Additional Structural Challenges Facing the Accounting Profession

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Additional Structural Challenges Facing the Accounting Profession

  • Redefining success in financial management

  • Need for a more continuous audit approach

  • The need to move beyond the "going concern" concept in audit reports

  • Expectation gaps - what an auditor does and does not do; who is responsible for what

  • Thinking about tomorrow and acting accordingly (stewardship)

  • Confusion over legal, professional, ethical and other standards - doing what's right