AddedRisk Factors
Technological developments may materially affect the cost and use of technology by our clients and, in the case of cloud, AI
The 10-K against last year's
123 changes: 9 added, 13 removed, 98 reworded, 3 quiet changes
10-K 0001467373-26-000049 (2026-10-16) vs 10-K 0001467373-25-000217 (2025-10-10) Not compared: Accounting Policies.
The redline
The paragraph that changed most in each section
Marked against last year's 10-K:
cut words struck through, new words highlighted and underlined.
Risk Factors 185 words changed in this paragraph; it is 60% similar to last year's version.
Source: Item 1A, 10-K 0001467373-26-000049 vs Item 1A, 10-K 0001467373-25-000217
MD&A 104 words changed in this paragraph; it is 35% similar to last year's version.
Accenture is a leading solutions business reinvention and global professional services company that helps enterprises reinvent by building their digital core technology company. Our people bring deep insights across industries and unleashing the power of AI to create value at speed across the enterprise, bringing together our people, functions, with capabilities spanning strategy, process, operating model, change management, talent, data, technology and AI. We deliver this expertise through consulting, managed services, proprietary assets and platforms, and deep ecosystem relationships. Through our Reinvention Services we bring together our capabilities across strategy, consulting, technology, operations, Song and Industry X with our deep industry expertise to create and deliver solutions and services for our clients. increasingly, software. We serve clients in three geographic markets: the Americas, EMEA (Europe, Middle East and Africa) and Asia Pacific.
Source: Item 7, 10-K 0001467373-26-000049 vs Item 7, 10-K 0001467373-25-000217
Every change, by type
Sentences and paragraphs added, removed or reworded
Sentences and paragraphs of ACN's Risk Factors and MD&A, 10-K 2026-10-16 against 10-K 2025-10-10. Each links to the text at sec.gov.
Quiet changes are sentences kept from last year with one to four words changed, at least one of them a hedge, a modal or a qualifier (may, could, will, not, significant, material…). A year or date rolling forward is not counted.
The full word list
adverse, adversely, all, although, anticipate, anticipates, any, approximately, believe, believes, can, cannot, certain, could, expect, expects, generally, however, if, intend, intends, largely, likely, many, material, materially, may, might, most, must, never, no, not, possible, primarily, probable, should, significant, significantly, some, substantial, substantially, unlikely, will, wouldAddedRisk Factors
Moreover, many of our contracts tie our compensation to agreed-upon performance standards, milestones or outcome-based measures such as cost savings, revenue enhancement or business goals. If we fail to satisfy these measures, or if we experience delivery difficulties, our contracts could yield lower profit margins than planned or be unprofitable.
AddedRisk Factors
Sovereignty initiatives, procurement preferences, local ownership or control requirements and other similar measures, together with changes in geopolitical relationships, trade restrictions or extraterritorial laws, may reduce our ability to standardize and scale solutions across markets or favor local providers or technologies. Complying with these requirements may increase our costs, delay or limit the solutions and services we can provide, fragment our technology and delivery architecture, reduce operational efficiency, impair our ability to serve clients consistently across jurisdictions, or result in the loss of existing or prospective business. If we are unable to anticipate, adapt to or comply with these developments at the pace and scale required, our competitive position, client relationships and results of operations could be adversely affected.
AddedRisk Factors
We are subject to, and may become a party to, a variety of litigation or other claims and suits that arise from time to time in the ordinary course of our business. Our business is subject to the risk of litigation involving current and former employees,
AddedRisk Factors
•Government investigations or proceedings related to our diversity, equity and inclusion programs have and may in the future result in financial penalties, sanctions, or restrictions on government contracting, which may adversely affect our results of operations.
AddedRisk Factors
U.S. companies that reincorporate or have reincorporated outside the United States. While Accenture was not a U.S. company that reincorporated outside the United States, it is possible that these contract bans and other legislative proposals could be applied in a way that negatively affects Accenture.
AddedRisk Factors
Our success depends, in part, on our ability to protect our proprietary assets, platforms, methodologies, processes, software, hardware and other solutions. We rely on confidentiality policies and procedures, nondisclosure and other contractual
RemovedRisk Factors
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RewordedRisk Factors
RewordedRisk Factors
Similarly, unauthorized access to unauthorized, or through, denial of of, access to, downtime or other incidents involving, our software and IT supply chain or software-as-a-service providers, our or our service providers’ information systems or those we develop for our clients, whether by our employees or third parties, including a cyberattack by computer programmers, hackers, members of organized crime and/or state-sponsored organizations, who continuously develop and deploy social engineering methods, phishing frameworks and viruses, ransomware, malware or other malicious software programs, has and could in the future result in similar negative publicity, significant remediation costs, legal liability, damage to our reputation and government sanctions and could have a material adverse effect on our results of operations—see consequences—see risk factor below entitled “Our business could be materially adversely affected if we incur legal liability.
RewordedRisk Factors
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Extended disruptions of electricity, other public utilities or network or cloud services at our facilities or in the areas where our people are working remotely, services, as well as physical infrastructure damage to, system failures at, to or failures, cyberattacks on, or security incidents involving, our facilities or systems, or those of our ecosystem partners, suppliers or clients, could also adversely affect our ability to conduct our business and serve our clients. clients which could have a material adverse effect on our results of operations and our reputation in the marketplace.
