The “Sharing Economy” Presents Challenges and Opportunities for the Profession
by Alta Prinsloo, IFAC Chief Operating Officer and Paul Thompson, IFAC Director, Global Accountancy Profession Support | November 17, 2015
Over the past few years there’s been exponential growth in the sharing economy, characterized by collaborative consumption where we share space, cars, skills, whatever. Perhaps the most prominent example of this trend is the success of Airbnb and Uber, businesses that have leveraged technology to create virtual marketplaces matching supply and demand—for a room, a ride, a task, etc. These businesses have significantly disrupted the hotel and taxi industries and broken down traditional business models, and, in some cases, now accommodate and transport more people than their traditional equivalents.