Subject This article discusses the reasons for intense attack on the theory and practice of accounting, addressed by users of corporate reporting to the scientific and professional community of accountants and auditors. Objectives The article aims to check a proposed original hypothesis that one of the objective grounds for doubt in the scientific and institutional soundness of accounting is the neglect of its social nature, which causes a gap between the information needs of users of reporting and the quality of data produced by the accounting systems of market economy entities. Methods For the study, I used the methods of narrative, historical, genetic, and comparative analyses. Results The article forms and systematizes the factual evidence base of the significant influence of financial accounting data on behavioral and professional peculiarities of relations between the actors of the market economy information space. Conclusions The return of socio-humanitarian and behavioral components to the subject area of accounting and auditing is one of the most important directions of development of scientific research having a high potential for overcoming the causes of public distrust of corporate accountability, as well as stabilizing the modern economy information space.
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