Accounting and Audit of Agriculture Enterprises in the USA

Introduction. The USA accounting and audit industry is a complex and influential sector encompassing institutional structures. The Big Four, regional (local) firms, and independent auditors are the most common among them. In turn, the Securities and Exchange Commission (SEC) ensures that professional standards and financial reporting are met through its rigorous oversight. The demand in the industry springs from business expansion, economic prosperity, and the implementation of certain regulatory norms and standards for unsettled debts. The problem is the investigation of the peculiarities of the accounting and audit industry in the United States, size, regulatory framework, dominance of the Big Four firms, and ever-increasing technology use in the field. Aim and tasks. This study examines the peculiarities of accounting and auditing in the USA in the context of agribusiness development. Results. An analysis of leading audit firms (Deloitte, PwC, EY and KPMG) showed an average increase of 40% in income over the period 2018-2023. Accounting and auditing in the USA remains the leading sector among developed countries, showing the highest projected turnover growth due to strong B2B demand, rising labour costs (71.2% of total industry expenses) and increasing industry profitability (27.5%). However, despite the growth in the overall number of companies, the industry remains fragmented, with the top five companies accounting for 17.2% of production value in 2023. Technology is still developing, and new laws are being set every so often in the accounting and auditing industry. A comprehensive set of approaches is required to characterise agribusiness in the United States. Conclusions. The analysis of the Financial Accounting Standards Board (FASB), which has the authority to supervise and regulate accounting, revealed the audit standards that the FASB conducts for review and takes action against firms that violate the standards and rules of ethics. The most important aspect of the supply of professional auditors is meeting the demand for credible audits in the market.