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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Former SEC Chairmen Against SOX Exemptions

Speaking at a Council on Foreign Relations forum in New York a day after the advisory panel's decision, f our former chairmen of the SEC all argued against exempting any companies from the internal controls provisions, according to reports.

February 24
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Xerox Case Ends, KPMG Quartet Settles with SEC

After more than two years of legal maneuvering, the Securities and Exchange Commission settled the last of its charges in its investigation of Xerox Corp.'s alleged earnings manipulation.

February 23
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Stay Firm on SOX, Say Financial Heavyweights

A handful of boldface names from the financial world lent their signatures to a letter to federal regulators, asking that no public company be exempted from the internal controls provisions of the Sarbanes-Oxley Act.

February 22
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Protecting SOX in Its Infancy

More than three years after it's original passage, but still in the infancy of its implementation, the Sarbanes-Oxley Act is facing attacks on a number of fronts.

February 22
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SEC Files Charges Against Ahold Auditors

The Securities and Exchange Commission has announced it will charge two KPMG auditors for failing to act on a number of red flags that could have caught an estimated $30 billion accounting fraud sooner.

February 21
Accounting standards

IFAC Seeks Public Members for Standards Boards

The International Federation of Accountants is seeking nominations for a public member for the International Ethics Standards Board for Accountants and for the International Public Sector Accounting Standards Board, two independent standard-setting boards within the federation.

February 21
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SEC, PCAOB to Hold Roundtable on Internal Controls

The Securities and Exchange Commission and the Public Company Accounting Oversight Board will sponsor a roundtable on May 10 in Washington to discuss second-year experiences with the internal controls provisions of the Sarbanes-Oxley Act of 2002.

February 17

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.