News

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.

The maximum contribution amounts for a health savings account (HSA) and certain related benchmarks will be slightly higher next year.

Republicans in the Connecticut House of Representatives presented an alternate two-year state budget Thursday that caucus members called a “Reality Check” and said would reduce the size of state government by about $600 million.

Will GOP offer real solutions to big problems? Will Democrats listen if they do?

It’s not common to have legislation proposed that no one speaks against. That’s the case, however, for House Bill 7020, which would offer more flexibility for state residents to become certified public accountants.

But it’s unclear whether officials will tap $2.3 billion windfall to mitigate cuts in federal aid.

Gian-Carl Casa, president and CEO of the CT Community Nonprofit Alliance, and Rep. Jillian Gilchrest, D-West Hartford, were joined at the Legislative Office Building by representatives from some of Connecticut’s largest nonprofit organizations. They said the state must protect essential services that support residents struggling with mental illness, addiction, disability, homelessness, and reentry from incarceration.

The House Financial Services Committee passed a budget bill Wednesday that eliminates the Public Company Accounting Oversight Board and caps the Consumer Financial Protection Bureau's budget at roughly $249 million, a drastic reduction from its recent budgets.