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

Thomson Reuters Releases Report on New IRS Regs

Thomson Reuters released a report on the IRSs new regulations impacting taxpayers who acquire, produce or improve tangible property.

December 11
Audit

IASB Seeks Comment for Annual IFRS Amendments

The IASB published for public comment Wednesday an exposure draft of five proposed amendments to four International Financial Reporting Standards under its annual improvements project.

December 11
Accounting standards

Study: CEOs Have Too Many Friends on the Audit Committee

A new study finds almost 40 percent of researched companies have audit committee members with social ties to the CEO.

December 10
Audit

Doty: Is the Audit Irrelevant?

While the flow of high-quality information is critical to the functioning of capital markets, many are coming to see the independent audits that vouch for that information as irrelevant, according to PCAOB Chairman James Doty.

December 9
Audit

PCAOB: Engagement Quality Reviews Need Work

Audit firms may not be appropriately executing engagement quality review, according to the Public Company Accounting Oversight Board.

December 6
Audit

FASB Admits Problems with Income Tax Accounting Standard

The Financial Accounting Standards Board acknowledged Tuesday that a 1992 standard on accounting for income taxes did little to simplify the accounting.

December 3
Audit

The Road Ahead for GAAP

FASB Chairman Russell Golden looks at what's to come

December 1

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.