News

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.

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.

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 top CFOs’ priorities for the coming year, according to a new survey report from Protiviti.

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.

The Internal Revenue Service today updated its frequently asked questions in Fact Sheet 2024-30 PDF for the Premium Tax Credit.

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.

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.

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.

The new EU Artificial Intelligence Act raises many questions and should put AI on every business’s agenda sooner rather than later.

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.

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.

The SEC approved a PCAOB standard that establishes a risk-based quality control system for public accounting firms.

Will we ever see accounting being taught in schools? Early-stage CFO Bradley Channer – a driving force behind the movement – is optimistic it’ll happen.

At the firm's annual state-of-the-firm and company picnic on August 29, Burzenski & Co. recognized the 40th employee anniversary of Partner Melody Mann Fox, CPA.

The Innovative CPA Group (ICG) is honored to share the ongoing community involvement of our partner, Scott Mitchell, CPA and Sal Chieffalo, CPA. As dedicated members of the Immaculate High School Alumni Association, Scott and Sal are currently serving as golf co-chairs for the organization’s 35th annual golf tournament. This year marks their fourth year leading this esteemed event, which serves as a major fundraiser for the school, providing crucial tuition assistance for future students at Immaculate High School.

CTCPA members Jenna Allegretto and Zachary Hunter were recently named partners at Marcum LLP. Jenna is a Partner in the Assurance Services Group of Marcum’s New Haven office, while Zach is Zachary Hunter is a Tax and Business Services Partner in the firm’s Hartford office.

Whittlesey, a leading accounting, advisory, and technology firm, is pleased to announce that we have been named a 2024 Best of the Best Firm by INSIDE Public Accounting (IPA) for the third consecutive year, a respected publication within the public accounting industry. This year, Whittlesey proudly remains the only New England firm to earn this prestigious recognition.

Several CTCPA members were named to the 2024 Hartford Business Journal's "40 Under Forty" list.

Pete Gioia, the former longtime economist of the Connecticut Business & Industry Association, has died, according to CBIA President and CEO Chris DiPentima.