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.

Regulatory actions and programs

Ward Named IFAC President; Calls For Strong Standards, Support for Developing Nations

The Council of the International Federation of Accountants, a group that sets international standards on ethics, auditing and assurance, education, and public sector accounting, has named PricewaterhouseCoopers partner Graham Ward, CBE, MA, FCA, as its new president for a two-year term.

November 15
Audit

SEC Proposes Governance Changes for Exchanges

The Securities and Exchange Commission voted this week to open to public comment proposed new rules related to the governance, transparency, oversight and ownership of the stock exchanges.

November 11
Audit

NASD Charges Block Financial Advisors with Fraud

The National Association of Securities Dealers charged H&R Block Financial Advisors Inc., the investment arm of the tax prep giant, with fraud in the sale of $16 million worth of Enron Corp. bonds after the energy firm's finances and bond ratings had begun to collapse.

November 10
Regulatory actions and programs

Former CA Execs Settle with SEC

Two former Computer Associates executives settled Securities and Exchange Commission charges that they participated in a widespread practice that resulted in the software maker's improper recognition of revenue.

November 5
Audit

SEC Postpones Oversight on Bank Brokerage Services

Citing objections from banking regulators including the Federal Reserve, the Securities and Exchange Commission said it would delay a plan to oversee brokerage services offered by banks until March 31, 2005.

November 5
Associations

AICPA Adopts New Ethics Requirements for Members Who Outsource

The American Institute of CPAs has adopted ethics rules that place new requirements on members who outsource clients' work to third-party providers and broaden the definition of those providers.

November 5
Regulatory actions and programs

Time Warner to Restate AOL Accounting, Sets Aside $500M for Gov't Probes

Media and entertainment giant Time Warner Inc. said that it had established $500 million in legal reserves related to pending government investigations, and that it intends to restate its accounting for its interests in AOL Europe prior to 2002.

November 5

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.