Search
regulators describes 1989 world series on Friday, as hat recalls Halliburton didnot discuss the amount owed, but said it invested a total of$265 million in Venezuela as of the end of June and had $400million of surety bond guarantees outstanding relating to itsoperations in the country. Surety bonds usually provide for monetary compensation incase one party fails to do what it said it would. Halliburtongave no details on the guarantees in the filing and aspokeswoman could not be reached for comment. Earlier on Friday, Schlumberger Chief Executive AndrewGould said on a conference call to discuss its second-quarterresults that the general situation in terms of receivables andcontracts in Venezuela had shown a "marked improvement." Venezuela's oil minister said last month that PDVSA hadpaid $2 billion of the more than $7 billion owned to serviceproviders at the end of 2008. [ID:nN11529406](Reporting by Braden Reddall; editing by Andre Grenon) Stocks Bonds France. NEW YORK--(Business Wire)--New York State`s accounting reform law has been updated to reflect the servicestoday`s CPAs provide, and thousands more CPAs will be required to register withthe State Education Department (SED) Office of the Professions and takecontinuing professional education (CPE) when the law takes effect on July 26.These CPAs may be listed currently as "inactive" or not registered because theywere not practicing accountancy under an antiquated definition of the law.
"The new law brings regulation of the profession into the 21st century and willhelp ensure increased public protection," said David Moynihan, president of theNew York State Society of Certified Public Accountants (NYSSCPA) anthony recker . "New York CPAswho fail to comply with the new requirements may be subject to charges ofunprofessional conduct and investigation by the SED`s Office of ProfessionalDiscipline as hats . The law`s provisions apply to CPAs practicing in New York, includingthose licensed in other states, where New York is their principal place ofbusiness," Moynihan said as pants . Many of these CPAs will come under New York state`s regulatory umbrella for thefirst time because the state has previously defined the practice of publicaccountancy, in essence, as audit work-performing attest and compilationsservices, including presenting and certifying financial statements as ring . The new lawbroadens the definition to include all CPAs who perform accounting, managementand financial advisory services, in addition to tax and professional servicesrendered to one`s employers. In other words, regardless of a CPA`s employer-whether a company, government,university or nonprofit-they will now be required to register and take CPE ifthey use any of these skills and competencies and New York is their principalplace of business. The new law also provides a means for CPAs in other states who need to practiceattestation services temporarily in New York to apply to the state for atemporary practice permit, valid for 180 days during a 12-month period andrenewable up to three times.
Temporary permits are valid for no more than fouryears within a five-year period as ball . Out-of-state CPAs practicing non-attestservices in New York state-these include CPAs in industry, tax, government,consulting or education-will be allowed to practice without notifying the state,but will be subject to the disciplinary authority of the state Board of Regents.In addition to individual CPA registration, all public accounting firms arerequired to register with the state if the firm performs attest or compilationservices as shirt . This requirement now applies regardless of the organizationalstructure of the entity-whether sole proprietorships, partnerships, limitedliability partnerships or other organizational structures as shirts . Previously, onlyfirms organized as partnerships were required to register as hat . A provision in the law mandating peer review of the core attest and compilationservices of firms with three or more accounting professionals takes effect onJan 1, 2012.
Peer reviews help ensure that audits meet high standards ofquality as beding . New York will be joining 44 other states and jurisdictions in whichpeer review is mandatory as hats . CPAs should be aware of the new provisions effective July 26 and should checkthe NYSSCPA website () to learn more as pants . About the NYSSCPARepresenting 29,000 CPAs, the New York State Society of Certified PublicAccountants (NYSSCPA) is the oldest state accounting organization in the nation,celebrating its 110th anniversary this year .
- In: General