Shifting habits, technology, stagnant economy diminish CT's financial-services jobs
Connecticut's financial-services sector, covering banks, investment firms and insurers, continues to shed jobs as providers try to keep pace with consumers who prefer to remotely bank or file claims using smartphones and other digital...
How Accountants Can Get Ahead in the Automation Age
ccountants, it’s time to keep up or fall way behind. Better yet, learn how to get and stay ahead. Because, while change has been a constant for decades – thank you, Bob Dylan – it’s reaching warp speed. That’s the overarching message of a new...
IRS Message to the Tax Professional Community
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...
Tech, people skills are key as accountants face changing demands
Accounting and finance professionals are finding that they must continually learn, unlearn, and relearn to maintain their highly trusted position in a rapidly changing business environment. Accountants need to understand emerging technologies...
Connecticut Works To Fend Off Cybersecurity Attacks On Election
Two days after President Donald Trump eliminated the position of cybersecurity coordinator on the National Security Council, Secretary of the State Denise Merrill convened the second meeting of the Elections Cybersecurity Task Force....
State of Connecticut Launches Cybersecurity Action Plan
The state launched a new cybersecurity defense plan Thursday that calls for extensive security in state government agencies, the General Assembly, and the judicial branch, while also establishing municipal cyber defenses, the governor announced.
How to prepare for GDPR with days to go
One of the most significant changes to data privacy rules in a generation will take effect 25 May, and very few businesses are truly ready for it. Only about 15% of EU-based companies surveyed by Deloitte last year think they’ll be fully...
New IRS online tool offers expanded access to information on tax-exempt organizations
The Internal Revenue Service today introduced a new online tool on IRS.gov designed to provide faster, easier access to publicly available information about exempt organizations. "This new tool provides taxpayers an easy way to get information...
Future of Finance: Humans and Machines Unite
73% of surveyed finance leaders said they believe automation is improving their function’s efficiency and giving employees more bandwidth for value-added tasks.
Why CPAs and firms should see artificial intelligence and machine learning as an opportunity, not a threat
The robots are not just coming, they are already here.

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    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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