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Forewarned is forearmed -- there are a variety of sources of cyber exposure and potential liability in today s risk landscape, but with a bit of prior planning, accounting firms and professionals can better protect themselves in the event of an attack or claim.

Having an effective governance structure in place allows firms to reduce stress and burnout throughout the organization. This, in turn, correlates to better staff retention, higher profitability and less risk.

Rather than planning for retirement with a permanent mindset, clients would be well-advised to consider a more gradual approach that sustains assets but still permits time to enjoy their later years.

The 2024 NJCPA Convention & Expo, themed “Your Story. Your Success,” informed, entertained and connected more than 600 attendees with storytelling at the Borgata Hotel in Atlantic City on June 11-14.

Balancing tech-fueled efficiency improvements with a human touch will be crucial. Employers must ensure AI augments rather than replaces the human element.

AI's transformative impact on resource management offers public accounting firms a competitive edge in effectively staffing their client engagements. Through enhanced forecasting, dynamic scheduling, skill-based matching and efficiency optimization, AI enables firms to maximize their human capital.

As we move into the latter half of 2024, taxpayers and tax preparers should continue to monitor various state and local tax decisions throughout the U.S. in order to remain vigilant and responsive to the latest developments.

Social Security planning is a multifaceted challenge that requires a deep understanding of the system, strategic thinking and personalized advice. By mastering these aspects, CPAs can help clients navigate their retirement journey.

A career as a CPA with a professional services firm, private industry or in government is so much more than just audit, tax, advisory or the expanding area of wealth management. This is a profession built on serving others, something most humans inherently strive to do.

The pipeline problem will not be solved this year or next. The NJCPA, as well the other state CPA societies and the AICPA, are developing multiyear, collaborative, data-driven campaigns that will address the continuing accounting pipeline challenges.

The New Jersey Society of CPAs welcomes June M. Toth, CPA, CFF, CITP, CGMA, principal at WilkinGuttenplan P.C., as its 2024/2025 president on June 1, replacing outgoing president Edward G. O Connell, CPA, CGMA, CFF, CFE, a partner at Withum.

The Illinois CPA Society (ICPAS) released its 2024 Insight Special Feature, “Re-Decoding the Decline: An Updated CPA Pipeline Report.” Among all respondents surveyed, “time” emerged as the top-ranked challenge — or deterrent — to becoming a CPA.

At an NJCPA Accounting Educators Workshop on May 3, several of New Jersey's top accounting professors came together with accounting practitioners and the New Jersey Business & Industry Association to discuss what’s needed to entice more students to enter the accounting profession.

Non-public businesses with fiscal year ends beginning after Dec. 15, 2022, (or interim periods during 2023) should begin preparing for the adoption of Financial Accounting Standards Board ASC Topic 326 by developing policies and procedures. CPAs need to stay up on what has changed in the current expected credit loss (CECL) model and what is new such as forecasts.

The NJCPA Scholarship Fund has awarded $168,000 in scholarships to 38 New Jersey high school seniors entering college and current college students.