News

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.

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.

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.

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.

Potential abuses of generative AI technology ChatGPT are causing concern as the phenomenon is likened to cryptocurrency scams.

Cost vs. culture. CFOs must consider how in-person work still benefits their organizations — but at a price.

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.

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.

Generative AI creates great opportunities for organizations, however, its open nature and ease of use amplifies the risk, a KPMG partner said.

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.

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.

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.

In response to feedback submitted through the exposure draft, NASBA has announced that it will adopt an increased testing window of 30 months.

There is a widening gap between the skills employers need and those workers have, recent AICPA & CIMA research found.

With the smallest, most tech-focused generation ever entering the workforce, experts say changes must be made to draw Gen-Z candidates.

Outsourcing is a hot topic right now for the profession as CPA firms struggle with staffing constraints. Current challenges associated with firms attracting and retaining talent are expansive and include issues such as staffing qualified professionals for complex engagements, employee burnout, unrealistic and “heavy” workloads, as well as limitations on the ability to maintain and foster high-touch client relationships.

Job interviews have long been an essential part of the hiring process. But now, some public accounting firms are turning the lens on themselves. They're conducting "stay" or "retention" interviews with existing employees. The goal is to understand how they can be a more attractive workplace and reduce employee turnover — a top issue for many public accounting firms.

Diversity. Equity. Inclusion. These three words—and the efforts required to realize them—have become increasingly important as demographic and social shifts transform our country. In turn, the actions organizations take across these fronts are coming under more scrutiny than ever before as employees, consumers, and investors increasingly aim to align their individual values with those of the organizations they choose to work for, do business with, and support.

When CTCPA member Destiny Hartmann says that the organization has changed her career trajectory, she’s not exaggerating. As a junior at Eastern Connecticut State University, Destiny volunteered to contact local CPA firms to try to get firms to come to the Eastern career fairs and talk with students.

By Timothy P. Hedley, PhD, CPA, CFF, CFE, Executive in Residence – Fordham University, CTCPA Chair-elect, and ESG Committee Chair