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.

AT Think The transformation to advisory services: A few observations from the road

Prior to this unprecedented time for our community, I had been traveling the country for nearly 10 months, meeting with large accounting firms for one-on-one deep dives into their advisory workflows and client experience.

April 20

Robbie Randall

Intuit
GASB

GASB releases guidance on accounting for public-public partnerships

The Governmental Accounting Standards Board published guidance Monday to improve accounting and financial reporting for public-public partnership arrangements — also known as P3s — along with public-private and availability payment arrangements (APAs).

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

April 20
Coronavirus

Coronavirus affecting plans at IAASB

The International Auditing and Assurance Standards Board released its 2020-2023 strategy and 2020-2021 work plan, while acknowledging that the COVID-19 pandemic could throw those plans out of whack.

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

April 20
Audit

EY must pay $10.8M to whistleblowing auditor

Ernst & Young must pay $10.8 million to an auditor who blew the whistle on wrongdoing at a Dubai gold refiner in another black eye for the U.K. accounting industry.

By Bloomberg News

April 20
AT Think Rebooting for a new normal post-coronavirus

Small and midsized firms need to prepare for a world of reduced liquidity and lower organic growth.

April 20

Dom Esposito

Esposito CEO2CEO, LLC
AT Think Setting your firm’s priorities amid the coronavirus crisis

Major changes are required in client services, delivery models, staffing practices and management.

April 16

Tamera Loerzel

ConvergenceCoaching LLC
GASB

GASB suggests postponing all effective dates due to coronavirus

The Governmental Accounting Standards Board is proposing to delay the effective dates of provisions for all Statements and Implementation Guides by one year.

By Sean McCabe
Senior Editor

April 16

Resources

The latest Accounting Today research and discussion:

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
The future of the accounting workforce

While concerns remain about the profession's pipeline of new accountants, Cathy Moy, chief people officer at BDO USA, sees plenty of ways to keep it full.

Sponsored by Intuit Quickbooks

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.