News

Paul N. Iannone, CPA, J.D., MST and Danny A. Pannese, CPA/ABV/CFF, CSEP, MST, associate professors, and Benoit N. Boyer, Ph.D., retired professor, all in the Jack Welch College of Business and Technology at Sacred Heart University in Fairfield, wrote “Cleaning up intercompany debt” for the November 2024 issue of The Tax Advisor.

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.

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.

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.

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.

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.

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.

Increased turnover, driven by a trend toward shorter tenures, is creating more opportunities for aspiring leaders to step into CFO roles at public companies, and women are filling those roles at an elevated level.

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.

C-suite leaders in a global survey say generative AI has influenced their business models, improved customer relationships, and cut business costs.

The Connecticut Department of Revenue Services will be hosting a virtual webinar on Wednesday, Sept 4, 2024, at 10:00 a.m. to provide a Connecticut Real Estate Conveyance Tax Return (myCTREC – Form OP-236) Tax Overview. Representatives from the Department will give a presentation about Connecticut’s myCTREC and answer frequently asked questions. Please submit any myCTREC questions with the registration form by Wednesday August 28, 2024.