News

At the recent NASBA annual meeting, the AICPA and NASBA delivered an update on the progress of the CPA exam, highlighting significant advancements and future initiatives that promise to enhance the candidate experience.

At the recent AICPA Fall Council meeting, Mark Koziel was officially introduced as the incoming CEO, and was recognized for his impactful leadership and commitment to the profession. Mark's journey from his early days in public accounting to his current role as CEO of Allinial Global was highlighted.

At the recent NASBA annual meeting and AICPA Fall Council meeting, Barry Melancon, President and CEO of the Association of International Certified Professional Accountants, provided an overview of the future of the accounting profession. His insights highlighted the changes driven by technological advancements and the vital role of Certified Public Accountants (CPAs) in navigating this evolving landscape.

At the NASBA annual meeting, there was a session on "AI Revolution: Unlocking the Future of Tomorrow," which showcased the remarkable pace at which artificial intelligence is being integrated into various sectors. With 80% of Fortune 500 companies weaving AI into their workflows just nine months after the launch of ChatGPT, it's evident that we stand on the brink of a transformative era.

A recent survey by Randstad suggests that the future CFO talent pool may be shrinking for reasons beyond the growing shortage of qualified talent.

Companies with more mature cybersecurity approaches expect to increase cybersecurity spending and better integrate their cyber strategy into overall transformation plans.

Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) announced that certain victims of Hurricane Milton, Hurricane Helene, Hurricane Debby, Hurricane Beryl, and Hurricane Francine will receive an additional six months to submit beneficial ownership information reports, including updates and corrections to prior reports. FinCEN has issued five Notices extending the filing deadlines to for reporting companies that 1) have an original reporting deadline beginning one day before the date the specified disaster began and ending 90 days after that date, and 2) are located in an area that is designated both by the Federal Emergency Management Agency as qualifying for individual or public assistance and by the Internal Revenue Service as eligible for tax filing relief. Please refer to the applicable Notice for specific information.

Artificial Intelligence (AI) has transformed how we live and work, offering immense potential for innovation and progress. However, as with any technology, AI also has its drawbacks. Emerging technologies like deepfakes – AI-generated synthetic media that can convincingly manipulate or fabricate audio, video, and images – have rapidly gained popularity among cybercriminals as a potent tool for cyberattacks. By leveraging deepfakes, they can easily manipulate information, deceive individuals, and exploit vulnerabilities within organizations. The consequences of these attacks can be severe, ranging from financial losses to reputational damage. 

Pay transparency laws are being enacted across the U.S. If you have clients operating across state lines, you know how complicated staying compliant with these laws can be. Business owners need to understand what’s coming and how they can prepare.

From a focus on data integrity and employee upskilling to championing new tools, finance leaders have a multi-dimensional role in AI adoption and use.

Mark Koziel, CPA, CGMA, has been named as the incoming CEO of AICPA & CIMA, which operate together as the Association of International Certified Professional Accountants.

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.

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

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.

Three C-suite executives offer advice on how to seamlessly transition chief financial officer duties to a successor.

Sustainability is rapidly becoming a business requirement – yet so many companies are still dragging their feet. Immediate Past CTCPA Chair Timothy Hedley, PhD, CPA, CFF, CFE, a Fordham University adjunct professor responsible for the college’s ESG literacy programs and initiatives, joins us to share why companies need to care about ESG.

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.