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The Trusted Professional | NYSSCPA

 
 
Gov. Hochul Signs Non-CPA Ownership Bill into Law
Read the July/August Issue
IRS to Waive $1B in Some Late Payment Penalties
2024 to Be a Demanding Year for Internal Auditors
SEC OKs Audit Confirmation Standards

Latest Articles

  • Survey: CFOs' Priorities Have Shifted in Past Year, With Security and Privacy of Data Rising to the Top

    By:
    Karen Sibayan
    |
    Sep 17, 2024
    The top finance priorities for CFOs and other finance leaders in the coming year, revealed in a recent survey from Protiviti, highlight the evolving nature of the CFO’s role and responsibilities.

  • SEC Quietly Shuts Down Its ESG Task Force

    By:
    Karen Sibayan
    |
    Sep 16, 2024

    The Securities and Exchange Commission (SEC) has stealthily shut down its Enforcement Division’s Climate and ESG Task Force . For more than three years, the task force assisted in bringing litigation to fight misleading environmental, socia, and governance (ESG) disclosures.

  • Treasury, IRS Propose Rules Implementing Nontaxable Status of Tribal General Welfare Benefits

    By:
    Karen Sibayan
    |
    Sep 16, 2024
    On Sept. 13, the Treasury Department and the IRS published proposed regulations to implement Section 139E of the Internal Revenue Code, created by the Tribal General Welfare Exclusion Act of 2014. The act allows tribal governments to offer nontaxable assistance and benefits to tribal members that can be excluded from their gross income for federal income tax purposes. 

  • Regulatory Roundup: September 10-16

    By:
    Karen Sibayan
    |
    Sep 16, 2024
    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.

  • Survey: Most Investors Use CAMs When Making Investment Decisions

    By:
    Karen Sibayan
    |
    Sep 13, 2024

    In a new survey on Critical Audit Matters (CAMs), the Center for Audit Quality (CAQ) found that 92% of investors use CAMs when making investment decisions. Further, 93% of investors say that CAMs play a crucial role in their analysis when deciding on possible investments.

  • Treasury, IRS Release Proposed Guidance on Corporate Alternative Minimum Tax; Comments Due Dec. 12

    By:
    Karen Sibayan
    |
    Sep 13, 2024
    On Sept. 12, the IRS and the Treasury Department released  proposed regulations offering guidance on the Corporate Alternative Minimum Tax (CAMT).

  • PCAOB Report: Bank Audit Teams Failed to Identify Certain Risks of Material Misstatement

    By:
    Karen Sibayan
    |
    Sep 12, 2024
    On Sept. 9, the Public Company Accounting Oversight Board (PCAOB) staff released a report stating that certain bank audits that the regulatory body reviewed involved instances where engagement teams failed to revisit initial risk assessments that preceded the 2023 bank failures as interest rates continued to rise.

  • IRS Pursues Exception from TikTok Ban in Order to Fight Tax Scams

    By:
    Karen Sibayan
    |
    Sep 12, 2024
    The IRS is searching for ways to circumvent the TikTok ban so that some of its employees can still go on the site to combat tax schemes.

  • IRS Extends Some Tax Deadlines to Feb. 3 for  Victims of Storms in New York and Connecticut

    By:
    Karen Sibayan
    |
    Sep 11, 2024

    Because of the heavy storms that landed in some areas of New York and Connecticut starting on Aug. 18, the IRS announced on Sept. 10 that it will offer tax relief to individuals and businesses affected by these storms, which included flooding. According to the IRS announcement, these individuals will have until Feb. 3, 2025, to file various federal individual and business tax returns and make tax payments.

  • SEC Approves PCAOB's New Quality Control Standard

    By:
    Karen Sibayan
    |
    Sep 11, 2024
    On Sept. 9, the Securities and Exchange Commission (SEC) approved the Public Company Accounting Oversight Board (PCAOB)’s new quality control standard and related changes to its standards, rules, and forms. This standard mandates that all registered public accounting firms identify the specific risks to their practice while designing a quality control system with appropriate responses to avoid those risks. 
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