Accounting issues are financial events, transactions or records that carry potential legal implications. These include any matters that involve a breach of fiduciary duty, misrepresentation of facts, errors in the accounts, improper classification of transactions, or misappropriation of funds. It is important for business owners to have an understanding of these issues as they can result in costly penalties. Businesses need to make sure that their financial information is accurate and compliant with all applicable laws and regulations; this will help to protect them from future risk. By employing experienced accountants and having rigorous internal checks and balances in place, businesses can ensure they remain safe from potential accounting issues.