DRS Agency Legislative Proposal – “An Act Making Minor and Technical Changes to Tax Statutes"
These are proposals only and have not yet been heard by the Finance, Revenue and Bonding Committee.The CTCPA is working with the legislature and the DRS on these and other issues. If you have any comments, please contact CTCPA Executive Director...
Lamont’s First Meeting With Labor Focuses On Unfunded Pension Liabilities
Labor leaders from across the state made their way to the governor’s residence in Hartford for their first discussion with Democratic Gov. Ned Lamont Tuesday. Lamont, who won the race by more than 43,000 votes and the backing...
Thoughts and opinions needed on supply chain controls
Businesses today rely on complex supply chains that connect suppliers to manufacturers and manufacturers to customers. The AICPA is seeking comments on an exposure draft that provides proposed description criteria on SOC for supply chains.
Automation can't out-human you
Robotics, artificial intelligence and other advanced technologies don't mean you become obsolete. They mean you become more human. Have your members download the Human Intelligence eBook to learn how to expand their skills and prove themselves...
Major policies opposed by businesses loom in Democrat-controlled legislature
With what's been deemed a regressive tax system, wide income disparities and an eroding middle class, Connecticut is an increasingly tough place for a common person to build wealth and climb society's slippery mobility ladder, according to state...
Marcum launches robotic process automation (RPA) service
Last March, Marcum LLP, the mid-market accounting firm that has been slowly growing its Greater Hartford presence in recent years, officially launched its robotic process automation (RPA) service to help clients reduce operating costs and...
Succeeding in the Era of "Always-On" Transformation
The Head, Heart, and Hands of Transformation
Travelers kicks in $5M for crumbling foundation epidemic
Property and casualty insurer The Travelers Cos. has committed $5 million to support their policyholders suffering from crumbling concrete foundations, state officials said.
Why We Need to Audit Algorithms
Algorithmic decision-making and artificial intelligence (AI) hold enormous potential and are likely to be economic blockbusters, but we worry that the hype has led many people to overlook the serious problems of introducing algorithms into...
Working group considers changes to CPA licensing requirements
A working group is exploring possible changes to the CPA licensure requirements that would incorporate the skills and competencies in areas such as technology and data analytics that increasingly are needed in practice and business.

More >

 
  Finding the Value in Fair Value

By Gretchen G. Naso, CVA

Over the past 15 years, fair value accounting has evolved to become a part of many private companies’ financial statements. This evolution has not come without controversy. Due to its heavy reliance on assumptions and professional judgment, fair value reporting is dismissed by critics as an art, not a science, and is often considered unreliable.

Read more>>>
 
  Connecticut CPA magazine feature
U.S. Department of Labor’s New Fiduciary Rule Now Applies
Expands definition of investment advice

By George J. Kasper, J.D., LL.M., Pullman & Comley; Member, CTCPA Employee Benefit Plans Interest Group

Last year the U.S. Department of Labor (DOL) released a controversial new fiduciary regulation (the “Fiduciary Rule” or “Rule”) and related exemptions that impact investment advisers to certain retirement plans, IRAs, and other similar arrangements. The Rule has garnered much attention due to its broad application not only to financial institutions and their advisers, but others who provide services to plan sponsors, participants, and retirement account owners as well. In the midst of ongoing debate, legal challenges, and a directive from President Trump, the DOL delayed the Fiduciary Rule “applicability date” until June 9, 2017.

Read more>>>
 
  Connecticut CPA magazine feature
Making Work Work for the 21st Century: Exploring the Benefits of Workflex

By Cassidy J. Solis, Workplace Flexibility Program Specialist, Society for Human Resource Management

The 21st century workplace requires policies and practices that are responsive to employee needs and enable them to have more control over how they accomplish their work and responsibilities. That’s why top employers are making effective and flexible work – or “workflex” – a fundamental part of their strategy to attract and retain the best talent.

Read more>>>
 

  Recovering Losses From Employee Theft and Embezzlement

By Stephen A. Pedneault, CPA/CFF, CFE, Forensic Accounting Services, LLC

Individuals are stealing at an alarming rate, and the subsequent losses range from hundreds of thousands to millions of dollars. Over the past 10 years, the frequency of employee fraud has reached epidemic levels, yet only a fraction of these cases ever become public. Most are quietly resolved – for many reasons, but primarily to avoid negative publicity.

Read more>>>