The Faculty has published its latest thought leadership report: Growth, development and accounting: seeing the bigger picture.
This report examines the role of accounting in promoting economic growth and development. We consider the ways in which it does so by contributing to: the quality of management decisions, the volume and quality of investment, and the ease and efficiency with which market transactions are conducted. Accounting also contributes to an effective tax system.
The importance of accounting in a modern economy while acknowledging that the world is constantly changing is emphasised, and some of the current and future challenges faced by the accounting profession in light of these changes, recognising the need for accounting to adapt and evolve if it is to retain its relevance is explored.
Printed copies of the report are available on request, and a digital version can be found here.
This report was produced by ICAEW.