Latest Articles

  • AICPA-IFAC Report: Most ESG Assurance Reporting Provides Only Limited Assurance

    By:
    Chris Gaetano
    |
    Jun 24, 2021
    A report on the state of play in the current environmental, social and governance (ESG) arena, authored by the Association of International Certified Professional Accountants (AICPA) and the International Federation of Accountants (IFAC), says that the vast majority of assurance reporting in this space offers only limited assurance and, what's more, in the United States, the vast majority are completed not by CPA firms but by consultants.
  • PCAOB Puts Pause on New Advisory Standards Group Nominations as It Reassesses Structure

    By:
    Chris Gaetano
    |
    Jun 23, 2021
    The Public Company Accounting Oversight Board (PCAOB) said that it will be putting the nominations process for membership in the recently announced Standards Advisory Group on pause for now, as the organization assesses its stakeholder engagement efforts.
  • Bernie Sanders Proposes Partial Lifting of SALT Deduction Cap

    By:
    Chris Gaetano
    |
    Jun 23, 2021
    Sen. Bernie Sanders (I-Vt.), as part of a budget proposal, has suggested partially raising the $10,000 cap on state and local (SALT) tax deductions, an artifact of the previous administration that has long rankled Democrats.
  • Survey Finds Most States Will Not Tax PPP Loan Forgiveness as Income

    By:
    Chris Gaetano
    |
    Jun 23, 2021
    A survey of state tax departments has found that the majority of states will treat the forgiveness of Paycheck Protection Program (PPP) loans as nontaxable income, but this leaves some unfortunate people in other states, which will not.
  • Supreme Court Rules for Student Athletes in NCAA Pay Rule Case

    By:
    Chris Gaetano
    |
    Jun 22, 2021
    The U.S. Supreme Court, in a unanimous decision, ruled that colleges should be able to offer limited compensation to student athletes.
  • Regulatory Roundup - June 15-22

    By:
    Chris Gaetano
    |
    Jun 22, 2021
    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.
  • Fear of Capital Gains Tax Hike Drives Surge in Corporate Buyout Activity

    By:
    Chris Gaetano
    |
    Jun 22, 2021
    Company owners that, just recently, would have never thought about selling are suddenly  very eager to find buyers, as businesses digest the implications of possible tax hikes in the future, especially on capital gains.
  • Report: Onboarding Remote Workers Takes Skill

    By:
    Chris Gaetano
    |
    Jun 22, 2021
    The pandemic taught companies that many jobs that they thought required physical presence could be done remotely, but this discovery in turn has raised new questions about how to onboard remote workers, who may have never seen the physical office.
  • House Passes Bill That Would Require SEC to Standardize ESG Disclosure Info

    By:
    Chris Gaetano
    |
    Jun 18, 2021
    The House of Representatives has passed a bill, the ESG Disclosure and Simplification Act, which would mandate that the Securities and Exchange Commission (SEC) both create a standard definition of environmental, social and governance (ESG) metrics and  require standardized ESG disclosures.
  • Hamilton Ticket Scammer, Already in Jail, Charged With Repeat Performance

    By:
    Chris Gaetano
    |
    Jun 18, 2021
    A man already in jail for running a Ponzi scheme based on sales of tickets to the hit musical Hamilton is being charged again for perpetuating effectively the same scam five months after his first arrest.