This article offers some thoughts about the position of accountancy in the current context, giving a general overview of its evolution as a discipline and its permanent transformation. An attempt is made to use several definitions of accountancy to highlight those elements which have determined it as being a discipline and its contents which must respond or become more involved in current economic reality, characterised by globalisation and international financial markets’ impact. Accountancy must become more flexible within this context, be able to respond quickly to changes in the economic setting and have the necessary qualities for objectively reporting to interested parties.