In the last 10 years, social media has been restructuring business policies and practices creating new business models. These models are shaping the internal and external aspects of businesses, improving efficiency, and hopefully yielding higher profits while reducing costs. At the same time, social media is being implemented in such internal operations as employee training, recruiting, communication within organizations, and building business loyalty. Businesses are becoming more dependent on social media, making social media an inevitable expectation of effective business models. The millennial are the new generation of adults who are taking over the business world. This generation of young adults grew up using such social media networks as Facebook, Twitter, YouTube, Google +, and LinkedIn. To sustain good relationship with their clients (millennial), businesses must meet people's expectation of the practices and plan their policies accordingly. This paper will examine how the use of social media by businesses is leading to a new service being offered by accounting firms, social media consulting. Experts in internal controls, accounting firms, will have the resources and capacity to offer services in social media consulting. The large accounting firms such as Deloitte, KPMG, Ernst &Young, and PWC have already entered social media consulting market.
Abdullah, Yunus, "Yunus Abdullah - Use of Social Media by Businesses: A New opportunity For Consulting Services by Accounting Firms" (2013). Ronald E. McNair Scholars Program 2013. 8.