The key characteristics of the XYZ are broad, global, and unregulated. The third is not under the control of XYZ s creators. Nothing precludes regulation of the XYZ by any jurisdiction in the future. To the extent that such regulation occurs, some of the XYZ s hoped-for advantages may not materialize. Professions have historically been based on mastery of a body of specialized knowledge.
Professionals possess knowledge that many nonprofessionals lack.
One of the problems of the accounting profession is that this definition has become less and less accurate. Accounting expertise has spread beyond the bounds of the CPA firm. Increasing amounts of this body of knowledge can be processed by technology. Thus, accounting has increasingly become a skill profession rather than a knowledge profession. The new XYZ carries this trend further.