Accounting

Accounting News & Professional Insight

Accounting Today delivers news, rankings, thought leadership, and analysis for accounting professionals so they can navigate change in standards, firm strategy, technology adoption, talent, and the overall business environment.

Accounting professionals are facing rapid transformation, including shifting professional standards, demographic change, technology disruption, practice consolidation, and changing expectations for advisory services. Our coverage surfaces these strategic dynamics and provides insights and analysis for firms, leaders, and the accounting profession.

Audit

Boohoo falls on report audit firms decline to work with retailer

Boohoo Group Plc, the scandal-hit fast-fashion retailer, may struggle to line up a top-flight audit firm after parting ways with PricewaterhouseCoopers.

By Lisa Pham
Reporter

October 20
Audit

IIA calls for State Department to investigate auditor deaths in Liberia

The institute is asking the U.S. government to help authorities in Liberia investigate the recent deaths of four government auditors who were looking into possible misappropriation of funds.

By Michael Cohn
Editor-in-chief, AccountingToday.com

October 19
Audit

Boohoo seeks new auditor to replace PwC; shares tumble

Boohoo Group Plc shares fell the most since August after the U.K. fast-fashion retailer caught up in a labor scandal said it’s seeking a new auditor to replace PricewaterhouseCoopers.

By Thomas Mulier
Reporter

October 19
AT Think Testing FASB’s goodwill impairment model through a pandemic

Is the current method painting the most accurate picture for private companies facing the coronavirus?

October 19

Kristy Illuzzi

American Institute of CPAs
Accounting firm services

Accountants shifting to more advisory services amid coronavirus

Accountants and tax professionals have been helping their small business clients deal with the economic fallout from the COVID-19 pandemic, shifting away from their routine compliance work after the end of the prolonged tax season.

By Michael Cohn
Editor-in-chief, AccountingToday.com

October 16
Financial reporting

Adviser highlights ‘accounting irregularities’ at GP Global

Troubled commodities trader GP Global Group has “accounting irregularities” in its books, according to the restructuring adviser hired to salvage the company’s assets.

By Anthony Di Paola and Jack Farchy

October 16
PCAOB

PCAOB board member blasts agenda change

J. Robert Brown criticized recent moves by the Public Company Accounting Oversight Board to strip down its research and standard-setting agendas without proper consultation.

By Michael Cohn
Editor-in-chief, AccountingToday.com

October 14

Resources

The latest Accounting Today research and discussion:

Predicting the next 15 years in accounting

Take a look at what the accountant and the accounting firm of the future will look like with AICPA chief Mark Koziel.

Sponsored by BILL
The changing world of government financial reporting

The serious new pressures facing governments of all sizes are changing their financial reporting, says GASB Chair Joel Black.

Sponsored by Intuit Quickbooks
Special Report Technology and CAS

Handling the compliance work that is the foundation of modern CAS while also creating time and insights for the advisory overlay that really drives its value to clients requires the careful deployment of a suite of technology tools — and that suite is constantly evolving, meaning accountants need a strategy to keep up.

Sponsored by Canopy

Accounting: Key Questions & Analysis

What are the key trends and strategies emerging from accounting industry leaders?

Top leaders are focused on structural challenges facing firms, including succession planning, evolving service mix, and long-term sustainability of traditional models.

How are accounting firms positioning themselves for the profession’s next phase?

Firm leaders are redefining and evaluating their strategy for growth. This includes investing in people and systems as well as rethinking how firms deliver value to address changing client needs and competition.

What role does professional identity play as accounting continues to change?

Debate continues over how accounting defines itself. This is due to accounting expanding into advisory, consulting, and technology-enabled services. These changes can raise questions about standards, training, and long-term credibility.

How are accounting firms managing leadership and succession risk?

Demographic shifts are accelerating in accounting. This means more firms are confronting leadership transitions and ownership succession which can create critical strategic risks that influence growth, culture, and valuation.