Accounting and Auditing Small and Medium-Sized Practices: Transformative Capabilities in a Rapidly Changing Society(Routledge Studies in Accounting)

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 AASMP 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, this book also offers a discussion of future scenarios for AASMPs' development and their role in the global economic development. This 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 AASMPs, and the way different actors can work proactively to maximize AASMPs' chances for success amidst rapid technological and regulatory change. This 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, and professional bodies that regulate accounting and auditing practices, setting the foundations for future research endeavors on this topic. The Open Access version of this book, available at www.taylorfrancis.com, has been made available under a Creative Commons Attribution-Non Commercial-No Derivatives (CC-BY-NC-ND) 4.0 International license.

Table of Contents:
Part I: Introduction to the volume 0. Introduction 1. Future scenarios for the development of Norwegian accounting and auditing small and medium-sized practices by 2035 Part II: Impact of digitalization on accounting and auditing SMPs 2. Digitalisation and its impact on small- and medium-sized accounting and auditing practices: insights from public and private sectors 3. Dealing with digital transformation: tensions of professionals working at small- and medium-sized accounting firms 4. Towards digital transformation of local government auditing: leveraging digital affordances 5. Internal organisational arrangements and engagements with environment in small and medium-sized accounting practices 6. Perceived risks and preparedness to deal with “black swans”: A mismatch between competence and perceived knowledge about potential risks 7. (Absence of) use of management control systems to manage cyber risk in SMEs Part III: Education, training, competences and skills 8. Masters’ supervision and academic growth of accounting and auditing students in Norway – from understanding to creativity 9. Accounting firms as business advisors: SME’s expectations and accounting firms’ capabilities 10. IIntentions of Bachelor students to study accounting and auditing at the master level 11. Neither detecting nor preventing: analysis of the auditors’ role in the outcome of financial crime cases in Norway and Sweden 12. The effect of the new ISA 315 on perceived audit quality in SMPs – does it support or undermine auditors as knowledge workers? Part IV Integrating chapter 13. Understanding proactivity and strategic duality of small and medium-sized accounting and auditing practices – a summary

About the Author :
Dr Anatoli Bourmistrov is a Professor Accounting/Management Control at Nord University Business School, Norway. Dr Levi Gårseth-Nesbakk is a Professor of Accounting at Nord University Business School, Norway. Dr Toomas Haldma was a Professor of Accounting at Tartu University, Estonia. Dr Jan Mouritsen is a Professor of Management Control in the Department of Operations Management, Copenhagen Business School, Denmark. Dr Roman Vakulchuk is the Head of Climate and Energy Research Group and a Senior Researcher at the Norwegian Institute of International Affairs (NUPI), Oslo, Norway.