News
58% of CFOs think US election outcome will significantly impact their organization
September 23, 2024
CFOs think the federal government should address workforce issues over things like outbound investment and AI regulations, according to Deloitte.
How firms count on happiness to shape culture
September 23, 2024
To celebrate International Week of Happiness at Work, AccountingWEB spoke to firms to find out what they do to keep their employees cheerful.
Lauren Shugrue, CPA Named 2024 Women Innovator by Westfair Business Journal
September 23, 2024
The Innovative CPA Group (ICG) is proud to share that one of their founding partners, Lauren Shugrue, CPA, has been awarded the 2024 Women Innovators Award from the Westfair Business Journal. This award recognizes Lauren’s outstanding dedication to her profession, unwavering commitment to driving positive change, and relentless pursuit of excellence.
Using behavioral science in a financial-planning practice
September 23, 2024
By understanding influences on clients' decision-making, CPA financial planners can work with them better and operate a practice more effectively, Michael E. Kitces highlighted in a presentation at the AICPA & CIMA ENGAGE conference in June about how to use behavioral finance in a financial-planning practice.
Clarification proposed for CPAs’ financial statement preparation engagements
September 20, 2024
The AICPA Accounting and Review Services Committee (ARSC) voted Thursday to expose for public comment a proposed revision that would "make explicit" that a CPA preparing financial statements as a byproduct of a consulting services engagement performed in accordance with CS Section 100 is not required to apply AR-C Section 70, Preparation of Financial Statements.
Data privacy and FP&A are top concerns for finance chiefs
September 20, 2024
Data privacy and FP&A top CFOs’ priorities for the coming year, according to a new survey report from Protiviti.
Connecticut Department of Revenue Provides Updated Information for Taxpayers Impacted by Weather Events of August 18, 2024
September 19, 2024
This publication has been updated to address the guidance issued by the Internal Revenue Service (IRS) relative to the victims of severe storms and flooding in Connecticut and New York. In recognition of the recent IRS guidance, the Commissioner of Revenue Services will exercise the authority provided him under Conn. Gen. Stat.§ 12-2(a)(5) on a case-by-case basis and the Department of Revenue Services (DRS) will consider requests for relief from penalty and interest that would otherwise accrue on late filings and payments after September 30, 2024.
IRS provides an update to frequently asked questions for the Premium Tax Credit
September 19, 2024
The Internal Revenue Service today updated its frequently asked questions in Fact Sheet 2024-30 PDF for the Premium Tax Credit.
Reminder: MyCTSavings Registration Requirement for Businesses with 5 or More Employees
September 19, 2024
Businesses with 5 or more employees who do not offer a retirement plan and have been in business since January 1, 2023 are required to either register and enroll employees in MyCTSavings, or provide another qualified retirement plan. Once enrolled, employees have the option to opt-out, stay with the standard Roth IRA, or customize a Roth IRA by setting the deduction percentage and choosing from several fund options.
Video Replay for CTCPA Town Hall Meeting: An ESG/Sustainability Update - September 18, 2024
September 19, 2024
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.
Drew Andrews, Frank Milone, Michael Sabol Quoted in Hartford Business Journal Article 'As merger wave hits accounting industry, here’s how some small to midsize firms are maintaining independence'
September 18, 2024
The accounting industry is experiencing a consolidation wave, driven by the ongoing challenges of succession planning for aging partners and the new influence of private equity investment.
Regulating AI: The digital can of worms is open
September 18, 2024
The new EU Artificial Intelligence Act raises many questions and should put AI on every business’s agenda sooner rather than later.
Setting workable AI policies for your team
September 17, 2024
With IT security and data protection being such important factors, accountants and bookkeepers need to ensure they have considered how they set rules and guidelines for themselves and their teams.
More organizations are turning to AI in the finance function
September 16, 2024
Adoption of finance AI — artificial intelligence that aids in the finance function — is on the rise.
Use of Standard Terms and Conditions Can Help Build Engagement Letter Consistency
September 16, 2024
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.
New Population Tool Provides Town-Level Info
September 13, 2024
CTData Collective and the state Department of Health have teamed up to launch a new online tool that will provide “groundbreaking” population data, migration patterns, and housing information down to the town level.
65% of CFOs are under pressure to accelerate ROI from tech investments
September 12, 2024
Leadership’s patience around getting returns on technology investments is thinning, according to new data from IBM.
Drew Andrews of Whittlesey, Michael Tedone of Connecticut Wealth Management Named to HBJ's 'Lifetime Achievement & C-Suite Honorees' List
September 12, 2024
Two CTCPA members were named to the Hartford Business Journal's "2024 Lifetime Achievement & C-Suite Honorees": Drew Andrews of Whittlesey and Michael Tedone of Connecticut Wealth Management. Drew was one of two awardees recognized in the "CEO, Medium Company, 76-199 Employees" category, while Michael was one of two awardees in the "Chief Financial Officer, Small Company, Less Than 75 Employees" category.
IRS issues proposed regulations for Corporate Alternative Minimum Tax
September 12, 2024
The Internal Revenue Service today issued proposed regulations to provide guidance on the Corporate Alternative Minimum Tax (CAMT).
Increasing appetite for M&A, AI driving growth, survey finds
September 11, 2024
Mergers and acquisitions (M&A) and growth opportunities are on the rise, according to a survey of leaders at private companies and private-companies-turned-public.