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 standards

IESBA proposes major revisions to independence standards for auditors

The International Ethics Standards Board for Accountants has released two exposure drafts for proposed ethical standards aimed at strengthening the non-assurance services and fee-related independence provisions of the International Code of Ethics for Professional Accountants.

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

January 22
Government accounting

Pentagon racks up $35T in accounting changes in one year

The Pentagon made $35 trillion in accounting adjustments last year alone — a total that’s larger than the entire U.S. economy and underscores the Defense Department’s continuing difficulty in balancing its books.

By Bloomberg News

January 22
Accounting standards

AICPA drafts guidance for insurance standard

The American Institute of CPAs’ Financial Reporting Executive Committee has proposed several working drafts of its guidance on the long-duration insurance accounting standard for insurance companies.

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

January 21
Gender issues

CTCPA to honor seven 'Women's Awards' recipients

The Connecticut Society of CPAs will honor four "Distinguished Service" professionals and three "Women to Watch" at its inaugural CTCPA Women's Awards Breakfast on Jan. 22.

By Sean McCabe
Senior Editor

January 21
Economic indicators

Global economic confidence rebounded in Q4, say ACCA and IMA

Global economic confidence bounced back in the fourth quarter of last year to approximately the level it enjoyed in mid-2019, with a particularly strong improvement in North America.

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

January 21
AT Think Monetize clients while building their value

CPA firms have lost sight of their central mission: building client value.

January 20

Bob Lewis

The Visionary Group
International taxes

Expat tax services directory updated and expanded

American Citizens Abroad, a group that promotes the interests of U.S.-born expatriates, has updated and relaunched its online Expat Tax Services Directory of firms providing tax services, tax preparation, accounting services, financial advisory and legal services.

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

January 20

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.