Today, in addition to the executive function, accounting also has an advisory role in business organizations. Changes in the business environment of the company require raising the level of competence and responsibility on the part of accountants. Professional accountants cover a wide range of operations from commodity and financial accounting, tax and financial advisory. The accounting profession strives to ensure the shortest possible path of transformation of business practices and processes, without giving up the basic accounting principles. The aim of this paper is to present the influence of environmental factors, from the economic, legal, political, cultural and professional aspects, i.e. whether they are a „tailwind“ or a „pain point“ of the accounting profession in Bosnia and Herzegovina.. Regardless of the upcoming changes and challenges, this paper advocates the hypothesis that the accounting profession still has the greatest integrity in providing relevant information, which is crucial in making quality business decisions in the private and public sector.

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