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CPA Evolution Aims for Radical Rethinking of Profession
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Read the Summer/Fall 2020 Issue (pdf)
Read our latest issue!
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No Change to Ethics CPE in January 2020
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SEC Seeks to Change Auditor Independence Rules
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First Mazars Female Partner Speaks on Diversity

Latest Articles

  • AI Is Both a Blessing and a Risk in Audit, Surveys Say

    By:
    Karen Sibayan
    |
    Oct 10, 2024
    Two recent survey reports examined the relationship between artificial intelligence and the audit function. The inaugural 2024 BDO Audit Innovation Survey showed that while companies expect their audit firms to use AI to better the audit process, these companies still think that working with experienced and effective audit professionals is just as important. Another report from Protiviti showed that while IT audit leaders and professionals do not think AI presents a high level of risk in the next 12 months, what comes further ahead is a different story. 

  • Auditors Scramble to Assess the Deluge of PCAOB Rule Changes

    By:
    Karen Sibayan
    |
    Oct 10, 2024
    US auditors are trying to assess a series of rule changes in the next couple of years that will impose stricter requirements for examining the books of some of the biggest companies worldwide. 

  • Agencies Publish Guidance on Long-Term, Part-Time Employees in 403(b) Plans 

    By:
    Karen Sibayan
    |
    Oct 9, 2024

    On Oct. 3, the IRS and Treasury Department issued Notice 2024-73 on long-term, part-time employees in 403(b) retirement plans under the SECURE 2.0 Act, which will apply to 403(b) plans starting in 2025, 

  • TIGTA Says IRS Still Needs to Review $42 Billion in ERC Claims Despite Its Best Efforts

    By:
    Karen Sibayan
    |
    Oct 9, 2024
    The IRS changed its policy for pre-refund examinations to expedite the processing of employee retention credit (ERC) claims. According to the Journal of Accountancy, the Treasury Inspector General for Tax Administration (TIGTA) stated in a report released Sept 30 that the IRS must consider reviewing roughly 185,000 claims totaling approximately $42 billion. 

  • Final Regulations Identify Abusive Syndicated Conservation Easement Transactions

    By:
    Karen Sibayan
    |
    Oct 8, 2024
    The Treasury Department and the IRS released final regulations on Sept. 7 identifying certain syndicated conservation easement (SCE) transactions as "listed transactions" or abusive tax transactions that should be reported to the agency. 

  • Healthcare Panel Gives Update on Specialty Areas, Including Important Deadlines

    By:
    Karen Sibayan
    |
    Oct 8, 2024
    Members from the NYCPA Health Care Committee spoke at the Foundation for Accounting Education's Healthcare Conference on Sept. 19 about the activities and updates in their specialty areas, such as acute care and nursing facilities.

  • IRS Sends 500 Workers to Help FEMA with Helene Disaster Relief and Postpones Filing Deadlines in More Affected Areas

    By:
    Karen
    |
    Oct 7, 2024
    To assist victims of Hurricane Helene, the IRS announced that it provided over 500 employees to help with the Federal Emergency Management Agency’s disaster relief call lines and also sent IRS Criminal Investigation (IRS-CI) agents into the devastated areas to help with search-and-rescue initiatives, together with other relief work.

  • 2024 Election Will Have Significant Tax Consequences

    By:
    Karen Sibayan
    |
    Oct 7, 2024
    This year’s presidential election may become one of the most significant in recent memory for the U.S. tax system. This is primarily because of the sunsetting provisions of the 2017 Tax Cuts and Jobs Act’s (TCJA).

  • Regulatory Roundup: October 1-7

    By:
    Karen Sibayan
    |
    Oct 7, 2024
    With so many regulators out there, it can be tough to keep track of all the decisions being made. This is the NYCPA'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.

  • Conference Speakers Discuss the Benefits and Risks of Technology in Healthcare

    By:
    Karen Sibayan
    |
    Oct 4, 2024
    Two speakers at the Foundation for Accounting Education's Healthcare Conference on Sept. 19 discussed the challenges and applications of technology in the healthcare industry. Joseph Horowitz, the director of compliance and audit at Stetson Cybergroup, spoke about cybersecurity risks, and Jim Wiggins, the founder and principal of Securible, discussed artificial intelligence (AI) applications. 
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