News
Housing Bill Banning Some AI Data Advances Out Of Judiciary Committee
April 07, 2025
Renters and housing developers could benefit from a housing bill that advanced Friday out of the Judiciary Committee.
Retirement snapshot: 3 things to know about the average pre-retiree
April 07, 2025
Yes, every candidate for retirement is different. But, whether you’re an individual beginning to eye retirement or a financial planner with a constant eye on helping your clients successfully retire, a snapshot of the typical would-be retiree can provide perspective worth considering.
IRS: 7,000 probationary workers will return to their jobs in next 10 days
April 04, 2025
About 7,000 probationary IRS workers who lost their jobs in February and were placed on administrative leave in March will return to work later this month, according to an email they received Tuesday.
Pave the way: Neurodivergent leaders can make a ‘huge difference’
April 04, 2025
A finance professional and a social impact entrepreneur discuss how being neurodivergent has affected them at work and explore ways organisations can be more inclusive.
Continuous auditing: A new era or a challenge to tradition?
April 03, 2025
External auditors have long been tasked with ensuring financial integrity, detecting fraud and providing an independent opinion on a company's financial statements.
Trump’s tariffs are ‘a six-letter word for tax,’ Ned Lamont says
April 02, 2025
Lamont, other Democrats pounced on Trump tariffs, not waiting for details.
A Guide to Maximize Your CPA Firm Sale
April 01, 2025
Whether you are approaching retirement age, want to spend more time with your family, or looking to start something new, selling your CPA firm requires proper preparation. Careful consideration of timing and paying attention to details can help ensure a smooth process when you are ready to sell your CPA firm.
AICPA Applauds Passage of Bipartisan Bills to Improve Tax Administration and Offer Relief to Taxpayers, Practitioners
April 01, 2025
In a letter to the House of Representatives, the American Institute of CPAs (AICPA) endorsed four bipartisan bills, all of which have received overwhelming support in the House. These bills, which were also included in the recent Senate discussion draft, will improve transparency and fairness for taxpayers and are strongly supported by the AICPA.
FASB Staff Educational Paper Clarifies Guidance on the Presentation and Disclosure of Retainage for Construction Contractors
April 01, 2025
The Financial Accounting Standards Board (FASB) today announced the release of an FASB Staff Educational Paper that addresses questions about how to apply revenue recognition guidance about presentation and disclosures to construction contracts that contain retainage (or retention) provisions. The educational paper, which does not change or modify current generally accepted accounting principles (GAAP), was prompted by input from private company stakeholders, including the Private Company Council.
PCAOB Releases 2024 Annual Report
April 01, 2025
The PCAOB has released its 2024 Annual Report(PDF). The Annual Report discusses how the PCAOB advanced its investor-protection mission during fiscal year 2024 and provides the PCAOB’s financial results, including audited financial statements, the auditor’s report, and management’s report on internal control over financial reporting.
Connecticut’s First AI Caucus Focuses On Regulation, Equity, And Workforce Readiness
March 31, 2025
Connecticut lawmakers announced the formation of the state’s first Artificial Intelligence Caucus last week, highlighting the rapid spread of AI in everyday life and the need to ensure that it serves the public interest.
GASB Requests Input on Severe Financial Stress and Probable Dissolution Disclosures
March 31, 2025
The Governmental Accounting Standards Board (GASB) issued a Preliminary Views (PV) today for public comment on proposals associated with accounting and financial reporting for severe financial stress and probable dissolution disclosures.
PCAOB Posts Report Detailing Significant Improvements Across Largest Firms, Alongside Inspection Results In Record Time
March 31, 2025
Following focused efforts by the PCAOB to drive improvement, the aggregate Part I.A deficiency rate across firms is expected to drop seven percentage points year over year.
Trump freezes $14 million in aid for K-12 education in CT
March 31, 2025
Education Secretary Linda McMahon notified CT officials late Friday.
CT leaders say they’ll counter swiftly if Trump cuts more federal aid
March 28, 2025
Lamont and legislators must decide how deeply to tap flush state coffers.
Debate over CT pension calculations heats up
March 28, 2025
Some lawmakers want to remove overtime earnings from retirement pay.
Earned Income Tax Credit celebrates 50 years of helping working families
March 28, 2025
The Earned Income Tax Credit (EITC) has played a crucial role in helping millions of low-to-moderate income workers out of poverty. Saturday, March 29, 2025, marks the 50th anniversary of this important credit.
IFRS launches tool to help companies implement ISSB standards
March 28, 2025
The IFRS Foundation launched an interactive tool to help jurisdictions develop approaches for the adoption of ISSB standards into their regulatory frameworks.
SEC ends legal defense of its climate rules
March 28, 2025
The climate disclosure rules adopted a year ago by the SEC will no longer be defended in court by the commission after a vote Thursday.
Tax departments can avoid mistakes ahead of the TCJA sunset
March 28, 2025
As the expiration of key Tax Cuts and Jobs Act provisions looms, tax professionals are preparing for what could be another period of upheaval.