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

Fannie Mae to Pay $400M to Settle Misadventures in Accounting

Fannie Mae will pay $400 million to put an end to the accounting woes that have dogged the home mortgage giant since 2004.

May 23
Audit

PCAOB Proposes Rules for Periodic Reporting

The Public Company Accounting Oversight Board will propose rules for annual and special reporting of information and events by accounting firms that are registered with the board.

May 23
Audit

More Companies Sign on for SEC's XBRL Project

Four months after offering new incentives for companies to furnish their financial information in computer-readable interactive data format, the Securities and Exchange Commission announced that another trio of firms has joined the fun.

May 23
Accounting standards

IFAC Issues 2005 Annual Report

The International Federation of Accountants has issued its 2005 annual report, highlighting the update of its code of ethics, as well as the formal establishment of the Public Interest Oversight Board.

May 23
Audit

Bush Taps Casey as Glassman's Successor at SEC

President Bush has nominated Republican Kathleen Casey, currently serving as staff director for the Senate Banking Committee, to replace Cynthia Glassman at the Securities and Exchange Commission.

May 21
Audit

Nicolaisen: 'We Need to Get This Right'

The former chief accountant of the Securities and Exchange Commission said that the accounting profession must stand strong in advocating for more transparent financial disclosure and serve as a model for the rest of the world

May 21
Regulatory actions and programs

IASB Chief Accepts Another Gig

Less than six months into the job, t he International Accounting Standards Board chairman has stepped down to take the position of Italian finance minister.

May 21

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.