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Tax Implications of U.S. Budgetary Pressures: Uncertainty over the Tax Code and the Impetus for Reform

The accounting profession needs to be actively cognizant of the implications of the U.S. government’s recent failed attempts to resolve its budgetary impasses and bring its debt to a sustainable level. The U.S. Treasury’s stated debt stood at $15.3 trillion as of February 2012 and is projected to increase by more than $1 trillion in fiscal year 2012. On October 14, 2011, the AICPA sent a letter to the Joint Select Committee on Deficit Reduction (the so-called congressional supercommittee).

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April 2012 Issue

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Integrating Sustainability into the Reporting Process and Elsewhere: Obstacles and Best Practices for CPAs

U.S. Estate and Gift Taxation of Nonresident Aliens: An Examination of the Rules and Regulations

A Guide to Effective Audit Interviews

Deregulation: Let’s Not Forget What History Has Shown Us

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Shielding the Auditor from Corporate Fraud Liability: Recent Decisions and Rationale for the in Pari Delicto Defense

One of the strongest legal weapons available to audit firms sued by shareholders or creditors following revelations of corporate fraud is the defense of in pari delicto. This legal doctrine, over two centuries old, is grounded in the policy that a court should not intercede between two wrongdoers. Full Story

A New Business Plan for CPE

In the 40 years since its creation in 1972, the NYSSCPA’s Foundation for Accounting Education has established itself as one of the Northeast’s premier continuing professional education resources for high-quality, cost-effective seminars, conferences, and technical sessions for CPAs and other financial professionals.
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Reflecting a Company’s Safety Culture in “Fairly Presented” Financial Statements: The Case of BP

In June 2010, a class action lawsuit citing the oil and gas company BP’s “history of safety lapses, cost cutting and workplace disasters” was lodged in the U.S. District Court for the Eastern District of Louisiana on behalf of BP shareholders.
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The CPA Journal is broadly recognized as an outstanding, technical-refereed publication aimed at practitioners, educators, regulators, and other financial professionals. Our goal is to provide the Journal’s readers with insight and analysis on developments in the areas of accounting, auditing, taxation, finance, management, technology, and professional ethics.