TRANSFORMATIVE CAPABILITIES OF THE ACCOUNTING PROFESSION: STUDY OF NORWEGIAN SMALL AND MEDIUM ACCOUNTING PRACTICES (TRANSACT)

TRANSACT project addresses how the small- and medium-sized accounting/auditing practices (SMPs) in Norway can develop transformative capabilities in order to adapt proactively to a rapidly changing society by servicing the community of SMEs with updated, relevant and timely information allowing a fair and sustainable business society. Evidence show that SMPs struggle to adopt innovations and new knowledge to improve accounting and auditing services. Addressing the transformative capabilities of the accounting and auditing SMPs is therefore important to ensure future survival and prosperity for our industry and society. This project is a close cooperation between Nord University Business School (HHN), its national, international academic partners and several national stakeholders. It aims at high quality cross-disciplinary academic research combining accounting, auditing, foresight, entrepreneurship and innovation disciplines in one research project. The project develops new methods for analyzing societal trends, identifying the dynamic and transformative capabilities needed for the profession and translating these into improved accounting/auditing practices and the design of relevant education programs. Anchored in the institutional strategy, the project strengthens HHNs competencies and improves our ability to deliver relevant and future-oriented high quality education programs in the field of accounting and auditing. The project contributes to: 1) improved education of future change agents in accounting and auditing, by introducing innovative education methods; 2) increased competitiveness of the accounting profession by providing actors with the necessary analytical tools for proactively shaping their future; 3) customers of the accounting profession in both the private and public sectors will be able to take better-informed decisions regarding their economic behavior, ensuring the future progress of our economy.

This TRANSACT project addresses how the small- and medium-sized accounting/auditing practices (SMPs) in Norway can develop transformative capabilities in order to adapt proactively to a rapidly changing society by servicing the community of SMEs with updated, relevant and timely information allowing a fair and sustainable business society. Evidence show that SMPs struggle to adopt innovations and new knowledge to improve accounting and auditing services. Addressing the transformative capabilities of the accounting and auditing SMPs is therefore important to ensure future survival and prosperity for our industry and society. This project is a close cooperation between Nord University Business School (HHN), its national, international academic partners and several national stakeholders. It aims at high quality cross-disciplinary academic research combining accounting, auditing, foresight, entrepreneurship and innovation disciplines in one research project. The project develops new methods for analyzing societal trends, identifying the dynamic and transformative capabilities needed for the profession and translating these into improved accounting/auditing practices and the design of relevant education programs. Anchored in the institutional strategy, the project strengthens HHNs competencies and improves our ability to deliver relevant and future-oriented high quality education programs in the field of accounting and auditing. The project will contribute to: 1) improved education of future change agents in accounting and auditing, by introducing innovative education methods; 2) increased competitiveness of the accounting profession by providing actors with the necessary analytical tools for proactively shaping their future; 3) customers of the accounting profession in both the private and public sectors will be able to take better-informed decisions regarding their economic behavior, ensuring the future progress of our economy.