ACCOUNTING RESEARCH VS PRACTICE GAP

  Possible strategies are explored in Bridging the Gap between Academic
Accounting Research and Professional
Practice, a new book commissioned by the IAAER and CAGS at the
University of South Australia.
Recommendations include:
• Developing a Stakeholder Agreement with the roles, responsibilities,
and interrelationship between
accounting academia, policy and practice clearly mapped out. This
model could go a long way to improving
accounting research quality and have an impact on society.
• Providing greater incentives for academics to engage more with
policy and practice. e.g. business school
leaders and faculty members should have Performance Indicators (PIs)
set in relation to industry engagement
and impact, as part of their accountability and professional development plans.
• Placing more academic staff into businesses, regulatory agencies and
professional services firms so they can
experience the ‘real world’ of accounting. This cross fertilisation
would be for extended periods domestically
and internationally, and provide an alternative form of outside study.
On the flipside, practitioners and policy
makers should also experience accounting research and teaching so
greater understanding is achieved from
all sides.
• Adapting academic research papers into professional publications so
they are more easily understood and
useful for practitioners and policy makers. Professional bodies could
take a proactive role by passing on
research findings to practitioners, and hosting regular roundtable discussions.

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CA Ramachandran Mahadevan,M.Com.,F.C.A.,