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

Senate Mulls SEC Confirmation Hearings

Senate lawmakers indicated they could hold confirmation hearings as early as next week for nominees to the Securities and Exchange Commission.

July 20
Regulatory actions and programs

AICPA Issues Audit Toolkit for Government

The American Institute of CPAs has produced a toolkit for government audit committees, the third in a series.

July 18
Accounting standards

Qwest's Former Finance Chief Admits Insider Trading

Qwest Communications International Inc.'s former finance chief, Robin Szeliga, pleaded guilty to insider trading last week.

July 17
Audit

Association of Government Accountants Gives Awards

According to the Association of Government Accountants, federal accountability and reporting is trending upwards.

July 17
Audit

Bally Total Fitness Requests More Time for Audit

Bally Total Fitness Holding Corp. said Wednesday that its new auditor, KPMG, will need more time to review the company's financial statements for 2002-2004.

July 14
Tax practice

IRS: Facsimile Signatures on Employment Tax Returns Okay

Corporate officers or authorized agents can now sign employment tax forms by facsimile, including alternative signature methods such as computer software programs or mechanical devices.

July 14
Regulatory actions and programs

FASB Issues Proposal on Uncertain Tax Positions

The Financial Accounting Standards Board published a draft of a proposed interpretation, "Accounting for Uncertain Tax Positions," yesterday. The draft seeks to reduce the diversity in practices associated with recognition and measurement in the accounting for income taxes.

July 14

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.