The biggest issues in accounting
- Aurel Ghidoveanu
- Mar 22, 2023
- 1 min read
Updated: Apr 7, 2023
Top 100 most influential people in accounting
When asked, "What is the most important issue currently facing the accounting profession?" the top 100 most influential people in accounting have a lot in common.
However the most common concerns are related to:
-how to attract new people to the profession,
-retain them,
-entice them to become CPAs (Certified Public Accountants), and, most critically, whether to enter the profession at all.
Based on the article below* here are the:
Top 20 biggest issues in accounting:
20 of the 100 most influential people in accounting consider that the most pressing issues are the following:
The talent drain
Burnout, mental health, and the ability to hire new people are intertwined.
The profession is losing relevance.
Digital transformation, which should be perceived as business transformation,
Decreasing number of people interested in becoming CPAs (certified public accountants).
Diversity: Focusing on diversity will help solve the issue of people joining the profession
We need to include team building, leadership, and emotional intelligence in the curriculum.
Accounting need to change or become obsolete (by embracing advanced technologies and the digital landscape).
There is a fundamental disconnect between the business model and the lifestyle and culture of accountants
The evolution of practice and services through technological advancement
Modernizing the accounting profession
How to disclose material non-financial information (such as ESG data on climate change and human capital management)
Embracing diversity, providing equitable workplaces, and practicing inclusion
The audit profession is under-appreciated, or perhaps misunderstood.
Mindset. We recognize that change is happening at an exponential rate, but organizations are still focusing on the safe center — their core — and not truly investing in the edge.
Tax administration system that supports taxpayers in meeting their tax obligations.
Its antiquated business model of selling time
Cybersecurity remains paramount.
Have an eye on innovation and adapting their technology to the next level.
Remaining relevant to our clients and providing the kind of timely, meaningful insights that help them achieve their business and personal goals
The list of the 100 most influential people in accounting is based on US professionals.
It includes thought leaders, change-makers, regulators, and other leaders who are shaping the profession and the issues that they face as they chart the future of accounting.
While USA may seem remote and insular when it comes to accounting, I believe these issues are still relevant.
These are accurate statements that applies to all, irrespective of location or legislation.
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*Source:
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