Accounting and Auditing Small and Medium-Sized Practices

This book addresses the recent trends, developments and future of accounting and auditing of small and medium-sized practices (AASMPs) in the public and private sectors.

The book has three main objectives. Firstly, to provide an analysis of how different societal trends, including digitalization, impact AASMPs and what role education and training play in proactive adaptation to those trends; secondly, to outline major scenarios for global AASMPs development by 2035; and thirdly, to offer a conceptual framework for better understanding of AASMPs dynamic and transformative capabilities that are necessary to create sustained competitive advantage in a rapidly changing society. Beyond presenting a conceptual framework, the book also offers a discussion of future scenarios for AASMPs development and their role in the global economic development. The book is unique, as it disseminates the findings of a large research project carried out by both academics and practitioners from the accounting and auditing industry. Readers of this book will be better equipped to understand the development trends in the accounting and auditing industry, the impact those trends create for AASPMs and the way different actors can work proactively to maximize AASPMs chances for success amidst rapid technological and regulatory change.

The book is aimed primarily at accounting and auditing academics, however, it will also be of benefit to managers of accounting and auditing firms, leaders of professional associations, as well as professional bodies that regulate accounting and auditing practices, setting the foundations for future research endeavors on this topic.