In order to tap opportunities and at the same time minimize risks, successful companies around the world have diversified their product portfolio. Today, many companies have emerged as successful conglomerates producing diverse products and providing varied services locally as well as internationally. In such companies, the accountant’s role has also undergone significant changes. Accountants are increasingly recognized as internal consultants by experts. In this context, discuss how accountants can act as internal consultants in these companies. What kind of background and knowledge would an accountant require to be an effective internal consultant?