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

Broker Fines Up 21 Percent in '05

NASD, the regulator for the brokerage industry, said that fines as a result of disciplinary actions it meted out have risen 21 percent, to $125.4 million versus the prior year.

December 29
Regulatory actions and programs

SEC Subpoenas Delphi Execs

The Securities and Exchange Commission has subpoenaed more than a dozen current and former Delphi executives to testify about improper accounting at the bankrupt auto supplier, according to published reports.

December 29
Accounting standards

Regulators Threaten to Liquidate Refco Unit

Regulators are considering liquidating a unit of brokerage firm Refco Inc. that isn't under bankruptcy-court protection.

December 28
Audit

FAF Names Flynn to Board

Timothy P. Flynn, chairman and chief executive of Big Four firm KPMG, has been appointed to the board of the Financial Accounting Foundation.

December 27
Audit

West to Depart SEC

Lawrence A. West, associate director of the Securities and Exchange Commission's Division of Enforcement, will depart the regulator to become a partner at the Washington office of Latham & Watkins.

December 27
Regulatory actions and programs

IAASB Seeking Chair for 2007

The International Auditing and Assurance Standards Board, the standard-setting body of the International Federation of Accountants, is seeking a chairperson for a three-year term beginning in January 2007.

December 27
Accounting standards

Qwest's Former CEO Indicted

Joseph Nacchio, the former chief executive of Qwest Communications during the telecommunications company's multibillion-dollar accounting scandal, was indicted on 42 counts of insider trading for allegedly illegally selling more than $100 million in stock.

December 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.