Skills that help accounting professionals succeed alongside AI
There’s some understandable concern these days about the possibility that increased use of artificial intelligence (AI) will lead to job losses among accounting and audit professionals.
Connecticut CPA Magazine Feature: How Blockchain Is Becoming an Essential Tool for the Exchange of Value
Last issue we provided an introduction to the peer-to-peer autonomous ledger system known as blockchain in Geoff Hopkin’s piece, “Blockchain Brings Exponential Disruption, Growth Potential to Accounting.” In that article,...
An Important Message from the IRS
The IRS continues to review its procedures to better protect sensitive taxpayer data. As part of this effort, the IRS will request additional information from tax professionals who contact us through the Practitioner Priority Service or any...
Connecticut CPA Magazine Feature: Gone Phishing - With Tax Season Approaching, Hackers Are Getting Ready to Cast Wide Nets
By Ken Goldstein, Visiting Instructor of Business Law and Insurance, Barney School of Business, University of Hartford It’s tax season, the busiest time of the year. You’ve been diligently focused on servicing clients, giving sage...
Consumer Alert: IRS Warns Taxpayers, Tax Pros of New Email Scam Targeting Hotmail Users
Source: www.irs.gov December 13, 2017 The Internal Revenue Service today warned taxpayers and tax professionals of a new email scam targeting Hotmail users that is being used to steal personal and financial information. The phishing email...
    Connecticut CPA magazine feature
Blockchain Brings Exponential Disruption, Growth Potential to Accounting

By Geoff Hopkins, Director, Technology and Management Consulting, RSM

Distributed blockchain was conceptualized and put into practice as a public and peer-to-peer autonomous ledger. As the core component of bitcoin, it immediately solved a digital currency double spending problem without a trusted authority or central administrator.

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  Connecticut CPA magazine feature
Client Data Is a Virtual Treasure Trove:
Why CPA firms must be vigilant about cybersecurity

By Mark R. Torello, CPA, CFE, CISA; Chair, CTCPA Technology Interest Group

Because CPA firms have access to a virtual treasure trove of data, we’re vulnerable to hackers and, therefore, held to higher levels of compliance requirements at both the state and federal levels. As accounting professionals, we should embrace these laws, because standardization and guidance are good for our industry and our clients. However, the myriad cybersecurity-related laws can be challenging to navigate.

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    Risk Alert – Social Engineering for CPAs

As with many fraud schemes perpetrated against accounting professionals, social engineering has obtained a greater level of sophistication. This development has arisen in response to increased awareness and vigilance of such schemes. Recent variations of the schemes have emerged to create a stronger appearance of legitimacy.

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Cybersecurity: A top concern among accounting professionals
The latest facts, court rulings, and new regulations

Stan Sterna, JD, Vice President, Risk Management, Aon Insurance Services

Safeguarding your clients’ nonpublic information from cyber-criminals is a top priority for CPA firms. In fact, the latest data breach statistics from RSA Security show an alarming increase in the number of exposed consumer records across industries:

  • 4,149 reported breaches exposing 4.2 billion records
  • 53% of all breaches resulted from hacking by outside sources
  • 91% of all breaches were electronic, as opposed to stolen hardware

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Creating a Disaster Plan to Ensure Your Company’s Security

By Paul C. Ursich, CPA, and Robert Risk, Wiss & Company LLP

When it comes to defending your enterprise from undefined catastrophes, traditional disaster recovery tactics are no longer adequate. If cyber terrorists seize your company’s critical information, or if human error or natural disasters erase your company’s data, your resources cannot be swiftly returned by outdated recovery methods.

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