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

Ex-Computer Associates Execs Plead Not Guilty

On the heels of a pair of settlements to resolve the company's $2.2 billion accounting scandal, two former top executives of software maker Computer Associates International Inc. pleaded not guilty to criminal charges.

September 26
Audit

New Mexico Board Disciplines E&Y Over PeopleSoft Audits

The New Mexico Public Accountancy Board has joined the Securities and Exchange Commission and the California Board of Accountancy in disciplining Ernst & Young over the firm's audits of former client PeopleSoft.

September 26
Audit

IFAC Study Issues Convergence Recommendations

A study commissioned by the board of the International Federation of Accountants has issued a series of recommendations to the financial reporting "supply chain" in order to achieve convergence on global accounting and auditing standards.

September 23
Accounting standards

Former CA CEO Indicted as Co. Reaches Deal With DOJ, SEC

Sanjay Kumar, the former chief executive of Computer Associates International Inc., was indicted on charges of securities fraud, conspiracy and obstruction of justice just as the company announced that it had reached agreements with the Department of Justice and the Securities and Exchange Commission in connection with an accounting scandal that caused it to restate $2.2 billion in revenue.

September 22
Audit

Fannie Discloses Accounting Issues, SEC Probe

Troubled mortgage giant Fannie Mae said this week that a report on its accounting policies and practices uncovered serious issues that raised doubts about the validity of its previous financial results.

September 22
Audit

Calif. Board Sanctions Ernst & Young

The California Board of Accountancy has sanctioned Ernst & Young over the firm's independence in its audit of former client PeopleSoft.

September 22
Accounting standards

Vanity Numbers Have Drawbacks

The number 1-800-TAXHELP may look good on a business card, but the concept of vanity telephone numbers has serious drawbacks for professional services firms, according to one consultant.Writing in The Urbach Letter e-newsletter, consultant Victor Urbach said that vanity numbers "have their place, particularly in radio advertising. But I believe their value is overrated." He adds that some studies have shown that full-alpha[betical] 800 vanity numbers actually reduce response rates. "They claim it's because people think they'll remember the number, and thus put off calling until later," he says. "In marketing, later often means never."

September 22

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.