A new wave of technologies for information sharing and work collaboration dubbed Web 2.0 -- including blogs, wikis, news feeds, and social networks -- is gaining recognition from accounting professionals. Another Web 2.0 technology, cloud computing, is becoming increasingly popular for business enterprise use. While there is not yet a universally accepted definition for cloud computing, as a general term it refers to providing large-scale computing resources over the Internet. This article provides a brief introduction to cloud computing and its impact on the accounting profession. In order to provide assurance services that will potentially be needed by the burgeoning use of cloud computing, the profession will face fierce competition from the IT industry. The accounting profession will need more innovative thinking in the practices of assurance services to meet the ever-changing needs of companies utilizing information technology.