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.

Career moves

WICPA picks Tammy Hofstede as new CEO

The incoming chief has been with the institute for 26 years, and succeeds Dennis Tomorsky on Jan. 1, 2019.

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

December 7
Accounting fraud

Steinhoff falls as PwC probe delayed a year after crisis began

The news comes exactly a year after the disclosure of accounting irregularities and the resignation of its CEO threw the company into crisis.

December 6
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

Resources

The latest Accounting Today research and discussion:

Beyond the Buzz: Moving from AI Hype to Meaningful Impact

Weaving AI into client records, workflows, documents, and billing allows accounting firms increase to by offering client accounting services. Learn why an integrated platform outperforms standalone accounting solutions.

Partner Insights from Canopy
Beyond Research: Unlocking Hidden Value from AI

Generative AI adoption among accounting firms doubled in just one year. But many firms are barely scratching the surface, using AI primarily for tax research rather than to reimagine workflows

Partner Insights from Thomson Reuters
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

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.