Posted: 23 March 2015

"If it doesn’t challenge you, it doesn’t change you"

This is a sign that recently appeared on the wall of the gymnasium of which I’m a member. I first thought the manager was probably having a go at me because I’m slightly overweight. However, the more I thought about it, it’s obvious that the sign is a challenge to all the people who visit the gym. Then I thought about the accountancy profession. We’re indeed living in times that are continually challenging us.

Small business reduction - $500 million “red tape” reduction, announced by the Australian Taxation Office (ATO), targeted at accountants.
“Digital disruption” – which is expected to have a significant effect on at least six major industries over the next two years, with variations in activities of 24-43% forecast.
The tax return market is under continuous pressure. Tax returns are becoming more of a “commodity” product.
In survey after survey, small/medium enterprises have identified they want a wider range of services.

These are just some of the emerging challenges facing accountants in 2015. To navigate these challenges, accountants will have to change their traditional work and delivery models – just as accountants have been doing, virtually every decade, for the last 50 years.

Podcast 'Accountant's Minute'

Latest business advisory news for Accountants in under a minute.

Episode 018 If it doesn’t challenge you, it doesn’t change you

Podcast Link:

As their trusted advisor, can you assist your SME clients with business advisory services?

To download the free material click the link below:-

{snippet free-report}

Watch out for the next episode of "Accountant's Minute" or subscribe to the podcast on iTunes for more news, ideas and tips on providing outstanding non-compliance services to SME clients.