News

The Connecticut Society of Certified Public Accountants (CTCPA) has elected and installed its Board of Directors for the 2025-2026 activity year at its Annual Meeting held at the Sheraton Hartford South Hotel in Rocky Hill on May 14.

The boards of directors of the American Institute of CPAs (AICPA) and National Association of State Boards of Accountancy (NASBA) have approved expansion of accountancy’s model legislation to include an additional path to CPA licensure. The optional path maintains public protection while providing added flexibility and options for CPA candidates.

Though Florida’s House of Representatives passed a bill that would eliminate licensing boards like the state’s Board of Accountancy, the state Senate has rejected the move for now.

Almost half of workers receive no education or training on the proper use of the tools.

A powerful House committee has tucked language preventing states from regulating artificial intelligence into President Donald Trump's massive tax and spending bill, a move that would benefit many of the U.S.'s largest tech and AI companies.

The Financial Accounting Standards Board (FASB) today published an Accounting Standards Update (ASU) that improves the requirements for identifying the accounting acquirer in FASB Accounting Standards Codification® Topic 805, Business Combinations. The ASU is based on a recommendation of the Emerging Issues Task Force (EITF).

Approximately three-quarters of large global companies are receiving assurance services on their sustainability reporting, according to a new report.

With major retailers recently brought to their knees by hackers, accountants would do well to think about what could happen to their businesses and take precautions.

Commencement season is here. This weekend, UConn will see more than 5,000 undergraduates and more than 2,000 graduate students receive their degrees. But, amid cuts to the federal government and fears of a recession, many have questions about the economy they are heading into.

The PCAOB has posted a new set of staff presentation videos designed to help firms implement four areas of their quality control (QC) system under QC 1000, A Firm’s System of Quality Control.

President Donald Trump is pushing lawmakers to increase tax rates on some of the wealthiest Americans as a way to offset other cuts in his signature economic package.

Worried about how to maintain finance-department operations, many look ahead to generative AI for an assist.

A bill increasing resources for special education in Connecticut advanced out of the Judiciary Committee Tuesday, despite objections from Republican lawmakers over associated costs.

The IRS lost 11% of its staff through voluntary separations and terminations in the first three months of 2025, and the largest percentage of those who left were revenue agents who conduct audits, a government watchdog said in a report.

Emails from the Senate Republican minority arrive daily in the mailboxes of the reporters covering the state Capitol, a new strategy for a caucus at its lowest ebb in nearly 40 years. On matters great and small, partisan and not, Connecticut’s tiniest legislative caucus is intent on being heard.

A historic percentage of graduate accounting programs in the United States reported a rise in student applications last year, based on new research.

CFOs should keep these priority areas in mind as they undergo internal audits and look to set themselves up for long-term ESG reporting success.

The most important issue is staff recruitment, training, retention and work conditions. While each of these is a separate issue, the whole staff issue is a neglected area when it should be the top area of concern. This has been so since I started practicing, and I am perplexed that meaningful actions are not taken to remedy the situation. I did, and many firms do, and they are much more successful than the others, but too many do not deal realistically with this.

Employees are struggling to develop at work, and some fear being left behind by innovation.

The AICPA on Thursday sent a letter to the IRS with recommendations to two areas of new instructions to Form 8971, Information Regarding Beneficiaries Acquiring Property From a Decedent. The AICPA understands that Treasury and the IRS are considering updating the form instructions for the final regulations.