The problem is not with accountants or with accounting. A big part of the problem is the lack of a common language that would allow economists, politicians who care about incomes and management. This obstacle will not be overcome soon.
In the meantime, accountants can explain to their clients why they should focus on added value / personnel costs which is the economists' definition of productivity. Nothing correlates better with sustained, long-term profitability. Focussing on costs and income or margins separately misses the point to a large extent.
Auditors do have legal responsiblities in many EU countries. If Brexit occurs, expect an increased flow of dodgy European businesses to reincorporate in the UK and join the money launderers already in place.
My answers
The problem is not with accountants or with accounting. A big part of the problem is the lack of a common language that would allow economists, politicians who care about incomes and management. This obstacle will not be overcome soon.
In the meantime, accountants can explain to their clients why they should focus on added value / personnel costs which is the economists' definition of productivity. Nothing correlates better with sustained, long-term profitability. Focussing on costs and income or margins separately misses the point to a large extent.
Auditors do have legal responsiblities in many EU countries. If Brexit occurs, expect an increased flow of dodgy European businesses to reincorporate in the UK and join the money launderers already in place.