News
With AI, no more 'wait and see'
January 29, 2024
There's a notable shift in the perception and acceptance of artificial intelligence unfolding within the accounting profession, as a growing number of firms explore the various applications of AI and generative AI, and the improved efficiencies and competitive edge to be gained from them.
Sustainability incentives: A bonus for company leaders
January 26, 2024
More than four in five companies in a global study offered ESG-related executive incentives in 2023, up from two in three companies just two years ago.
BOI reporting and unauthorized disclosure penalties increased
January 25, 2024
Inflation adjustments have significantly increased the civil monetary penalties for violating the beneficial ownership information (BOI) reporting rules and for the unauthorized disclosure or use of BOI. The rules requiring the reporting of BOI just went into effect this month.
5 Risks for CFOs to Manage in 2024
January 24, 2024
Prevalent threats range from a contentious presidential election and expectations for a benign end to inflation to the hazards of adopting generative AI.
ESG needs business – not just environmental – focus
January 24, 2024
Richard Spencer, ICAEW’s director of sustainability, talks to Neil Cutting about the need for finance leaders to view sustainability through a business lens.
As excitement about Gen AI grows, can companies keep up?
January 23, 2024
Generative artificial intelligence (Gen AI) is a fast-moving train. Perhaps that's why many companies seem unsure about when to hop onboard.
Cybersecurity poses present and future challenges, report finds
January 16, 2024
Present and long-term concerns about cybersecurity are top of mind for C-suite executives around the world, a new report from global consulting firm Protiviti found. Cyber threats have climbed the ranks of the annual report's global risks, going from 15th place last year to third in 2024, and up from 13th to the top risk facing organisations 10 years out.
2024 Workplace Outlook: Office Space, Remote Work, and AI
January 12, 2024
CFOs from Trusted Media Brands and Komprise share their takes on what work will look like in 2024.
IRS provides initial guidance to employers setting up emergency savings accounts for their employees
January 12, 2024
The Internal Revenue Service today issued initial guidancePDF to help employers with implementation of pension-linked emergency savings accounts (PLESAs). Authorized under the SECURE 2.0 Act of 2022, PLESAs are individual accounts in defined contribution plans and are designed to permit and encourage employees to save for financial emergencies.
Employee or independent contractor? DOL issues new guidance
January 10, 2024
A new U.S. Department of Labor (DOL) rule offers guidance for employers related to determining whether to classify a worker as an employee or independent contractor under the Fair Labor Standards Act (FLSA). The DOL said the new regulation (RIN 1235-AA43), published in the Federal Register on Wednesday, returns to an "economic reality test" for determining workers' status under the FLSA.
Are You Exempt from Reporting Under the Corporate Transparency Act?
January 09, 2024
The beneficial ownership information reporting rule implementing Section 6403 of the Corporate Transparency Act (CTA) became effective on January 1, 2024. Under the CTA, every “reporting company” must file a beneficial ownership information (BOI) report with the U.S. Financial Crimes Enforcement Network (FinCEN). With the CTA now in effect, many will face the threshold question: “Does my entity need to file a BOI report?”
Employee Benefits Trends for 2024: What Does the Future of Employee Benefits Look Like?
January 09, 2024
When considering what is trending in employee benefits, many workplaces are still adjusting to a post-pandemic landscape, and employees’ priorities continue to reflect an increased commitment to mental and physical health, flexibility, and work/life balance.
Employees ‘unsure' of company ethics guidelines for AI
January 02, 2024
Emerging technologies continue to divide opinion, says a global report, with employees simultaneously seeing potential for social good and ethics missteps.
6 Tips to Successfully Transition to a Small Business CFO Role
January 01, 2024
Building relationships, assessing the financial situation, and getting to know the business are key when transitioning into a new CFO role at a small business.
Accounting in 2024: The year ahead in numbers
December 29, 2023
With 2024 upon us, it's time — or perhaps past time — to start considering what the new year will bring, and for accounting firms to start making plans about how to grow over the next 12 months.
How to Make the Hybrid Work Model a Success in Your Organization
December 23, 2023
Three years ago, when COVID-19 shook the world, it also shook up how we work. Gone are the days when a nine-to-five routine inside the same four walls was just how things were done. Fresh and flexible approaches have emerged that address both employee desires and business needs. One of these approaches is the hybrid work model.
The 2023 Top 100 People: Fixing the pipeline problem
December 20, 2023
The talent shortage is currently the biggest challenge in accounting — as the 2023 Top 100 Most Influential People have all attested. But how would this year's top leaders and innovators recommend the profession remedy the this urgent issue?
IRS expands access to business tax accounts, adds features
December 19, 2023
Individual partners of partnerships and individual shareholders of S corporations can now open IRS business tax accounts, which previously were available only to sole proprietors, the IRS said Monday in launching the second phase of a new online self-service tool for businesses.
Want to Leverage the Power of AI? It Starts With a Solid Data Foundation
December 19, 2023
Data is fueling the emerging artificial intelligence age — build the right data infrastructure and you will find yourself moving forward much faster.
Connecticut CPA Magazine Excerpt: The Role Accountants Can Play in Preparing for Future ESG Requirements
December 18, 2023
The business world is undergoing a profound transformation that extends far beyond traditional financial statements and profit margins. The pace of societal change and environmental impacts has elevated the focus around the impact of business activities on the environment and society. Environmental, Social, and Governance (ESG) considerations have often become embedded into the enterprise risk management process, influencing investment decisions, shaping corporate reputations, and impacting regulatory requirements.