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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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 -
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 -
The Securities and Exchange Commission’s Advisory Committee on Improvements to Financial Reporting released a draft of its final report.
July 8 -
The Securities and Exchange Commission has charged Microtune and two of the Plano, Texas-based technology company's former senior officers with stock options backdating.
July 6 -
The Governmental Accounting Standards Board has issued a new standard aimed at improving how state and local governments report information about derivative instruments in their financial statements.
July 6 -
U.S. corporations and accountants concerned over rising audit costs due to Sarbanes-Oxley requirements may soon have more to worry about — including another spike in audit charges as a result of the Public Company Accounting Oversight Board’s proposed new standard for engagement quality review.The stricter standard, which was initially proposed back in February and would apply to audits of public companies performed under PCAOB standards, is risk-based and designed to ease identification and speed correction of audit deficiencies prior to issuing the auditor’s report.
July 6 -
The Public Company Accounting Oversight Board issued the latest inspection report of Big Four firm Deloitte & Touche, noting problems with nine audits performed by the firm last year.With two unidentified clients, the PCAOB said that Deloitte failed to identify a departure from generally accepted accounting principles that it should have addressed before issuing its audit report. In both cases, the clients incorrectly concluded that interest rate swaps qualified for hedge accounting using the short-cut method in Statement of Financial Accounting Standards No. 133.
July 6