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

El Paso Settles Energy Fraud Charges with SEC

Energy company El Paso Corp., its subsidiaries and five former employees settled fraud charges with the Securities and Exchange Commission for improperly inflating proven oil and gas reserves and providing misleading financial statements.

July 15
Tax practice

Bernanke, Paulson Back Convergence

Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson expressed their support for the convergence of International Financial Reporting Standards with U.S. generally accepted accounting principles.

July 13
Accounting standards

SEC Charges Sycamore in Backdating Case

The Securities and Exchange Commission has charged Sycamore Networks and three of its former executives with stock options backdating charges.

July 10
Audit

SEC Convenes Fair Value Roundtable

The Securities and Exchange Commission convened a roundtable of experts to discuss the controversial topic of fair value measurements in accounting.

July 9
Audit

CAQ to Host Final Dialogue Event

As the final event in its year-long, 10-city dialogue tour on financial reporting issues, the Center for Audit Quality will stage its final town hall session July 22 at the National Press Club.

July 9
Audit

PwC Rolls Out IFRS Toolkit

In preparation for the eventual transition to International Financial Reporting Standards, Big Four firm PricewaterhouseCoopers has launched a suite of educational products and services to help accounting students learn IFRS fundamentals.

July 8
Audit

SEC Committee Suggests Reporting Improvements

The Securities and Exchange Commission’s Advisory Committee on Improvements to Financial Reporting released a draft of its final report.

July 8

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.