News

A report issued Thursday by the AICPA and the National Association of State Auditors, Comptrollers and Treasurers (NASACT) details the depth of challenges that need to be overcome to ensure strong accounting, auditing, and finance functions in state and local government and to make it easier for governments to find outside auditors.

Are you creating or updating your HR policies for 2025? A year-end HR compliance checklist is a great way to help make sure your bases are covered. There's too much at stake to leave compliance to chance. Particularly during the end of the year, there are many moving parts and critical deadlines your business must meet; otherwise, you could face penalties. To help you meet deadlines and compliance requirements, we've compiled a checklist that identifies some of the essential end-of-year tasks.

Connecticut companies will soon have an added incentive to offer student loan repayment benefits to employees.

More than half of finance leaders believe technology will improve audit quality, but the human element is irreplaceable.

Fewer US students are taking up accountancy, and 75% of CPAs are near retirement.

The American Institute of CPAs (AICPA) and the National Association of State Boards of Accountancy (NASBA) have issued two important exposure drafts related to the CPA pipeline and licensure: Exposure Draft: Competency-Based Experience Pathway Comments due by December 6 Exposure Draft: Proposed Amendments to the UAA Model Act and Rules Comments due by December 30

Our sixth annual Priorities for Business Leaders survey, conducted in partnership with Bredin from July 3 to 19, 2024, highlights the strategic priorities reported by companies with 5-499 employees. The survey reveals that 85% of business leaders expect higher revenue over the next 12 months (up from 76% last year), and 50% plan to increase full-time employee headcount to support their growth objectives.

Businesses with 5 or more employees who do not offer a retirement plan and have been in business since January 1, 2023 are required to either register and enroll employees in MyCTSavings, or provide another qualified retirement plan. Once enrolled, employees have the option to opt-out, stay with the standard Roth IRA, or customize a Roth IRA by setting the deduction percentage and choosing from several fund options.

Imagine that a claim has been brought against your firm and you are sitting on the witness stand defending the firm's services. Your confidence is bolstered by detailed engagement letters used for each service that was delivered to the client by the firm. Yet doubt creeps into your mind as you remember your client's comments.

The Internal Revenue Service today issued a reminder that employers who offer educational assistance programs can also use them to help pay for their employees’ student loan obligations through Dec. 31, 2025.

Organisations should consider addressing management practices and age-inclusion policies to retain talent across generations.

Brian May, CFO of food service company Nicholas and Company, offers a unique CFO perspective on the lessons he learned during a major digital overhaul.

On May 28, 2024, Governor Ned Lamont signed legislation expanding Connecticut’s 2011 Sick Leave Law. The new legislation is effective on January 1st, 2025. The law covers more employees, expands the reasons under which employees may use paid sick leave, and reduces the required hours to accrue paid sick leave.

As artificial intelligence quietly transforms the accounting industry, we look at how it has evolved and the changes it has brought to everyday tasks, with this feature forming part of our special editorial report on the subject, in association with Sage.

NPAG’s Accounting Talent Strategy Report explores the latest pipeline data, root causes of the profession’s attrition, potential solutions, and next steps.

Accounting firm Marcum, which has multiple offices in Connecticut, is being acquired by a publicly traded financial services advisory firm in a deal worth $2.3 billion, the company announced.

Of all problems the tax and accounting profession faces, staffing seems the most persistent. Older and younger accountants alike are bailing, driven by a sometimes hard combination of perception and reality.

Entities seeking access to beneficial ownership information (BOI) will spend over 8.7 million hours filling out paperwork in the first year and over 3.6 million in the second year, the Financial Crimes Enforcement Network (FinCEN) said in an estimate Monday.

As the adage goes, the grass isn't always greener. This rings true for American workers who have started shunning the idea of the Great Resignation, AKA leaving their jobs in droves, in favor of remaining in their current roles.

Is it possible to get as much work done in four days as five? The answer may not be what you expect and the benefits for staff are undeniable.