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.

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IASB Plans Cooling-Down Period for New Standards

International Accounting Standards Board chairman Hans Hoogervorst told attendees at a financial conference in Mexico City that the board plans to give accountants a period of relative stability to give them time to adjust to all the new standards.

March 8
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Changes Proposed for Engagement Team Ethics

The International Ethics Standards Board for Accountants has released for public exposure proposed changes to the definition of engagement team in the IESBA Code of Ethics for Professional Accountants.

March 2
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FASB and IASB Part Ways on Leasing Standards

The Financial Accounting Standards Board and the International Accounting Standards Board are not seeing eye to eye on an important component of their leasing standards project involving income statement changes for lessees.

March 1
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SEC Proposes Red Flags Identity Theft Rules

The Securities and Exchange Commission has proposed new rules aimed at safeguarding investors from identity theft by requiring broker-dealers, mutual funds and other SEC-regulated entities create programs to detect and respond to “red flags” indicating possible identity theft.

February 28
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PCAOB Proposes Related-Party Audit Standard

The Public Company Accounting Oversight Board voted Tuesday to issue for public comment a proposed auditing standard on related-party transactions, and to amend standards on significant unusual transactions and auditors of broker-dealers.

February 28
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Accounting Boards Plan More Outreach on Revenue Recognition

The Financial Accounting Standards Board and the International Accounting Standards Board are planning to host a series of outreach meetings around the world on their latest proposals for changes in the standards for revenue recognition.

February 17
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FASB Meets with Japanese Counterparts

Members of the Financial Accounting Standards Board held a two-day meeting this week with officials from the Accounting Standards Board of Japan how they could better align accounting rules.

February 10

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.