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95% of Accountants Satisfied With Current Role

November 20, 2023

Good pay, global job opportunities, and job security topped the list of reasons, according to a ShareFile survey of accountants.

  • business and industry
  • career resources
  • practice management

Art of Accounting: Looking forward to the next 10 years

November 20, 2023

My first thought for a 10th anniversary column was to describe the changes in the last 10 years. A second reaction was to recall my greatest columns. I then realized that looking back or even at the present were exercises in vanity and would not provide any takeaways. To be successful you need to look to the future and be anxious to adopt the changes that are quickly occurring.

  • accounting and auditing
  • practice management
  • federal tax

Demand for GenAI Skills Explodes in 2023

November 20, 2023

More than 10,000 jobs seeking wherewithal in generative AI have been posted so far this year.

  • business and industry
  • practice management

Gen Z Set to Outnumber Baby Boomers in the Workforce

November 16, 2023

Pivotal culture changes are ahead, as Gen Z workers become a more dominant presence in the workplace.

  • business and industry
  • career resources
  • practice management

Internal auditors optimistic on economy, talent but risks remain

November 16, 2023

Internal auditors are less worried about economic uncertainty and talent availability going into 2024, despite ongoing risks in both areas, with most focus going instead into technology-related areas.

  • accounting and auditing
  • practice management

How artificial intelligence can help save accounting

November 15, 2023

Whether or not you're on the artificial intelligence (AI) bandwagon, you'll want to pay attention to the rapid advances in the generative pretrained transformer, better known as GPT, the large learning model used by ChatGPT.

  • practice management
  • technology and cybersecurity

Companies With Flexible Remote Work Policies Outperform On Revenue Growth: Report

November 14, 2023

mployees frustrated with their CEOs’ return-to-office mandates have tried arguing that remote work is linked with greater productivity. That it helps the environment with fewer commutes and improves diversity by broadening the talent pool. Now, they may have another argument to get their CEOs’ attention: Higher revenue growth.

  • business and industry
  • practice management

Take action now to beat burnout

November 13, 2023

As the busy season lumbers into view, Lucy Cohen offers some practical and effective tips to help you banish burnout.

  • career resources
  • practice management

Can AI work in harmony with HR and employment law?

November 06, 2023

Within HR and employment law AI will change the way we work, but it will not eliminate the need for expert, professional advice on specialist or complex issues.

  • business and industry
  • practice management
  • technology and cybersecurity

The ERC nightmare (podcast)

November 06, 2023

Lots of businesses have claimed the Employee Retention Credit who don't actually qualify for it — and in many cases it's going to be up to their accountants to set them right. Randy Crabtree of Tri-Merit Tax Specialty Tax Professionals and the Unique CPA podcast dives into how you can know if a client qualifies, as well as the intricacies of some other major tax credits.

  • practice management
  • federal tax

2023 National Management of an Accounting Practice (MAP) Survey Released

October 31, 2023

The results are in! The public accounting profession’s premier benchmarking tool helps firms understand how they perform compared to others and better manage their business. Firms are able to benchmark their operations with those similar in size and region and also against top-performers, through a dynamic survey platform.

  • practice management

Changing the narrative for black accountants

October 31, 2023

In honour of Black History Month, Will Cole chats with Deloitte director Ololade Adesanya on how her experiences in accountancy have helped her to be successful in the profession and how firms can better support those from underrepresented backgrounds.

  • diversity
  • practice management

Connecticut Releases Guidelines for CPA Exam Credits of Candidates

October 25, 2023

Connecticut has passed four directives regarding CPA Exam credit retention.

  • business and industry
  • career resources
  • practice management
  • advocacy - state

John Raspante of McGowan Pro Features in 'Emerging Risks for Accountants' Podcast

October 16, 2023

John Raspante, risk management director at McGowan Pro, was featured in the Accounting Today podcast "Emerging risks for accountants." John and McGowan Pro Senior Vice President Stephen Vono spoke with Dan Hood on the new areas that are sparking claims against firms — and the tools they can use to protect themselves.

