XBRL Costs for Small Companies Have Declined 45%, According to AICPA Study
The American Institute of CPAs (AICPA) and XBRL US have found that the cost of XBRL formatting for small reporting companies has declined 45 percent since 2014, according to an updated pricing survey. EXtensible Business Reporting Language (XBRL)...
Blockchain, machine learning, and a future accounting
The inventor of bitcoin and blockchain technology goes by the name Satoshi Nakamoto. Though Nakamoto claims to be a Japanese man born in 1975, most experts believe Nakamoto is a pseudonym. Some have gone so far as to theorize that Nakamoto isn't...
Remember Overstock? It's basically a crypto company now
Overstock is going all in on blockchain and cryptocurrencies.
The World Bank is getting in on blockchain
The World Bank is turning to blockchain to help it raise money. The international lender is planning to issue what it says is the world's first global blockchain bond, a notable mainstream endorsement of the emerging technology.
Tax Security 101 – Tax professionals victimized by data thefts offer hard-won security lessons to colleagues
As cybercriminals continue to increasingly pursue tax professionals’ data, the Internal Revenue Service and the Security Summit partners today released lessons learned by victims in the tax community to help others avoid being targeted by...
Is Real-Time Sales Tax Collection Possible?
With the Wayfair ruling expanding sales tax collection obligations, your clients with customers in multiple states are exploring the viability of automated sales tax and other indirect tax calculation solutions. Finding a way to streamline...
Move Over Millennials, It’s Gen Z’s Turn to Kill Industries
Millennials have been accused of killing so many products and industries—taxis, landlines, snail mail—that it’s become a media trope. But millennials are old news. Today, businesses and marketers are desperately anticipating the murderous whims...
What the IRS Is Doing About Data Security
As data breaches and fraudulent tax returns have become tougher to detect by states and the IRS, the agency is ratcheting up its focus on protecting client data and, moreover, tax preparers who are lax will be in violation of federal law.
Beyond robotics: How AI can help improve the audit process
The CPA profession has been hearing a lot about Robotic Process Automation (RPA), a software technology that can help auditors sift through structured data.
CPAs’ top 5 questions about blockchain, cryptocurrencies
Tax ramifications, smart contracts, and job security are among the issues top of mind for accountants.

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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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