New York State Society Of Cpas

TO CULTIVATE, PROMOTE, AND DISSEMINATE KNOWLEDGE AND INFORMATION CONCERNING CERTIFIED PUBLIC ACCOUNTANTS.

MEMBERSHIP SERVICESNYSSCPA PRODUCED 10 COMMENT LETTERS DURING THE 2022-2023 FISCAL YEAR THAT WERE SENT TO REGULATORS SUCH AS THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB), AMERICAN INSTITUTE OF CPAS (AICPA) PROFESSIONAL ETHICS EXECUTIVE COMMITTEE, INTERNATIONAL SUSTAINABILITY STANDARDS BOARD (ISSB), NATIONAL ASSOCIATION OF STATE BOARDS OF ACCOUNTANCY (NASBA), NEW YORK STATE OFFICE OF CANNABIS MANAGEMENT, AICPA AND THE INSTITUTE OF INTERNAL AUDITOR (IIA). A LETTER WAS ALSO SENT TO THE DORMITORY AUTHORITY OF THE STATE OF NEW YORK (DASNY) AND NEW YORK STATE OFFICE OF CANNABIS MANAGEMENT (OCM) REGARDING THE SELECTION OF CPAS AND ACCOUNTING FIRMS BY CONDITIONAL ADULT-USE RETAIL DISPENSARY (CAURD) APPLICANTS AND LICENSEES.THESE MORE THAN 50 COMMITTEES MET, COLLECTIVELY, MORE THAN 400 TIMES IN THE 2022-2023 FISCAL YEAR AND PRODUCED NEARLY 20 FULL-DAY CONFERENCES AS PART OF THEIR ANNUAL ACTIVITIES, INCLUDING THE 44TH ANNIVERSARY EDITION OF THE ANNUAL NOT-FOR-PROFIT CONFERENCE. NYSSCPA COMMITTEES ALSO PROVIDE A FORUM FOR HIGH-LEVEL TECHNICAL DISCUSSION AND PROFESSIONAL RESOURCES, SKILL DEVELOPMENT AND NETWORKING OPPORTUNITIES FOR THE MEMBERSHIP AS WELL AS FOR EXTERNAL AUDIENCES.ADVOCACY PLAYED A BIG ROLE IN THE 2022-2023 FISCAL YEAR FOR THE NYSSCPA. THE NYSSCPA MODIFIED ITS ANNUAL LEGISLATIVE AGENDA TO CONTINUE ITS WORK STRENGTHENING THE PROFESSION AND CONTINUING TO PROTECT THE PUBLIC THAT THE PROFESSION IS LICENSED TO SERVE. THE NYSSCPA'S GOVERNMENT RELATIONS TEAM WAS ABLE TO WORK WITH THE NEW YORK STATE LEGISLATURE AND EXECUTIVE BRANCH TO SCORE MAJOR WINS WITH BILLS EFFECTING PASS-THROUGH ENTITY TAX (PTET) AND EXTENDING IMPORTANT TAX FILINGS. THE PTET BILL PROVIDED FOR THE OPTION OF FILING AS AN "ELECTING RESIDENT S CORPORATION", AS DEFINED AS "AN ELECTING S CORPORATION THAT CERTIFIES AT THE TIME OF ITS ELECTION THAT ALL ITS SHAREHOLDERS ARE RESIDENT OF NEW YORK FOR PURPOSES OF ARTICLE TWENTY-TWO OF THIS CHAPTER." THE RESIDENT S CORPORATION WOULD EXIST IN DISTINCTION FROM AN "ELECTING STANDARD S CORPORATION." IN ADDITION, THE LEGISLATION INCLUDED A PROVISION ESTABLISHING A CITY PASS-THROUGH ENTITY TAX FOR ELECTING CITY PARTNERSHIPS AND CITY RESIDENT S CORPORATION. THE NYSSCPA TEAM WORKED WITH STATE SENATOR JOHN LIU AND ASSEMBLY MEMBER AMY PAULIN TO PREVENT UNEVEN TAX DEADLINES BETWEEN THE STATE TAX DEPARTMENT AND THE IRS BY AUTHORIZING THE COMMISSIONER OF TAXATION AND FINANCE TO EXTEND THE STATE TAX FILING DEADLINES BEYOND THE 90-DAY PERIOD IF THE FEDERAL TAX DEADLINES HAVE BEEN EXTENDED. THE NYSSCPA CONTINUED ITS ONGOING EFFORTS TO ADVOCATE FOR AN EXTENSION TO THE PRESENT E-SIGNATURE LAW, REFORMING LANGUAGE AROUND THE FALSE CLAIMS ACT, ENACTING NON-CPAS ACCESS TO OWN MINORITY SHARES IN CPA FIRMS, AND FINANCIAL LITERACY IN SCHOOLS. TO HELP MEMBERS STAY ABREAST OF THE NYSSCPA'S ACTIVE LEGISLATIVE EFFORTS, THE NYSSCPA MAINTAINED THE LEGISLATIVE UPDATE. THE LEGISLATIVE UPDATE IS A VIRTUAL NEWSLETTER THAT COVERS AN IN-DEPTH, HIGH-LEVEL LOOK INTO THE NYSSCPA ADVOCACY EFFORTS, HOW THEY ARE WORKING ON BEHALF OF MEMBERS, LEGISLATIVE VICTORIES, SPOTLIGHTS ON THE LEGISLATIVE AGENDA, NEWS ARTICLES, NYSSCPA COMMENT LETTERS AND MORE. THE NYSSCPA CONCLUDED THE FISCAL YEAR ON A HIGH NOTE CELEBRATING 126 YEARS AS A STATE SOCIETY AT ITS ANNUAL MEETING IN MAY.

