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New York news


Ernst & Young charged with civil fraud for role in Lehman collapse

The New York Attorney General has filed a lawsuit against Ernst & Young, accusing the firm of helping Lehman Brothers hide its financial weakness from investors from 2001 until the investment bank collapsed in 2008.

Here a loophole, there a loophole

Most of the richest Americans that populate the annual Forbes 400 list gained their wealth by owning founders' stock. Allowing favorable tax treatment on this stock might be costing taxpayers by $100 billion a year, or $1 trillion over ten years.

Thomson Reuters offers analysis of Tax Relief Act on Checkpoint

The Tax & Accounting business of Thomson Reuters has issued an analysis of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010.

AICPA recommends changes to SEC proposed ruling for family offices

A proposed ruling from the U.S. Securities and Exchange Commission exempts family offices from any requirement to register with the SEC under the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Community News

Accounting firms named best places to work in New York City

Four accounting firms recently were named to the list of 50 Best Places to Work by Crain's New York Business: Anchin Block & Anchin, Citrin Cooperman, Ernst & Young, and Friedman.

SEC has five prominent fraud cases in one month

July was a busy month for the SEC. Five of the enforcement cases charged or settled that month involved large, well-known companies, including KBR, Goldman Sachs, Dell, General Electric, and Citigroup.

More famous people in hot water with the tax man

Another bunch of celebrities is in trouble with Uncle Sam over tax debt. Singer Kelly Rowland, Eddie Murphy's ex-wife, and actor Cary Elwes are the latest.
Community News

Deloitte, PricewaterhouseCoopers top 'best firms' lists, a source of ratings, rankings, and insight for students and professionals, recently released lists of top accounting firms in various categories, including: best to work for, prestige, and quality of life.

Tax Foundation releases state business tax index

South Dakota's tax system is most welcoming to economic activity while New York's tax code ranks 50th as the least hospitable, according to the Tax Foundation's most recent edition of the State Business Tax Climate Index, which ranks the tax systems of the 50 states.
Practice Development

Survey: 82% of top 100 accounting firms tie new tech to client retention, firm growth

The largest U.S. accounting firms believe they are nearly 100 percent focused on client needs and expectations, and perceived by their clients as technologically savvy, with the adoption of paperless and cloud-based technologies, according to a recent survey.
Community News

Morrison & Company merges with WithumSmith+Brown

Forensic accounting firm Morrison & Company, P.A., has merged with New Jersey-based CPA firm WithumSmith+Brown, P.C. Effective this week, the union adds 14 professionals to the WS+B roster.
Education & Careers

Small business employment index indicates 49,000 new jobs; wages down slightly

Small business employment continued to show growth in November, although wages were down and hours worked remained flat, according to this month's Small Business Employment Index by Intuit Inc.
Community News

SUNY wins Long Island College Accounting Challenge

Now that the third Long Island College Accounting Challenge is over, it's time to recognize the competition, celebrate the victors, and start planning for next year. Students of SUNY at Old Westbury emerged victorious for the second time in three competitions.
Community News

Company announcements: Week of November 22

Following is the latest roundup of firm news for the week of November 22, 2010.

SEC charges two Madoff employees with fraud

The Securities and Exchange Commission has charged a pair of longtime employees at Bernard L. Madoff Investment Securities LLC with playing key roles in the Madoff Ponzi scheme.

Rep. Charles Rangel gets his day in court, faces an unexpected loss

Rep. Charles Rangel (D-N.Y.) once again is in the news for ethics violations. For more than two years, Rangel, the former chairman of the House Ways and Means Committee, has been the target of an investigation involving a growing list of charges.

Is Gen X facing a mid-life crisis or getting ready to lead?

The arts reflect the culture that the artists are observing, so what do the patterns and kernels of truth in the films, books, etc, of today tell us? What will engage members of Generation X to be the leaders and achievers they need to be?
Community News

Citrin Cooperman acquires firms in New York, New Jersey; may acquire more in 2010

Citrin Cooperman this week announced that New York-based Wlodinguer, Erk & Chanzis and New Jersey-based Rose, Dratch & Gilbert have joined the regional accounting and business consulting firm.
Community News

Company announcements: Week of November 15

Following is the latest roundup of firm news for the week of November 15, 2010.

What voters said about tax hikes in November elections

As lawmakers try to solve budgetary shortfalls by raising taxes in most states, taxpayers are not pleased, and they said so earlier this month at the polls.


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