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.

Audit

SEC Wants Input on Auditor Independence Rules

The Securities and Exchange Commission is seeking public comment on the Public Company Accounting Oversight Board's proposed ethics and auditor independence rules concerning independence, tax services and contingent fees.

March 14
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Chamber Says SEC Taking Its Job Too Far

The U.S. Chamber of Commerce said that the Securities and Exchange Commission is overstepping its bounds in seeking to punish corporate wrongdoing.

March 13
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SEC Announces Roundtables on Financial Data, Internet

The Securities and Exchange Commission announced a series of roundtables that will be held throughout the year, with a focus on speeding the implementation of new Internet tools to help provide investors and analysts with better financial information about companies and funds.

March 13
Regulatory actions and programs

SEC Internet Enforcement Chief to Talk Fraud

Online fraud and the use of the Internet to perpetrate insider trading, market manipulations and other securities violations will be the focus of the Securities and Exchange Commission Historical Society's first "Fireside Chat" for 2006.

March 9
Audit

Tax Errors Will Cost Kroger

Kroger Co., the largest supermarket company in the country, will restate its earnings for the past three years for errors in accounting of deferred taxes.

March 7
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SEC Small Public Company Report Online

The Securities and Exchange Commission Advisory Committee on Smaller Public Companies has published an exposure draft of its final report, outlining changes to the Sarbanes-Oxley Act for micro-cap and small-cap public companies.

March 7
Regulatory actions and programs

SEC Will Develop Policy on Subpoenas

After halting subpoenas issued to two Dow Jones & Co. columnists on Feb. 7, the Securities and Exchange Commission announced that its staff is preparing guidelines for demanding information from journalists.

March 6

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.