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The bill requires CPAs to keep work product and workpaper related to work for a client for at least seven years after creation unless the law requires a longer retention. Current law only specifies that CPAs must retain workpaper as required by law.

Deciding on the best audit approach isn’t a cookie-cutter process. While a long-standing relationship with a client or in-depth industry knowledge can give auditors a leg up, defining an effective audit approach requires careful consideration and planning for every engagement.

Meet Alan Skelton, Director of Research and Technical Activities for the Governmental Accounting Standards Board and Hillary Salo, Director of Technical Activities and Chair of the Emerging Issues Task Force for the Financial Accounting Standards Board.

Taxation of CPA services was a hot topic in several state legislatures this year as states sought to fix expected revenue shortfalls.

The Connecticut Society of Certified Public Accountants (CTCPA) has elected and installed its Board of Directors for the 2021-2022 activity year as follows:

Twenty-five years after the first CPA certificate was granted in the United States, John W. Cromwell, Jr. became the first black CPA. This year marks the 100th anniversary of that achievement.

Looking back over a tumultuous year, we learned the value of cool heads and steady hands. After dealing with the ups and downs of the pandemic, the economy, the election and political and civil unrest, I marked some broader lessons we can glean and implement in our financial planning for 2021.

Cynthia Calderón, a tax senior at CohnReznick in Hartford, was one of three featured panelists in the CPA/SEA’s December 7 “Panel Discussion on Understanding Barriers for Minority Students in Accounting.” Cynthia, who serves as the co-chair of the CTCPA’s Diversity, Equity, and Inclusion Initiative, shared her story with CPA society executives to open their eyes toward the struggles and challenges facing minority accounting students in their quest toward becoming a CPA.

Senate Democrats are once again hoping to expand the state’s paid sick leave program to cover more workers during the upcoming legislative session.

The PCAOB released expanded details regarding its list of priorities for 2023 audit inspections, most notably risk of fraud, risk assessment and internal controls, and auditing and accounting risks.