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

Deloitte to Pay More than $50 Million in SEC Settlements

Deloitte & Touche LLP agreed to pay more than $50 million to settle charges brought against it by the Securities and Exchange Commission related to two of its former audit clients.

April 26
Audit

GAO Issues Guidance on CPE Requirements for Yellow Book Audits

The Government Accountability Office has issued extensive new guidance for auditors and audit organizations in implementing revised continuing professional education requirements for those conducting so-called "Yellow Book" audits.

April 25
Audit

Outback CFO Calls it Quits, Citing Negative Regulatory Environment

The chief financial officer of a popular steakhouse chain has called it quits, citing the negative regulatory environment, including what he referred to as "lunacy over lease accounting."

April 24
Audit

SEC Opens Informal Probe into BearingPoint Accounting

BearingPoint, the consultancy formerly tied to accounting firm KPMG, disclosed that the Securities and Exchange Commission has launched an informal probe into the company's accounting practices.

April 24
Audit

SEC Names Accounting Fellows

The Securities and Exchange Commission's Office of the Chief Accountant has selected two professional accounting fellows for two-year terms beginning in June 2005.

April 24
Audit

McDonough: SOX No Barrier for Small Firms

Despite dire predictions by critics of the Sarbanes-Oxley Act that the accounting reform law would freeze smaller CPA firms out of the audit business, just the opposite appears to be happening, Public Company Accounting Oversight Board Chairman William J. McDonough told Congress.

April 24
Accounting standards

EU, U.S. Agree on Plan to Eliminate Rule Requiring European Cos. to Follow GAAP

Officials from the Securities and Exchange Commission and the European Union Commission have reached an agreement on a "roadmap" toward equivalence between international and U.S. accounting rules.

April 24

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.