Do we (sufficiently) integrate practice into theory?

Fairly recently, Shiva Rajgopal (Columbia Business School) argued that academic research in accounting has strayed from producing work that is useful to either practitioners or policy makers (Rajgopal, 2021). Rajgopal uses three criteria to arrive at that assessment: (1) the number of products and processes that accounting research has produced in the last 50 years, (2) the overlap between issues that Chief Financial Officers (CFOs) and Chief Executive Officers (CEOs) worry about and our published research, and (3) whether science or knowhow in academia in a particular area is ahead of that in practice. In addition, Rajgopal (2021) suggests several potentials reasons for the (perceived?) problem, and makes several suggestions on how to improve on the current situation.