RewordedRisk Factors
These regulations may impose significant and differing requirements depending on how we design, build and deploy our role in developing, providing, deploying, implementing or using AI and handle non-personal data systems, for ourselves and our clients or clients, including requirements regarding the governance, design, development, testing, transparency, oversight and use of AI, and may limit our ability to incorporate certain AI capabilities into our offerings.
RewordedRisk Factors
In addition, from time to time, we have made, and may continue to make, changes to our operating model, including how we are organized, as the needs and size of our business change, and if we do not successfully implement the changes or operate effectively under any new operating model, including the Reinvention Services change effective September 1, 2025, our business and results of operation may be negatively impacted. change.
RewordedRisk Factors
The timing and amount cost of costs related to these business optimization actions and the nature and extent of benefits realized from such actions are subject to uncertainties and other factors, including local country consultation processes and regulations, uncertain and may differ from our current expectations and estimates. expectations.
RewordedRisk Factors
In these situations, we have engaged, and may in the future engage, in actions to rebalance our workforce, including reducing the rate of new hires and increasing involuntary terminations as a means to keep our supply of people and skills in balance with client demand, such as the three-pronged talent strategy initiated in the fourth quarter of fiscal 2025. terminations.
RewordedRisk Factors
If we lose our ability to continue using use any such software, hardware, data or intellectual property for any reason, of these assets, including because it is found to infringe the rights of others, we will need to obtain substitutes or seek alternative means of obtaining the technology necessary to continue to provide such solutions and services. technology.
RewordedRisk Factors
Cybersecurity threats are constantly expanding and evolving, evolving and becoming increasingly sophisticated and complex, including as a result of evolving AI technologies complex involving social engineering and threat actors’ increasingly mature infrastructure and systems capable of broadly deploying zero-day attacks. AI.
Quiet changesRisk Factors
At certain times and in certain geographical regions, we will may find it difficult to hire and retain a sufficient number of employees with the skills or backgrounds to meet current and/or future demand.
Quiet changesRisk Factors
Quiet changesRisk Factors
The technology companies described above, including many of our ecosystem partners and new AI-native companies, are increasingly able to offer services related to their AI, software, platform, cloud migration and other solutions, or are developing AI, software, platform, cloud migration and other solutions that may require integration services to a lesser extent or replace them in their entirety.
AddedMD&A
•EMEA operating income increased due to revenue growth in local currency and the positive impact of foreign currency exchange rates, which resulted in an increase in U.S. dollar revenues, partially offset by higher non-payroll costs.
AddedMD&A
•Asia Pacific operating income decreased as revenue growth was offset by higher non-payroll costs, including higher facilities and technology costs.
RemovedMD&A
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RewordedMD&A
We experienced local currency revenue growth that was very strong in Financial Services Communications, Media & Products, Technology, strong in Financial Services, solid in Products and modest in Resources and Health & Public Service and Communications, Media & Technology and solid in Resources. Service.
RewordedMD&A
Our consulting revenue continues to be driven by helping our clients accelerate their reinvention, reinvention and drive business outcomes, by redesigning processes and operating models, modernizing and implementing technology and data foundations, and leveraging cloud, software enterprise platforms, security, AI and data, including advanced AI, as well as our change capabilities to help clients build new skills and drive the successful adoption of new processes and technologies.
RewordedMD&A
Local Dollars Currency (in billions of U.S. dollars) 2026 2025 2024 Consulting $ 37.6 $37.0 2% 2% 40.9 $37.6 9% 6% Managed Services 43.7 43.0 44.2 (3) (3) 2 — Total New Bookings $ 80.6 $81.2 (1)% (1)% 84.5 $80.6 5% 3%
RewordedMD&A
While we continue to experience demand for these services, we are seeing a slower pace and level of client spending, particularly for large transformation programs, the discretionary spending environment continues to impact smaller contracts with a shorter duration.
RewordedMD&A
Fiscal 2024 2025 As Adjusted $ 11.95 12.93 Higher revenue and operating results 0.97 1.05 Lower share count 0.07 0.33 Lower non-operating income (0.10) Higher effective tax rate 0.01 Lower non-operating income (0.07) 2025 (0.24) 2026 As Adjusted $ 12.93 13.97
RewordedMD&A
RewordedMD&A
Our workforce, the majority of which serves our clients, increased was approximately 814,000 as of August 31, 2026, compared to approximately 779,000 as of August 31, 2025, compared to approximately 774,000 as of August 31, 2024. 2025.
RewordedMD&A
Utilization Workforce Voluntary Attrition 93% 814,000 13% compared to 92% 779,000+ 14% consistent with in fiscal 2024 2025 compared to approximately 774,000 779,000 as of August 31, 2024 2025 compared to 13% 14% in fiscal 2024 2025
RewordedMD&A
General and administrative costs for fiscal 2025 2026 increased $70 $468 million, or 2%, 11%, over fiscal 2024, 2025, and decreased increased as a percentage of revenues to 6.5% from 6.2% from 6.6% during this period primarily due to lower payroll higher non-payroll costs.
RewordedMD&A
RewordedMD&A
During fiscal 2025, 2026, Other income (expense), expense, net decreased $47 increased $31 million, or 43%, from 48%, over fiscal 2024, 2025, primarily due to higher lower gains on investments.
RewordedMD&A
Managed services revenue growth in local currency for fiscal 2025 2026 was driven by very strong growth in the Americas Asia Pacific and strong EMEA and solid growth in EMEA and Asia Pacific. the Americas.