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.

Accounting standards

FASB technical director Susan Cosper promoted to board member

The Financial Accounting Foundation’s board of trustees has appointed Susan M. Cosper, technical director of the Financial Accounting Standards Board, as a member of the FASB board.

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

April 19
AT Think Innovation means being open to new ideas

Innovation within your accounting firm need not be overwhelming or scary at all. In fact, it can be a lot of fun and lead to greater revenues.

April 19

Lisa Benson

HLB International
Audit

U.K. regulators recommend shake-up in audit market

The United Kingdom’s Competition and Markets Authority has issued a long-awaited report calling for separation of audit from consulting services, mandatory “joint audits” and regulatory powers to increase the accountability of audit committees.

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

April 18
Audit

Auditors getting tougher in Korea in blessing for investors

South Korean auditors are refusing to sign off on more and more corporate financial statements due to tighter regulations, giving investors earlier warning signs of trouble ahead.

April 18
Lawsuits

Accounting class-action suit settlement size jumped last year

There were fewer total settlements in 2018, but the dollar figures involved increased more than fivefold.

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

April 17
Corporate taxes

Elizabeth Warren’s corporate tax plan sounds reasonable. It isn’t.

The senator really hates it when corporations that report billions of dollars in profit pay little or no tax to Uncle Sam.

April 17
Audit

KPMG, EY reported to police amid Danish laundering probes

Denmark has reported the local operations of Ernst & Young and KPMG to the police amid a widening crackdown on money laundering in the country.

April 16

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.