News
61% of Managers Say Exec Leaders Hold Them Back From Innovation: Weekly Stat
May 24, 2023
Many finance leaders have a hands-on approach to leadership, but most managers believe it impedes their ability to innovate.
Younger workers turn to side hustles to stay afloat
May 23, 2023
Half of Gen Z and Millennial workforces say they live paycheque to paycheque, and many had to take on a second job due to financial concerns.
Coalition Including CPAs Calls Attention to New Beneficial Ownership Information Reporting Requirements
May 22, 2023
The American Institute of CPAs (AICPA) joined a coalition of organizations who have come together to make taxpayers and practitioners aware of the new Beneficial Ownership Information (BOI) reporting requirement. BOI is an anti-money laundering initiative enacted through the Corporate Transparency Act (CTA) in 2021, which mandates that BOI information is reported to the Financial Crimes Enforcement Network (FinCEN).
How Connecticut changed during COVID, in 10 charts
May 21, 2023
On May 10, exactly three years and two months after Gov. Ned Lamont declared a public health emergency in response to the COVID-19 pandemic, he declared it over.
Why private companies need a plan for ESG reporting, assurance
May 17, 2023
A midnight rummage through your refrigerator won't result in the discovery of something manufactured by Southwire alongside your favorite brand of cheese, but that cheese might not smell so appetizing without Southwire.
70% of Gen Z Employees Would Switch Jobs for Better Tech: Weekly Stat
May 10, 2023
CFOs who want to retain Gen Z employees — a group that will make up more than a quarter of the workforce by 2025 — should embrace technology.
A business imperative for promoting employees’ mental health
May 10, 2023
A corporate leader felt strongly about addressing mental health in the workplace, so she wrote a book about it. Creating “a sense of belonging” is one first step for organisations.
Create a magnetic culture at your firm
May 10, 2023
Our profession has in front of us the greatest opportunity for increased relevance and abundance that I have seen in 40 years. Demand for our services, skill sets, and leadership have never been higher. We can simply look at the growth percentages from the latest 2022 large firm reports and see that firms are growing at much faster rates due to this increased demand.
Several Member Firms Named to Accounting Today's 'Best Accounting Firms for Technology'
May 09, 2023
Each year, Accounting Today selects accounting firms who are embracing and utilizing technology to move forward. A number of those firms have a Connecticut presence.
The Best Firms for Technology for 2023
May 09, 2023
Already running high amid the profession's digital transformation, interest in artificial intelligence has exploded this year, with large numbers of firms weighing its applications. Accountants who are experimenting with these AI systems are already seeing results. Some report using it for generating marketing copy or internal staff memos. Others are exploring it as a research reference. One is even planning to use it to develop training videos to speed up employee development and onboarding.
Meta says ChatGPT-related malware is on the rise
May 05, 2023
Potential abuses of generative AI technology ChatGPT are causing concern as the phenomenon is likened to cryptocurrency scams.
Should CFOs Keep Their Office Space?
May 05, 2023
Cost vs. culture. CFOs must consider how in-person work still benefits their organizations — but at a price.
Could AI actually expand the global job market?
May 03, 2023
A World Economic Forum report predicts an overall decline in jobs; it also shows that artificial intelligence will create more jobs than it eliminates by 2027.
Less is more when it comes to the workweek, UK research finds
May 03, 2023
A large four-day workweek trial finds that companies and employees benefited from reduced hours and some companies plan to continue with a shorter workweek.
65% of Execs Say Generative AI Will Have High Impact in 3-5 Years: Weekly Stat
April 26, 2023
Generative AI creates great opportunities for organizations, however, its open nature and ease of use amplifies the risk, a KPMG partner said.
Accounting and the remote world
April 26, 2023
Three years into the remote work revolution sparked by the COVID-19 pandemic, the accounting profession finds itself in the midst of a great natural experiment, as some firms seek to slow or reverse this change, while others seek to accelerate it.
Grow your firm with intention
April 26, 2023
The accounting profession moves fast, and it can feel important for firms to continuously evolve. However, the fast-moving nature of the industry makes it even more critical for firms to step back and consider their priorities. That's the message of an upcoming session at AICPA ENGAGE 2023 led by Keila Hill-Trawick, CPA, and Carrie Steffen — two business leaders who believe there's room for change at many firms.
Time to rebalance the TCJA for small biz
April 25, 2023
With some temporary provisions in the Tax Cuts and Jobs Act approaching their sunset, members of Congress are considering extending or making them permanent — but Anne Zimmerman believes that the act was disproportionately beneficial to large corporations at the expense of small businesses.
NASBA Extends CPA Exam Testing Window to 30 Months
April 24, 2023
In response to feedback submitted through the exposure draft, NASBA has announced that it will adopt an increased testing window of 30 months.
From the CPA Shortage to Pending Legislation: Four Employment Practices Risks Accounting Firms Face
April 20, 2023
Over the last few years, the talent conversation has loomed large for accounting firms in Connecticut and across the country – from struggles with the accountant shortage to new and pending regulations impacting employee compensation. These issues just don’t create challenges for CPA firm leaders to navigate, they can also lead to employment practices liability (EPL) risks that require careful attention and, often, new mitigation strategies.