Cybercrime is as ubiquitous as the Internet itself, and CPA firms and their clients are as vulnerable as anyone else to being hacked, scammed, or…
I enjoyed the joint interview with Tony Menendez and Steven Mintz, “The Ethical State of the CPA Profession” (December 2016). I would like to expand…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
Insurance companies are firsthand witnesses to losses and lawsuits incurred by professional accounting firms. While insurance companies obviously want to minimize payouts, it is certainly…
I started working for the NYSSCPA in the 1980s, when staffing a committee meeting meant I was likely the only woman in the room. Even…
AICPA Proposal Raises the Ethical Bar
Incorporating International Standards into the Code of Professional Conduct
In February 2017, the AICPA's Professional Ethics Executive Committee (PEEC) agreed to propose modifications to the Code of Professional Conduct that would require certain actions…
Developing Ethical Leaders for the Accounting Profession
Finding Inspiration from the Coast Guard Academy
The public relies on professionals. Medicine, teaching, law, accounting, the military, the clergy, and public safety, among many others, have all been regarded as honorable…
Applying the AICPA’s Professional Standards to Tax Practice
Best Practices for Minimizing Risk and Penalties
The AICPA's Statements on Standards for Tax Services (SSTS) are now an authoritative part of the Code of Professional Conduct. As such, they are now…
Forensic Accountants and Calculation of Value Reports
Recent Court Observations
Litigation matters often require that the value of specific assets or business be determined. The standards by which such valuations are arrived at can be…
Cybersecurity has been a key ingredient in recent business and political news. For CPA firms, this means that any effective risk management program must…
Three years ago, the server at the author's firm was hacked by a Russian scammer who got into the system by sending a phishing email…
According to the Federal Reserve (https://www.federalreserve.gov/releases/g19/current/), there was nearly $1.4 trillion in student loan debt outstanding in September 2016. About 60% of all college graduates…
It is always better, from a billings perspective, to have wealthy clients rather than poor ones. Sometimes, however, more satisfying work can be done for…
An individual who lives outside New York and maintains a place of abode in New York, even for occasional use, may be selected by the…
AUD | The Costs of Running Employee Benefit Plans
A Flaw in FASB’s Standards
Accounting guidance formerly contained in early editions of the AICPA's Audit and Accounting Guide, Employee Benefit Plans, has been replaced by FASB's ASC Topics 960,…
Much has been written on white-collar financial fraud. There are myriad books and articles on how to protect oneself from fraud, how to detect fraud,…
Accreditations and Designations for the Practicing CPA
Friends or Foes?
Aspiring CPAs work diligently to attain the CPA designation and to maintain that designation through mandatory continuing professional education (CPE) courses. Several issues often arise…
In April 2016, the Department of Labor (DOL) released the long-awaited final Fiduciary Rule amending the definition of the term “fiduciary” under the Employee Retirement…
What CPAs Need to Know about Cyber Insurance
Understanding the Threats and Policy Provisions
No business of any kind can operate in the modern digital environment without some risk of cyber attack or data breach. CPA firms are especially…