The future of accounting and financial reporting, part IV: "Access" accounting

A commentary examines the potential impact of changes in information technology on the future of accounting and financial reporting. The commentary divides accounting into 2 primary functions: compiling and attestation. It is argued that information technology will assume an enhanced role with respect to the former function, namely tracking and categorizing information, aggregating information and conceptualizing data into asset, liability and equity components. It is suggested that advancements in technology will increasingly offer users the ability to manage large amounts of disaggregated data.