News

The intergenerational transfer of wealth is happening and there will be a significant number of SMBs looking to exit in the near future as a result. With this, there will be opportunities for CPAs to connect to the next generation of entrepreneurs and wealth holders. These opportunities come with a generational caveat — there are fewer CPA graduates, meaning more work with less time.

The Connecticut Society of Certified Public Accountants (CTCPA) has elected and installed its Board of Directors for the 2024-2025 activity year at its Annual Meeting held at the Aqua Turf Club in Plantsville.

The Connecticut Society of Certified Public Accountants (CTCPA) honored Avon resident Drew G. Andrews, CPA of Whittlesey with the 2024 Jack Brooks Leadership Award at the CTCPA Annual Meeting on May 16. The Jack Brooks Leadership Award is presented annually to a CTCPA member whose personal efforts have advanced the accounting profession and strengthened the organization. It is named in memory of former CTCPA Executive Director Jack Brooks, a loyal champion of Connecticut CPAs.

The Internal Revenue Service is currently drafting proposed regulations on digital asset reporting requirements, but their final direction remains uncertain.

Connecticut State Senator James Maroney issued a statement Friday decrying the government’s failure to come up with regulations for artificial intelligence as misuse of the technology continues in the open market.

The agency outlined a list of eight “AI Principles for Developers and Employers” on Thursday, following up on a 2023 directive from the White House.

The tax benefits of private placement variable annuities for wealthy clients are drawing scrutiny and calls for a federal crackdown — but they're not going away anytime soon.

A new national survey reveals “time” is why more accounting majors and young professionals are skipping over becoming certified public accountants.

An independent national group featuring stakeholders from throughout the accounting profession published a draft set of recommendations for tackling the talent shortage.

Congratulations to these CTCPA members who received their CPA credential this year!

The PCAOB on Monday adopted a pair of foundational auditing standards with ties to AICPA standards.

The IRS issued final regulations (T.D. 9997) on Tuesday that finalize the reduction of the fees for the application and renewal of preparer tax identification numbers (PTINs) to an $11 user fee plus an $8.75 third-party contractor fee, for a total annual fee of $19.75. That fee amount has been in place since Oct. 19, 2023.

If your business is covered by the FTC’s Gramm-Leach Bliley Safeguards Rule, an amendment to the Rule that requires covered companies to report certain data breaches and other security events to the FTC is now in effect – and we’ve made it easy for you to report.

How has the continuing rise of economic pressures affected the landscape for finding and gaining new clients? Molly Macfarlane gains the perspective of the community alongside small, medium and large firms to understand the current state of landing new clients.

Connecticut’s five Democratic members of the U.S. House of Representatives were coronated on Monday as members of their party renominated them each to run for another two-year term in Congress.

Connecticut’s 2024 legislative session ended on Wednesday night with lawmakers passing a bevy of bills concerning housing, elder care, K-12 education and more.

Cheshire Academy Chief Financial Officer Matthew Piechota won the National Business Officers Association (NBOA) Will Hancock Unsung Hero Award, recognizing chief business officers who have made extraordinary contributions to their schools. Piechota was one of just nine 2024 recipients internationally.

Ninety-two per cent of professionals across finance, accounting, sustainability, and audit roles think technological transformation will enable an integrated and improved approach to ESG reporting.

CFOs and finance leaders share their takes on whether CPA requirement changes are necessary to address talent issues within corporate finance.

As the clock neared midnight and the end of the General Assembly’s annual session, the Senate gave final passage Wednesday to a Democratic bill written to obscure its goal of providing state aid to striking workers.