THE EVOLUTION OF FINANCIAL CONSULTING IN THE CONTEXT OF GLOBAL ECONOMIC CHALLENGES
Abstract
The article examines the evolution of financial consulting in the context of contemporary global economic challenges and transformations. It emphasizes that at the current stage financial consulting has moved beyond its historically narrow role limited to accounting support and tax optimization, and has developed into a complex system of services that encompass capital management, corporate finance, strategic and tax planning, integration of digital technologies, and compliance with sustainability principles and ESG orientation. The study outlines the key driving factors of this transformation, including rising financial instability in global markets, intensification of globalization processes, rapid digitalization of financial activities, and stricter regulatory requirements for corporate transparency. Special attention is paid to the growing role of consulting in promoting financial resilience, risk management, and adaptation of business models to the requirements of international financial monitoring systems. The paper highlights the increasing demand for digital solutions, big data analytics, and artificial intelligence tools that redefine consulting practices and expand their influence on decision-making in global business and international economic relations. The article also examines regional dimensions of market development, pointing to the institutional maturity of the consulting industry in North America and Europe, the dynamic expansion of Asia-Pacific as a technological hub, and the emerging consulting markets of transitional economies, including Ukraine, which face regulatory and institutional barriers but demonstrate significant growth potential. It is concluded that the future of financial consulting is directly linked to technological transformation, ESG integration, and deeper involvement in international mechanisms of financial governance. As a result, financial consulting is becoming not only an auxiliary business service but also a strategic factor of global economic stability, competitiveness, and sustainable development.
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