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

CAQ Offers Advice on Communicating with Audit Committees

The Center for Audit Quality issued a practice aid Wednesday to encourage audit firms to proactively communicate with audit committees about inspection findings and quality control improvements.

October 10
Audit

SASB Aims to Set Sustainability Accounting Standards

A new nonprofit organization plans to establish industry-specific accounting standards for corporate sustainability reporting.

October 4
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

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.