News
Major Changes to Connecticut Paid Sick Leave Begin January 1, 2025
October 10, 2024
The new Connecticut Paid Sick Leave Act is shaking things up significantly. If you’re an employer in Connecticut, here’s what you need to know – including a few potential pitfalls to avoid.
AI promises more efficiency but won’t replace auditors
October 09, 2024
More than half of finance leaders believe technology will improve audit quality, but the human element is irreplaceable.
KPMG US chief calls for urgent reform to halt slide in accounting ranks
October 09, 2024
Fewer US students are taking up accountancy, and 75% of CPAs are near retirement.
TIGTA says IRS should review $42 billion in ERC claims
October 09, 2024
In its attempt to speed processing of employee retention credit (ERC) claims, the IRS changed its policy for pre-refund examinations and should consider reviewing nearly 185,000 claims totaling almost $42 billion, the Treasury Inspector General for Tax Administration (TIGTA) said in a recent report (TIGTA Rep't No. 2024-400-068 (Sept. 30, 2024)).
How CFOs can monetize AI for financial growth
October 08, 2024
By leveraging artificial intelligence’s ability to deliver actionable insights on market trends, CFOs can unlock new growth avenues for their companies.
How will AI shape the practice of tomorrow?
October 07, 2024
AI tools will help to transform practices over the next few years, but what exactly will the impact be and how can you get started?
Proposals Released on Additional Pathway to CPA Licensure, Changes to Uniform Accountancy Act (UAA) Model Rules
October 07, 2024
The American Institute of CPAs (AICPA) and the National Association of State Boards of Accountancy (NASBA) have issued two important exposure drafts related to the CPA pipeline and licensure: Exposure Draft: Competency-Based Experience Pathway Comments due by December 6 Exposure Draft: Proposed Amendments to the UAA Model Act and Rules Comments due by December 30
Video Recording: Learn about the CPA Exam and Discipline Exam Sections
October 07, 2024
Thousands of candidates attended the latest AICPA/NASBA webinar on Navigating the CPA Exam. In case you missed it, you can view the webinar in its entirety.
‘Majority moves’ in tech: Finance leaders reveal popular practices
October 07, 2024
A large majority of finance leaders have been tasked with new responsibilities in 2024. Not surprisingly, many of those responsibilities revolve around technology.
IRS Direct File set to expand availability in a dozen new states, cover wider range of tax situations for 2025 filing season
October 03, 2024
The Internal Revenue Service announced today that Direct File will be available in double the number of states than last year's pilot.
IRS provides Helene relief; AICPA seeks BOI, FBAR filing extensions
October 03, 2024
The IRS announced relief for taxpayers in all or part of seven states that Hurricane Helene damaged (IR-2024-253). The AICPA, which requested IRS relief in a comment letter, on Thursday also requested filing extensions from the Financial Crimes Enforcement Network (FinCEN) related to the filing of beneficial ownership information (BOI) and reports of foreign bank and financial accounts (FBAR) for major disaster victims.
Treasury and IRS issue guidance on long-term, part-time employees in 403(b) retirement plans and announce delayed applicability date for related final 401(k) regulation
October 03, 2024
The Department of the Treasury and the Internal Revenue Service today issued guidance addressing long-term, part-time employees in 403(b) retirement plans under the SECURE 2.0 Act, which applies to 403(b) plans beginning in 2025. These plans are similar to 401(k) plans but are generally for employees of charities and public schools.
Decline in audit firm numbers continues
October 02, 2024
The number of firms registered to carry out statutory audit work in the UK and Ireland has dropped again and is close to dipping below the 4,000 mark.
Just 46% of employees rate their mental health at work as “very good” or better
October 02, 2024
Managers and workers have differing views of mental health in the workplace.
Policy groups urge CT to intensify saving to end pension debt
October 02, 2024
Conservative think-tanks say CT’s children could be spared billions in legacy debt.
CFO succession planning: Tips for exiting your company the right way
October 01, 2024
Three C-suite executives offer advice on how to seamlessly transition chief financial officer duties to a successor.
Key skills for CPAs in business and industry
October 01, 2024
Leaders from corporate finance and the profession share their advice for upskilling and reskilling for the next era of management accounting.
New Data Privacy Protections Lead List Of New Laws Taking Effect Today
October 01, 2024
A raft of changes to how Connecticut law protects sensitive medical information, minors from online threats, and misuse of social media lead a group of dozens of new laws that take effect today.
PCAOB inspectors offer advice in areas of risk
October 01, 2024
PCAOB inspectors repeatedly noted the value of using experts in a report focused on emerging areas of risks in public company audits.
Tax planning for the SALT cap
October 01, 2024
Taxpayers can employ several strategies in the face of limited deductibility of state and local taxes through 2025 and perhaps beyond.