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

Canada Accounting Board Finds Room for Improvement

The Canadian Public Accountability Board released a second report on its inspections of accounting firms, finding that accounting firms need to enhance existing auditing practices.

August 22
Audit

Another Reinsurance Firm Under SEC Scrutiny

Reinsurer MBIA Inc. recently said that it had received a Wells notice from the Securities and Exchange Commission that it may face civil charges over past reinsurance transactions.

August 22
Audit

AICPA gets ready to expose drafts on audit standards

The American Institute of CPAs has finalized several documents that should improve the auditing of private companies and the development of nonaudit reports and compilations.

August 21
Audit

Some analysts grumbling over GAAP; some aren't

The preparers of financial statements have long been grumbling about accounting standards, which they say are needlessly complex and painfully burdensome. The users of financial statements, on the other hand, have generally advocated detail and transparency.

August 21
Regulatory actions and programs

Civil Case against Scrushy to Continue

A federal judge will allow the Securities and Exchange Commission to refile their lawsuit against HealthSouth Corp. founder Richard Scrushy.

August 21
Accounting standards

IASB Issues Financial Instruments Standard

The International Accounting Standards Board has issued a new international financial reporting standard titled, "Financial Instruments: Disclosures," as well as an amendment to its "Presentation of Financial Statements" discussing capital disclosures.

August 21
Regulatory actions and programs

PCAOB adopts tough rules for tax services

The Public Company Accounting Oversight Board adopted new ethics and independence rules for auditors that place clear limits on the ability of accounting firms to offer tax services to their audit clients.

August 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.