Latest Articles

  • Report: Companies Spending More Time on SOX Compliance

    By:
    Chris Gaetano
    |
    Jun 25, 2019
    A recent report has found that companies are devoting more hours to complying with the provisions of the Sarbanes-Oxley Act, and while costs remain significant, they are slightly lower than previous years. 
  • Eighteen Billionaires Call for a Wealth Tax

    By:
    Chris Gaetano
    |
    Jun 24, 2019
    Eighteen billionaires have published an open letter calling for a "moderate" wealth tax on their own fortunes and those of their peers. 
  • Regulatory Roundup - June 18-24

    By:
    Chris Gaetano
    |
    Jun 24, 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. 
  • Supreme Court Rules That Residence Alone Does Not Confer Taxing Authority on Trusts

    By:
    Chris Gaetano
    |
    Jun 24, 2019
    The U.S. Supreme Court ruled unanimously that just because the beneficiary of a trust lives in a state, this does not give the state government unilateral authority to tax that trust. 
  • IRS Commissioner Disputes Reports of Enforcement Weakness, Notes Stats Are Closed Cases

    By:
    Chris Gaetano
    |
    Jun 21, 2019
    IRS Commissioner Charles Rettig, in a recent speech, disputed the notion that tax cheats are unlikely to ever get caught, noting that there's more to the statistics than meets the eye. 
  • SEC Back Up to Full Roster as Allison Lee Confirmed by Senate

    By:
    Chris Gaetano
    |
    Jun 21, 2019
    The Senate voted to confirm the addition of Allison H. Lee to the Securities and Exchange Commission, which had been missing a Democratic member to replace former commissioner Kara Stein. 
  • FASB 'Tentatively' Offers Reference Rate Reform Relief

    By:
    Chris Gaetano
    |
    Jun 20, 2019
    The Financial Accounting Standards Board (FASB) has "tentatively" approved relief for those affected by changes in reference rates following the phase-out of the London Interbank Offered Rate (LIBOR). 
  • SEC Overturns PCAOB Sanctions on Auditor

    By:
    Chris Gaetano
    |
    Jun 20, 2019
    The Securities and Exchange Commission (SEC), in a rare move, overturned sanctions leveled against an auditor by the Public Company Accounting Oversight Board (PCAOB). 
  • SEC Slightly Relaxes Rules on Auditor Independence

    By:
    Chris Gaetano
    |
    Jun 19, 2019
    The Securities and Exchange Commission approved an amendment that will change the analysis of determining when auditors can or cannot be considered independent when they have a creditor/debtor relationship with the audited entity. 
  • Australian Man Who Says He Invented Bitcoin Is Suing to Prove It

    By:
    Chris Gaetano
    |
    Jun 19, 2019
    Craig Wright, an Australian, has insisted that he is the mysterious Satoshi Nakamoto, the pseudonym behind the inventor of digital currency bitcoin, and while the cryptocurrency community has long been skeptical of these claims, he is now escalating his battle for recognition through a series of lawsuits against his critics.