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.

Regulatory actions and programs

Financial Crisis Group Debates Accountants' Role

An international group of accountants, regulators, bankers and business luminaries met to discuss the impact of the financial crisis and the implications for financial reporting.

February 13
Regulatory actions and programs

IASB Chair Meets with New SEC Chair

The International Accounting Standards Board wants the U.S. to remain committed to its roadmap for transitioning to International Financial Reporting Standards and is making the case directly to the new SEC chairman.

February 12
Audit

Financial Accounting Foundation Elects New Chair

The Financial Accounting Foundation has chosen John J. Brennan, chairman of mutual fund giant Vanguard Group, as its new chairman and a member of its board of trustees.

February 12
Audit

SEC Begins XBRL Mandate for First 500 Companies

The Securities and Exchange Commission has begun requiring 500 of the largest companies to start filing their financial statements in an interactive data format.

February 11
Audit

SEC Chair Wants to Beef up Enforcement

Securities and Exchange Commission Chairman Mary Schapiro announced plans to make it easier for SEC staff to bring enforcement actions and indicated that the Financial Accounting Standards Board would further modify fair value accounting standards.

February 9
Audit

KPMG Manager Joins SEC Chief Accountant Office

The Securities and Exchange Commission has appointed Robert Malhotra as a senior advisor in the SEC’s Office of the Chief Accountant.

February 9
Audit

Madoff Reaches Partial Settlement with SEC

The Securities and Exchange Commission said that Bernard Madoff has consented to a proposed partial judgment imposing a permanent injunction on him.

February 9

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.