes swindled investors out of $250,000 by telling them that they will incur absolutely no losses before then proceeding to incur massive losses. 
  • Industries With Most Turnover Include Finance, Professional Services

    By:
    Chris Gaetano
    |
    Mar 26, 2018
    Finance and professional services businesses rank among the highest in terms of staff turnover, according to an examination of LinkedIn data. 
  • SEC Takes Aim at Cryptocurrency Hedge Funds

    By:
    Chris Gaetano
    |
    Mar 23, 2018
    The Securities and Exchange Commission plans to examine as many as 100 cryptocurrency-based hedge funds as part of a larger effort to make the notoriously anarchic market a little less Wild West. 
  • Credit Bureaus to Remove Tax Liens From Credit Reports

    By:
    Chris Gaetano
    |
    Mar 23, 2018
    Equifax, Experian and TransUnion, the three major credit reporting companies, will no longer list tax liens on Americans' credit reports.