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The Corporate Transparency Act (“CTA”) was enacted January 1, 2021, as part of the National Defense Authorization Act, representing the most significant reformation of the Bank Secrecy Act and related anti–money laundering rules since the U.S. Patriot Act. The CTA is intended to address and guard against money laundering, terrorism financing, and other forms of illegal financing by mandating certain entities (primarily small and medium size businesses) to report “beneficial owner” information to the Financial Crimes Enforcement Network (“FinCEN”).

Generative AI technologies like ChatGPT and Bard aren't the end of the world, as sci-fi antagonists may make them out to be. But they're not demure wallflowers, either. The truth exists somewhere in between, leaving CFOs with many questions but few answers on how to integrate these game-changing tools to maximize efficiency, accuracy and insight into everyday finance and accounting.

This spring the National Association of State Boards of Accountancy (NASBA) announced an amendment to the Uniform Accountancy Act Model Rules that extends the CPA Exam testing window from 18 months to 30 months. This means that individuals will now have 30 months from receiving their first CPA Exam section passing score to successfully pass the remaining sections.

The summer Labour Market Outlook found that employers are increasingly using counteroffers in response to skill shortages, with some planning pay reviews over the next year.

A recent rise in software fees has sparked debate among practice owners about how the cost of multiple, interconnecting cloud applications should be packaged and presented to clients, whether price hikes should be passed on and when this should happen.

As ESG efforts gain traction, they may be distracting companies from other social impact issues, like the use of slave labor in supply chains.

Work/life balance is imperative to attract and retain younger workers. New research shows business leaders aren’t as enthusiastic about flexible working as employees are.

No policy issue has dominated the accounting profession over the past several decades as much as accountant education – specifically, the 150-hour education requirement.

Companies that mandate full-time office commitments are likely to experience turnover among leadership, data suggests.

While the large majority of future C-suite executives at financial services institutions don't view a fully remote work model as ideal for their roles, most are opposed to a return to fully in-office work – something that C-suite leaders of today would be wise to keep in mind.

A recent global survey from McKinsey found that leaders are looking to increase AI-related investments, but less than half have planned for the organisational risks involved.

Employees use data more than brainstorming or gut instinct when making decisions, according to a Slingshot survey.

The American Institute of CPAs (AICPA) and National Association of State Boards of Accountancy (NASBA) will launch an innovative post-graduate program this fall in collaboration with the Tulane School of Professional Advancement (SoPA). The program blends rigorous online learning with on-the-job professional experience for college accounting graduates, offering a less costly and more flexible way to complete the 150-hour course credit requirement to become a licensed CPA.

So, what can accountants do to attract the best talent and convince more job hunters to apply for roles with them? In this article, we give you our take.

Business decision makers believe generative AI models, such as the infamous talking bot ChatGPT, will either reduce the overall headcount at their organizations or increase it, depending on who is asked.

If you look after your team they will look after your clients. It will also stop them looking for jobs elsewhere.

Increasing automation and having fewer time-consuming meetings are pathways to improved efficiency, a new report finds.

Connecticut Department of Labor (CTDOL) Commissioner Danté Bartolomeo is warning Connecticut employers and residents of an uptick in unemployment benefits fraud due to identity theft. Connecticut is among states being targeted by criminals who are flooding the unemployment system using stolen identities to file for benefits. During the pandemic, stolen identities were available on the dark web for about one dollar. Criminals are still mining this resource to purchase names, Social Security Numbers, birth dates, and other personal information that they use to apply for credit cards, bank loans, and unemployment benefits. Connecticut’s unemployment system is currently receiving several thousand claims per day; CTDOL suspects around 75% are fraudulent and is withholding payment.

Finance professional and data expert Michelle Govindsamy fills in the gaps on AI’s role and how the profession will change in the future.

Generative AI will have a profoundly disruptive impact on accounting and finance, but that doesn't necessarily mean job loss. It does mean embracing new tools, and deeper automations. Sage CTO Aaron Harris breaks down the top use cases - and what we need to do next.