  • business and industry
  • member news
  • practice management
  • technology and cybersecurity

Why should CPAs understand ChatGPT?

October 14, 2023

Mfon Akpan, CGMA, DBA, an assistant professor of accounting at Methodist University, and Scott Dell, CPA, DBA, an assistant professor of accounting at Francis Marion University, explain why CPAs and other professionals can be left behind professionally if they don't spend time learning about tools such as ChatGPT. They talk about productivity gains, the competitive divide that could develop, and how, in the short term, more training is needed to fully harness generative AI.

  • accounting and auditing
  • business and industry
  • practice management
  • technology and cybersecurity

Pool of Accounting Graduates Continues to Shrink in U.S., AICPA Report Finds

October 12, 2023

The number of students earning U.S. postsecondary accounting degrees fell sharply in the 2021-22 academic year, according to a biennial American Institute of CPAs (AICPA) report on trends related to accounting graduation rates, the CPA Exam and hiring demand by accounting firms. Some 47,067 students earned a bachelor’s degree in accounting in the 2021-22 school year, down 7.8% from the previous year, according to 2023 Trends: A Report on Accounting Education, the CPA Exam and Public Accounting Firms’ Hiring of Recent Graduates. The number of students who earned a master’s degree in accounting, meanwhile, fell 6.4% to 18,238. In the previous Trends report, the comparative rates of decline were 2.8% and 8.4%, respectively.

  • accounting and auditing
  • career resources
  • practice management

FinCEN proposes BOI reports deadline extension for certain companies

October 06, 2023

Treasury's Financial Crimes Enforcement Network (FinCEN) issued a Notice of Proposed Rulemaking (NPRM) on Wednesday that would extend the deadline for companies created or registered in 2024 to file their first beneficial ownership information (BOI) reports. The NPRM (RIN 1506-AB62) would provide 90 days for those companies to file initial reports rather than the original deadline of 30 days from the earlier of the date on which the company receives actual notice that its creation or registration has become effective or the date on which the secretary of state first provides public notice that the company has been created or registered.

  • accounting and auditing
  • business and industry
  • forensic accounting and fraud
  • practice management
  • advocacy - federal
  • boi

State Board of Accountancy Extends Credit Periods for CPA Exam Sections Passed During Pandemic

September 29, 2023

In response to significant health, economic, education, and travel disruptions resulting in CPA Examination candidate hardships, the Connecticut Board of Accountancy will extend credit periods through June 30, 2025, for CPA Examination credits that expired from January 30, 2020(1) through May 11, 2023(2), which have not been subsequently replaced by new credits for the same sections. (1) The United States Department of Health and Human Services declared a national Public Health Emergency. (2) The United States Department of Health and Human Services announced the expiration of the national Public Health Emergency.

  • career resources
  • practice management

AI in Hiring: 4 Steps to Avoid Legal Headaches

September 19, 2023

If AI tools used for hiring are not thoughtfully implemented, it can create new challenges in the form of biased decision-making and possible litigation.

  • business and industry
  • career resources
  • practice management

Bonnie Stewart, Drew Andrews, and Brian Kelleher Quoted in HBJ Article on Accounting Talent Crunch

September 18, 2023

Accounting firms continue to grapple with significant labor shortages, as veteran employees retire in droves and fewer young graduates enter the field. CTCPA Executive Director Bonnie Stewart, Whittlesey Managing Partner and CEO Drew Andrews, and FML Partner Brian Kelleher were all quoted in the Hartford Business Journal article 'Numbers Crunch: Accounting firms turn to recruiters, high schools, apprenticeships in urgent search for new talent.' More than 300,000 U.S. accountants and auditors left their jobs in the past few years, according to Bureau of Labor Statistics data, leading to a 17% decline in employed accountants compared to 2019.

  • business and industry
  • career resources
  • member news
  • practice management