News

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.

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

By Jim Norton, CPA, Principal – GRF CPAs & Advisors and CTCPA Advisory Council Chair

By CTCPA Chair Michael Maksymiw Jr., CPA, Aprio Firm Foundation

A U.S. accounting firm is not prohibited by a White House executive order regarding U.S. sanctions against Russia from providing tax advisory and preparation services to the U.S. subsidiary of a Russian company in certain scenarios, according to guidance issued Thursday by Treasury's Office of Foreign Assets Control (OFAC).

IRS Commissioner Charles Rettig updated members of the Senate Finance Committee Thursday on the Service's performance in the soon-to-be-concluded tax filing season, as well as longer-term assessments of its efforts to modernize its operations, fill staffing gaps, and improve taxpayer service and enforcement.

By Jim Norton, CPA, GRF CPAs & Advisors Budgeting. Planning. Budgeting and planning. Financial planning and analysis. FP&A. Projections. Models. Forecasts. Pro formas. These are just a handful of terms that are often used interchangeably when talking about the process of analyzing an organization’s financial position. The buzz phrase that seems to resonate most with people lately is financial planning and analysis, or FP&A.