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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.

There is going to be a big gap between accountants who use artificial intelligence and those who don't, says Randy Johnston, executive vice president at K2 Enterprises, who shares ideas for leveraging this transformative technology.

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.

By 2023-2024 CTCPA Chair Timothy Hedley, CPA, Ph.D. of Fordham University

On September 30, 2023, the CTCPA Peer Review Committee will lose a valued member as Nancy Hayes concludes her service on the committee after some 35 years. A partner at Carter, Hayes + Associates, P.C. in Hamden, Nancy has served as committee chair multiple times and on peer review subcommittees exhibiting the highest levels of professionalism. Without its volunteers, the peer review program in Connecticut could not exist. Nancy’s efforts along with the rest of the committee help firms stay compliant with complex accounting and auditing standards. Nancy’s deep knowledge, calm demeanor, and clear council will be missed!

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.

Beth Gosciminski was named manager at Harper & Whitfield, P.C (H&W). She works in both the Farmington and Simsbury locations and was promoted twice since joining the H&W team in January 2002.

On August 1, the AICPA and all 54 State CPA Societies, including CTCPA, sent a letter to the Department of Homeland Security (DHS) requesting DHS recognize accounting under the “T” for Technology in Science Technology Engineering Math (STEM) education.

Taxpayers will have the option to go paperless for IRS correspondence by 2024 filing season, IRS to achieve paperless processing for all tax returns by filing season 2025.

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.

Running an accounting firm needs constant attention as tech prices and client specifications change constantly. Practice owner Alex Falcon Huerta lays out her current tech stack and how her costs and priorities have evolved.

With so much disruption being thrust upon them, you'd think the last thing accounting firms would want to do is to disrupt themselves — yet that may be exactly what they need to do, says Bob Lewis of The Visionary Group.

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

Governor Ned Lamont today announced that he has signed into law legislation approved by the Connecticut General Assembly during the recently adjourned session that requires students to complete a half-credit course in personal financial management and financial literacy in order to graduate from Connecticut public high schools. It also adds personal financial management and financial literacy to the state’s required program of instruction for public schools.

While technology undoubtedly speeds up some of the more time-consuming aspects of accounting work, it is not a magic solution to the skills shortage. Jonathan Bareham, director of Raedan, says human expertise remains essential in building a successful firm.

The rising interest in finance automation presents a compelling growth opportunity for controllers to establish themselves as de facto finance chief information officers.

Brian Kelleher and Amber Tucker of Fiondella, Milone & LaSaracina wrote the Hartford Business Journal's "Expert's Corner" article "Nonprofits: Don't fear the merger."

"A new frontier for accountancy." Those were the words of Jeremy Osborn, FCMA, CGMA, Global Head of ESG at AICPA & CIMA, a couple of days after the International Sustainability Standards Board issued the first two standards aimed at creating a global baseline for sustainability reporting.

CironeFriedberg, LLP announced the promotion of David C. Moseman, CPA to Partner in Charge of Tax services and Nicholas DaPaz, CPA to Partner in Charge of Audit services for the firm.