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

Accounting Standards Advisory Forum Holds First Meeting

Members of the Accounting Standards Advisory Forum held their inaugural meeting in London on Monday and Tuesday and signed a joint memorandum of understanding under which the standard-setters from around the world will provide advice to the International Accounting Standards Board.

April 9
Career moves

Iowa Auditor of State David Vaudt to Chair GASB

The Financial Accounting Foundation has named Iowa Auditor of State David A. Vaudt as the next chairman of the Governmental Accounting Standards Board, succeeding Robert Attmore.

April 4
Accounting standards

SEC OKs Social Media for Disclosure

A report from the Securities and Exchange Commission clears companies to use social media outlets like Facebook and Twitter to announce key information, provided that investors have been alerted about which social media will be used.

April 2
Audit

FASB Proposes Update to Reporting on Discontinued Ops

The Financial Accounting Standards Board is proposing improvements to financial reporting about discontinued operations of major business lines or major geographic areas of operations.

April 2
AT Think The Spirit of Accounting: The Answer Is in Truth-Telling, Not Detailed or Broad Standards

We are republishing some classic Spirit of Accounting columns while we're extra-busy with a new major project. We selected this one because (alas!) several of its points are just as valid today as they were when it was printed in October 2002

April 1
Regulatory actions and programs

Assurance News

A roundup of audit & assurance news from the previous month

April 1
Audit

A Mixed Report Card

A new report from the Public Company Accounting Oversight Board found that firms that audit 100 or fewer public companies showed a reduced rate of reported deficiencies in their 2007 through 2010 inspections, but in 2011, the rate of deficiencies showed little sign of declining.

April 1

Resources

The latest Accounting Today research and discussion:

Accounting firm services

Practice management

Consulting
Trusted Advisor 2.0

By Daniel Hood

September 28
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

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.