News

The rising interest in finance automation presents a compelling growth opportunity for controllers to establish themselves as de facto finance chief information officers.

In June 2022, the AICPA's Auditing Standards Board (ASB) and Accounting and Review Services Committee (ARSC) issued four interrelated final standards on quality management intended to clarify and improve existing quality processes for audit and attest engagements.

any bosses seem convinced that remote work is hampering productivity. But companies with remote or hybrid policies appear to be hiring people at about twice the rate of employers that are fully in office, according to a new analysis.

With the year already past the halfway point, a review of some of the more notable developments affecting taxpayers and their CPAs is in order. The following is a brief summary of some of the major developments to give a flavor of the types of issues addressed; a full list of the 40 most important developments — selected by David De Jong, CPA, LLM, a partner at Stein Sperling Bennett De Jong Driscoll in Rockville, Maryland — follows below.

As a CPA nearing the end of his time helping with the transition following the sale of his firm, Ted Sarenski finds himself at a crossroads. "I can't play golf five, six days a week. I've got to have something else to do," he said. "But what's that something else going to be? I'm still struggling with that, and I'm sure your clients will be struggling with that as well."

The IRS is progressing on its plan to become more accessible to taxpayers and tax professionals, with improved or new online accounts, mobile-friendly forms, and a new platform for Forms 1099-K, Payment Card and Third Party Network Transactions, just in time for the first tax season with stricter requirements for filing those, Commissioner Danny Werfel said in a call with reporters.

All the talk about artificial intelligence these days seems to be around the jobs it could replace. But new generative AI tools might help you find one, too.

Philip Fisher takes a look at the FRC's annual review of audits and finds little to offer comfort. Is auditing really that difficult?

But progress is being made in laying the strategic groundwork for embedding sustainability into organizations’ DNA.

Thanks to Inflation Reduction Act resources, the IRS delivered dramatically improved service in filing season 2023. IRS achieved an 87% level of service. Through the end of filing season, IRS answered 3 million more calls, cut phone wait times to three minutes from 28 minutes, served 140,000 more taxpayers in-person, digitized 80 times more returns than in 2022 through the adoption of new scanning technology, cleared the backlog of unprocessed 2022 individual tax returns with no errors, launched two new digital tools, and enabled a new direct-deposit refund option for taxpayers with amended returns.

Connecticut’s next study on tax fairness will go even deeper than its first two assessments, which concluded the poor and middle class proportionally pay much more than Connecticut’s wealthy.

The Internal Revenue Service and the Treasury Department plan to issue final regulations related to required minimum distributions from retirement accounts in light of the SECURE 2.0 Act.

New report shows many states, unlike CT, ordered regressive tax cuts that will push their budgets into deficit

Brian Kelleher and Amber Tucker of Fiondella, Milone & LaSaracina wrote the Hartford Business Journal's "Expert's Corner" article "Nonprofits: Don't fear the merger."

Connecticut climbed eight spots in CNBC’s annual ranking of “Top States for Business,” reaching 31st on this year’s list.

Connecticut residents favored cannabis flower over vapor or edible products as they spent nearly $24 million on cannabis products during the month of June, the Department of Consumer Protection announced in a press release on Monday.

The Financial Accounting Foundation (FAF) today posted its 2022 Annual Report to its website. The report is available as a printable PDF file and as an enhanced digital version.

Neil Cutting catches up with Joanne Caruso, executive vice president at the $16bn professional services company Jacobs, to talk about the work they did together in shaping the organisation’s “future of work” initiative.

"A new frontier for accountancy." Those were the words of Jeremy Osborn, FCMA, CGMA, Global Head of ESG at AICPA & CIMA, a couple of days after the International Sustainability Standards Board issued the first two standards aimed at creating a global baseline for sustainability reporting.

CironeFriedberg, LLP announced the promotion of David C. Moseman, CPA to Partner in Charge of Tax services and Nicholas DaPaz, CPA to Partner in Charge of Audit services for the firm.