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

Changes Coming to Internal Audit Standards

The Institute of Internal Auditors has announced that a set of revisions will be made to internal auditing standards, taking effect at the beginning of next year.

October 2
Finance

GASB Chairman Attmore to Retire in 2013

The Board of Trustees of the Financial Accounting Foundation announced that Robert H. Attmore, chairman of the Governmental Accounting Standards Board, will retire in June 2013.

October 2
Audit

IAASB Revises Review Engagements Standard for SMEs

The International Auditing and Assurance Standards Board has released a revised version of its International Standard on Review Engagements to better meet the needs of small and midsized entities.

September 28
Audit

IASB Re-exposes Latest Insurance Contract Standards

The International Accounting Standards Board has decided to re-expose the latest version of its ongoing project aimed at revising the accounting standards for insurance contracts and is seeking feedback.

September 28
Audit

Private Company Council Chairman and Members Appointed

The Financial Accounting Foundations board of trustees appointed former NASBA chairman Billy Atkinson as chairman of the new Private Company Council, and named the other members of the new council, which will be able to recommend and vote on changes to accounting standards for privately held companies.

September 19
Audit

COSO Issues ED on Internal Control Over External Reporting

The Committee of Sponsoring Organizations of the Treadway Commission has released an exposure draft of its Internal Control over External Financial Reporting: Compendium of Approaches and Examples.

September 18
Financial reporting

10 Years After SOX

As we acknowledge the 10th anniversary of the Sarbanes-Oxley Act, we are once again in a period of re-examination of the role, relevance and reliability of financial audits in protecting investors and the public interest. This seems to be, in part, a reaction to the financial crisis of the past few years.

September 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.