You are a partner in a multinational accounting firm with headquarters in the UK and subsidiaries around the world. Your clients are multinational corporations and government organisations across the world. Your firm prides itself on keeping abreast of contemporary issues in accounting and taxation. Fortuitously, you have just completed a course your University titled “Contemporary Issues in Accounting and Taxation.” The subject matter addressed in this course has pointed to ways organisations can embrace new ideas to maximise returns, enhance operational practices and ethicality, and minimise negative impacts on society.
Prepare a detailed report, comprising a critical reflection of one current or emerging issue in Contemporary Issues in Accounting and Taxation, and reasons why your firm should advise its clients to take actions and which actions your firm should recommend to its clients to take to enhance its operational practices, ethicality and minimise negative impacts on society.
Your critical reflective report should comprise a coherent and critical appraisal of relevant academic, professional and regulatory literature on your chosen issue. In addition, you are required to demonstrate your critical analytical and reflective skills in your report.
The purpose of the reflective document is to critically consider the significance of the contemporary issues to your clients by highlighting the importance, the background of the current practices and policies, a criticism of the current state of play, the foreseeable practical implications to their operating activities, and the likely future changes that may emerge if the contemporary issues are addressed (not addressed) by your clients.