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

Stun Gun Makers Swaps Auditors

Three months after restating its 2004 earnings, stun gun manufacturer Taser International Inc. said it had fired its accounting firm.

September 19
Accounting standards

Ad Group Interpublic to Restate Profits

Interpublic Group of Companies Inc., which includes several of the world's largest advertising agencies, said in a filing with the Securities and Exchange Commission that it will correct four years of earnings spanning 2000 to 2004.

September 18
Audit

Merrill Lynch Analysts to Include Option Expenses

Merrill Lynch & Co. Inc. announced a new options expensing policy for all U.S. equity research analysts that will be implemented as of the first reporting date after Sept. 30.

September 14
Audit

IFAC Requests Proposals for Auditing Guide

The International Federation of Accountants is seeking input for the development of a how-to guide on implementing International Standards on Auditing for small and midsized businesses.

September 14
Audit

FEI Committees Make 'Uncertain Tax' Suggestions

Two technical committees from Financial Executives International have sent a letter making suggestions to the Financial Accounting Standards Board's proposed interpretation, "Accounting for Uncertain Tax Positions."

September 14
Audit

Another SOX Reprieve Expected for Small Firms

The Securities and Exchange Commission is expected to give small public companies another extension to comply with the internal control rule outlined in the Sarbanes-Oxley Act, according to published reports.

September 13
Accounting standards

Krispy Kreme Delays Another Filing

Krispy Kreme Doughnuts Inc. will delay the earnings report for its most recent fiscal quarter while continuing to evaluate its accounting practices, the company announced in a filing with the Securities and Exchange Commission.

September 13

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.