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

Regulator tells U.K. auditors to do better on company reports

Auditors such as KPMG LLP and PricewaterhouseCoopers LLP must do better when it comes to compiling a key part of companies’ annual reports, their U.K. regulator warned.

December 6
Accounting fraud

Ex-Tesco executives win dismissal of accounting-scandal case

The 2014 scandal prompted a boardroom house-cleaning and an overhaul of the U.K. grocer’s supplier relations.

December 6
Tax returns

IRS pushes back Dec. 5 deadlines to Dec. 6

In honor of George H.W. Bush, filers have an extra day.

By Jeff Stimpson
Freelance writer

December 5
Accounting standards

Lease accounting changes expected to cost millions

Companies are expanding their budgets to accommodate the new leasing standard, according to a new survey by Ernst & Young.

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

December 4
AT Think Credit unions and community banks face different CECL challenges

The new accounting standard will have a varying impact on financial institutions.

December 4

Amanda Rousseau

Sageworks
Career moves

Ernst & Young global chair and CEO Mark Weinberger stepping down

The global chairman and CEO is planning to step down after six years running EY’s global network.

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

December 3
Audit standards

AICPA issues new standard for ERISA benefit plan audits

The American Institute of CPAs’ Auditing Standards Board voted to issue a long-awaited standard on audits of financial statements of employee benefit plans, although it is still awaiting some details before the standard takes effect.

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

December 3

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.