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The Financial Accounting Standards Board (FASB) today announced that the U.S. Securities and Exchange Commission (SEC) has accepted the 2025 GAAP Financial Reporting Taxonomy (GRT), the 2025 SEC Reporting Taxonomy (SRT), and the 2025 GAAP Employee Benefit Plan Taxonomy (EBPT). The FASB also finalized the 2025 DQC Rules Taxonomy (DQCRT) and the 2025 GAAP Meta Model Relationships Taxonomy (MMT), which together with the GRT, the SRT, and the EBPT are collectively referred to as the “FASB Taxonomies.”

Between multiple waves of layoffs and legislative efforts to pull back more than $20 billion in funding, the gradual declawing of the Internal Revenue Service is well underway.

Five high-level strategic initiatives serve as the backbone of the AICPA Auditing Standards Board's (ASB's) proposed 2026–2030 strategic plan.

We’re delighted to see two CTCPA members honored on the Hartford Business Journal’s “2025 Women in Business” list: - Melissa L. Ferrucci – CohnReznick (Office Managing Partner, Connecticut Offices) - Susan DeRosa Jackson – KPMG LLP (Office Managing Partner, Hartford)

Form AP disclosures reveal exactly who has participated in the audits of public companies – and account for a large number of inspection deficiencies

The Private Company Council (PCC) has published its 2024 Annual Report to highlight the PCC’s accomplishments and activities.

Advocates say tax relief is needed more than ever as Washington shrinks programs.

At his session on day one of the Festival of Accounting & Bookkeeping, Richard Murphy reflected on how the profession has changed and how accountants need to move with the times.

The General Law Committee held a public hearing Wednesday to discuss various bills, including Senate Bill 3, “An Act Concerning Consumer Protection and Safety.”

A bipartisan group of lawmakers has reintroduced legislation to allow immediate expensing of research and development costs, all the way back to 2022 when the tax break expired.

However, larger companies with over $500 million in annual revenue are significantly more likely, according to McKinsey’s latest report.

Gen Y employees typically see greater advantages in working in the office rather than at home, compared with their Gen Z colleagues.

If you have a refund check coming your way, consider using it to bolster your personal balance sheet.

As artificial intelligence increasingly shapes hiring, workplace surveillance, and wages, Connecticut lawmakers are debating whether to impose new safeguards. AI-driven systems are already determining pay rates, particularly in gig-economy jobs like those with Uber and Lyft, in which algorithms set fares and driver earnings without transparency.

Technology modernization isn't just another item on the corporate agenda—it ranks among the top four strategic priorities for IT leaders in 2025, according to Robert Half’s latest Demand for Skilled Talent report. That’s no doubt why 55% of technology and IT leaders cited technical debt as their primary barrier to accomplishing their goals.

An AICPA Professional Ethics Executive Committee (PEEC) task force is seeking feedback after issuing a discussion memorandum featuring its preliminary conclusions about potential revisions to independence rules related to alternative practice structures.

The General Assembly’s Judiciary Committee on Friday morning heard testimony – at times heated – on a bill that would give the state’s Office of the Attorney General new tools to pursue investigations into antitrust violations in the state.

The Big Four accounting firm aims to integrate many member firms, particularly smaller ones, into larger operations.

Sen. Mae Flexer and Rep. Matt Blumenthal have reintroduced legislation this year to ban the use of non-disclosure agreements in Connecticut workplaces.

There are many reasons for a business owner to develop a succession plan. It can ensure continuity and minimize disruptions, especially in the face of an unexpected death. It also can help prepare employees for future leadership roles.