Latest Articles

  • 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. 
  • IRS Commissioner Sees Need for Practitioner Division

    By:
    Chris Gaetano
    |
    Jul 10, 2019
    IRS Commissioner Charles Rettig, a former tax practitioner himself, said recently that he has heard stakeholders outside the agency calling for a new division devoted to practitioners, and that he can see the need for one. 
  • FASB Seeking Input on Whether Goodwill Accounting for Intangibles Worth the Cost for Public Companies

    By:
    Chris Gaetano
    |
    Jul 10, 2019
    The Financial Accounting Standards Board (FASB) is seeking comments on the accounting for certain identifiable intangible assets acquired in a business combination and subsequent accounting for goodwill.
  • Regulators Exempt Small Banks from Volcker Rule

    By:
    Chris Gaetano
    |
    Jul 10, 2019
    A group of five financial regulators have released a joint final rule that exempts small banks from the crisis-era Volcker Rule that was implemented as part of the Dodd-Frank Act. 
  • IRS Announces Summer E-File Closures for Tech Upgrades

    By:
    Chris Gaetano
    |
    Jul 9, 2019
    The IRS announced that its IRS Modernized E-File system will close twice this summer as the service makes technical upgrades.