Members in the News
Salvatore Collemi, Ed Mendlowitz, and Jordan Frey (Manhattan/Bronx)
IMA CEO Jeff Thomson favors accountants over robots
Accounting Today
October 4, 2017
Institute of Management Accountants president and CEO Jeff Thomson unveiled a new campaign to emphasize the value of management accountants as more jobs fall prey to robots and automation. During a speech Monday at a meeting of the Accountants Club of America in New York, Thomson discussed how accountants can deal with the threat of automation by learning new skills and technologies to stay on top of the latest trends. He also showed a new advertising campaign for the IMA’s Certified Management Accountant credential in which a robot gives up its seat at a conference room table to accommodate an accountant, telling him, “Sorry, I was just keeping your seat warm.” The commercial can be viewed on YouTube.
NYSSCPA PCAOB Auditor's Report Panel – Jan Herringer (Manhattan/Bronx)
SEC Must Rule on Auditor Revamp That Big Companies Oppose
Bloomberg BNA
October 4, 2017
The SEC in October will decide the fate of a proposal to expand the auditor’s report that some of the largest U.S. companies—Chevron Corp., Nike Inc., FedEx Corp., UnitedHealth Group, Nasdaq Inc., and 10 other companies and 13 trade groups—oppose. However, investors and accounting firms generally support the PCAOB’s enhanced auditor’s report, which will have auditors go beyond the traditional simple pass/fail determination and offer information on what areas of a company’s financial reporting kept the auditor and audit committee up at night. The PCAOB in June voted out the planned rule. Speakers at a Sept. 25 forum on the expanded auditor’s report shied away from outright predictions of the outcome of the SEC vote on the PCAOB measure, which calls for the external auditor to single out “critical audit matters” that proved particularly challenging for the auditor and audit committee. However, the SEC hasn’t ever rejected a PCAOB rule on auditing, said participants in a panel discussion held by the New York State Society of CPAs.
NYSSCPA Healthcare Conference
Helgerson Says Reforms Need to Move Quickly
Politico New York Health Care Digest
October 2, 2017
New York's health care delivery system must radically reform in the next decade or it will be swamped by the costs and demands of a boomer population that begins to turn 80 years old in 2026, according to Jason Helgerson, the state Medicaid director. "If we don't get ourselves and our own house in order ... we are on a crash course for a very, very bad outcome," Helgerson said Wednesday during a health care conference in lower Manhattan sponsored by the New York State Society of CPAs.