News

Employees at accounting firms and other types of businesses are continuing to work remotely, or at least coming into the office less, as the COVID-19 pandemic continues.

The IRS said Thursday that it destroyed approximately 30 million unprocessed information returns because its "antiquated technology" forced it to dispose of the paper documents and vowed to process all such information returns that it received in 2021 and 2022.

The Internal Revenue Service is coming under criticism from Congress and the American Institute of CPAs for destroying an estimated 30 million paper-filed information returns to cope with its backlog last year, with one lawmaker even calling for the IRS commissioner to be replaced immediately.

The Connecticut Society of Certified Public Accountants (CTCPA) has elected and installed its Board of Directors for the 2022-2023 activity year.

As a company scales, the spreadsheet software can impede finance’s pursuit of efficiency.

The AICPA Auditing Standards Board has approved new quality management standards designed to improve a firm's risk assessment and audit quality.

Stephen Pedneault, Founder/Owner of Forensic Accounting Services, LLC in Manchester, was honored as the MSA Professor of the Year by the UConn School of Business Accounting Department. Steve has won the award, which is voted on by the students, three times.

Over the last two years, a series of shocks — including factory closures, skyrocketing shipping costs, shortages of material and labor, and the war in Ukraine — has created extreme variability for businesses in practically every industry.

Burnout is a growing issue for many workers, including those who have flexible schedules, new research from talent solutions and business consulting firm Robert Half shows. In a survey of more than 2,400 professionals in the U.S., 41% of respondents said they are more burned out now than a year ago. Results are nearly unchanged from a similar 2021 poll, suggesting more must be done to support employees' mental health and well-being.

Finance chiefs are in a better position than ever to make the jump to CEO.

The YMCA of Greater Hartford announced Edward F. Bader as the recipient of this year’s Robert C. Knox Jr., YMCA Distinguished Leadership Award on April 21 at the association’s annual meeting. The award is the highest tribute the YMCA pays to its volunteer leaders who exemplify the ideas of the YMCA and their dedication to preserving the responsibilities and opportunities the Y has to offer.

The Federal Accounting Standards Advisory Board (FASAB) is seeking input on proposed amendments intended to clarify the application of lessee and lessor discounting requirements.

Women are still far behind where they should be in terms of business and accounting leadership, sitting in less than a quarter of C-suite executive offices. Women of color are in only 4% of those positions.

Cyber incidents continued their upward trajectory in 2021 – once again breaking records and setting the stage for an even more active 2022, with geopolitical events contributing to an already heightened threat level. And in this environment, CPA firms – which accelerated their digital transformation during the pandemic – are particularly vulnerable to an attack.

The Governmental Accounting Standards Board (GASB) today issued guidance addressing various accounting and financial reporting issues identified during the implementation and application of certain GASB pronouncements or during the due process on other pronouncements.

Clients might lose faith in long-term investing when stock prices fall, but stocks remain a worthy investment when the right strategy is implemented. Here, Bryce Sanders explains why dollar cost averaging might be a good way to help clients face financial fears when it comes to the stock market.

The Internal Revenue Service decided to destroy an estimated 30 million paper-filed information return documents in March 2021 because of its inability to process its backlog of paper tax returns, according to a new report.

Alongside Democratic legislative leaders, Gov. Ned Lamont signed the $24 billion budget adjustment Monday that includes $600 million in tax relief.

In his acceptance speech, Gov. Ned Lamont plugs his economic record, responds to GOP nominee Bob Stefanowski

Connecticut Republicans united Friday night behind the rebooted gubernatorial ambitions of Bob Stefanowski, the businessman who outflanked the GOP establishment in 2018 only to lose by three points to Gov. Ned Lamont.