What are the ‘most influential people in accounting’ saying about the ‘most important issues currently facing the accounting profession’?

Abstract

Drawing on theories of influence derived from social psychology, this article studies Accounting Today’s 2023 list of The Top 100 Most Influential People in Accounting (‘the List’). For many reasons the List is controversial, but it is also a window into the profession, providing readers insights into where key players think it is, where it is going, and what it aspires to be. This article analyzes what those on the List consider to be the most important issues currently facing the accounting profession, and what they think the solutions are. A number of core themes emerge as salient, namely: (a) the pipeline problem, (b) the adoption and application of new technologies, (c) the struggle for relevance of (some) accounting work, and (d) the accounting workplace and human capital management. The solutions presented include: (i) accounting needs better branding and marketing, (ii) need to adopt and use new technologies in a range of creative, thoughtful, and compassionate ways, (iii) accounting workplaces and work conditions need to be improved, not least compensation for new entrants. Ultimately, this article’s core thesis is that the key challenges (opportunities) are fundamentally inter-related and inter-connected. Thus, a strategy which involves one group sitting back and hoping that another will fix a stand-alone issue while they watch on is a strategy that seems destined to fail and will cost us dearly. As such, holistic, ‘big tent’, consensus-garnering solutions are required.