NYSSCPA CHAPTERSEACH YEAR, THE NYSSCPA OFFICERS AND CEO MEET WITH THE SOCIETY'S CHAPTERS TO PROVIDE AN UPDATE TO MEMBERS ABOUT THE SOCIETY'S ACTIVITIES AND COLLECT FEEDBACK REGARDING THE SOCIETY'S PRIORITIES, PROGRAMS AND VALUE TO MEMBERS. MULTIPLE CHAPTERS COLLABORATED AND HELD TOWN HALLS/PIUS, AND CPA ETHICS UPDATE MEETINGS.

THE CPA JOURNALTHE CPA JOURNAL, THE VOICE OF THE PROFESSION, IS THE NYSSCPA'S FLAGSHIP PUBLICATION AND AN INTERNATIONALLY RECOGNIZED BI-MONTHLY, DOUBLE-BLIND PEER REVIEWED PUBLICATION. THE CPA JOURNAL FOCUSES ON THE TECHNICAL, PRACTICAL, AND INFORMATIONAL NEEDS OF CPAS AND OTHER ACCOUNTING AND FINANCE PROFESSIONALS. THIS YEAR MARKED THE 93RD YEAR OF CONTINUOUS PUBLICATION IN ANOTHER YEAR OF CHALLENGES FOR THE PROFESSION. THE JOURNAL HAS RESPONDED QUICKLY TO THE CHALLENGES FACING PRACTITIONERS BY PROVIDING ACTIONABLE GUIDANCE AND INSIGHTFUL ADVICE RELATING TO STAFFING SHORTAGES, MANAGING A REMOTE WORK FORCE, CYBERSECURITY TECHNIQUES TO ENSURE FINANCIAL INTEGRITY AND SECURITY AND HANDLING THE NEW REGULATORY ENVIRONMENT. OVER THE PAST FEW YEARS, IN ADDITION TO THE PANDEMIC, A SERIES OF SIGNIFICANT EVENTS OUTSIDE OF THE PROFESSION INFORMED A NUMBER OF ARTICLES AND CREATED NEW COLUMNS ON DIVERSITY, EQUITY, AND INCLUSION, AGEISM AND OTHERS. ARTICLES FOCUSED ON THE BENEFITS TO FIRMS AND THE PUBLIC OF A MORE DIVERSE AND INCLUSIVE PROFESSION IN SERVICE TO THE PUBLIC. THE CPA JOURNAL ALSO PUBLISHED ARTICLES ON HOW TO HAVE A CONVERSATION ABOUT RACE AND RACISM WITHIN ACCOUNTING FIRMS AND HOW TO RECRUIT AND RETAIN A DIVERSE WORKFORCE. FOR THE FIRST TIME, CPA JOURNAL FEATURED ARTICLES WRITTEN BY LEADERS OF THE CHINESE AMERICAN SOCIETY OF CPAS. IN RECENT YEARS, THE QUALITY OF THE JOURNAL'S CONTENT HAS BEEN RECOGNIZED BY FOLIO, PLACING THE MAGAZINE AS A FINALIST IN FOUR CATEGORIES IN THE PREMIER EDDIE AND OZZIE AWARDS CEREMONIES AND IN FIVE CATEGORIES AT THE FOLIO MAGAZINE AWARDS CONFERENCE. IN ADDITION, THROUGH OUR OPEN ACCESS WEBSITE, CPAJOURNAL.COM CONTINUES TO GROW. WITH WEEKLY RELEASES, OUR MONTHLY VIEWERSHIP HAS EXCEEDED OVER 200,000 MONTHLY VIEWERS AND OVER 2.1 MILLION VIEWERS FOR THE YEAR, MAKING CPAJOURNAL.COM AMONG THE TOP LEADING ONLINE PROFESSIONAL PUBLICATIONS ON THE INTERNATIONAL ACCOUNTING AND FINANCE LANDSCAPE. THE SITE ALSO CONTINUES TO ADD NEW EPISODES OF OUR AWARD-WINNING VOICES OF THE PROFESSION VIDEO SERIES WHICH FEATURES INTERNATIONAL ACCOUNTING LUMINARIES AND GLOBAL THOUGHT LEADERS.