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.

Accounting standards

AICPA Issues Guidance on Professional Requirements

The American Institute of CPAs has issued guidance defining terms for describing the professional requirements of accountants who perform a compilation or review.

January 2
Tax practice

IRS Beefs up Conduct Standards for Tax Preparers

The Internal Revenue Service and the Treasury Department have implemented enhanced standards of conduct for tax preparers.

January 2
Audit

New Audit Standards Proposed for Service Organizations

The International Auditing and Assurance Standards Board has proposed two new standards focusing on enhancing auditors’ consideration of controls at service organizations, along with a third standard that addresses the communication of deficiencies in internal control to those charged with governance.

January 2
Audit

IRS Proposes Pension Regulations

The Internal Revenue Service and the Treasury Department have proposed two sets of regulations relating to pension plans.

December 31
Regulatory actions and programs

SEC Issues Final Rules on IFRS Reconciliation

The Securities and Exchange Commission has issued a final rule on accepting financial statements prepared by foreign companies in accordance with International Financial Reporting Standards without reconciling them with U.S. generally accepted accounting principles.

December 28
Audit

SEC Provides Executive Pay Comparisons

The Securities and Exchange Commission introduced an online tool that allows investors to compare executive pay at 500 of the largest American companies.

December 26
Accounting standards

Justice Department Probes Diebold Accounting

ATM and voting machine maker Diebold said that the Justice Department, in addition to the Securities and Exchange Commission’s Office of the Chief Accountant, has been investigating its accounting practices.

December 26

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.