Industry News
Everything you need to grow yourself and your firm in the public accounting sector.
LATEST ARTICLES
How Offshoring has evolved for Accounting Firms
Leveraging Global Talent for Success The accounting industry is undergoing a significant transformation, driven by technological advancements, changing client expectations, and a growing talent gap. One of the most effective strategies accounting firms are adopting to...
Gearing up to offer Equity Financing Services
Insolvency levels are rising, as is uncertainty in a wide range of businesses right across Australia. There are many reasons for this including high interest rates, high inflation, a tougher stance from the ATO and cash flow difficulties because of the level of...
Would You Want to Be a Client of Your Own Firm?
In an increasingly digital world, the way firms deliver services and documents to their clients is crucial. While many firms have embraced email for its convenience, some have not thoroughly considered the implications of sending sensitive ATO documents as...
Overcoming the Challenges Faced by New Accounting Graduates
Entering the world of public practice accounting as a new graduate is both exciting and daunting. While universities provide a solid theoretical foundation, many graduates find themselves unprepared for the practical demands and fast-paced environment of public...
Why Sending Emails to Your Clients Natively via Office 365 is Superior to Using Third-Party Products
In today's digital world, email communication is crucial for client interactions. The method you choose for sending emails greatly influences the effectiveness and professionalism of your communication. You can send emails programmatically in two main ways: using the...
Unlocking Equity Funding for Business Owners: A Path to Growth
In today’s competitive business landscape, securing the right funding is critical for growth and sustainability. Equity financing offers a powerful solution for business owners looking to expand without the immediate burden of debt repayment. A new eLearning course on...
Nominations for the 2024 Women in Accounting are now open!
Nominations are now open for the Top 50 Women in Accounting for 2024, presented by @ignitionapp. This year, the #WomenInAccounting awards are calling for nominations of inspiring women who serve as catalysts of change within the accounting and bookkeeping industry,...
How Accounting Practices Can Thrive Without Enough Qualified Job Applicants
The accounting industry faces a persistent challenge: the scarcity of qualified job applicants. As accounting practices strive to maintain efficiency and growth, finding ways to thrive despite this shortage is crucial. This article explores innovative strategies that...
Tackling the Auditor Shortage: Strategies for Future Sustainability
Australia’s auditing profession is currently facing a critical shortage, as highlighted in a recent report by Chartered Accountants Australia and New Zealand (CAANZ). Despite significant investments in recruiting and training auditors, the skills shortage remains...
Why Checking Client’s ATO Documents Matters More Than Your Morning Coffee
The Importance of Checking Your Client's ATO Documents As a trusted advisor, ensuring the accuracy and completeness of your client's financial records is paramount. One crucial aspect of this responsibility is diligently checking your client's documents issued by the...
How outsourcing can help you meet your SMSF compliance requirements
The before and after of new regulations is stark: accountants previously used to lodging on a yearly basis now need to lodge once per quarter in order to maintain SMSF compliance. For some firms it’s been a struggle to learn to balance workloads as they move to...
Turning Losses into Profits: How Dothenumbers Helps Business Owners Thrive
The idea of Dothenumbers is to help your client improve their profit. There are all sorts of feel good items to discuss with a client but it all comes down to profit. If there is a decent profit in the business the business owner can pay themselves a commercial wage,...
The role of technology in building robust financial controls
Financial controls, also known as internal controls, are vital policies and procedures put in place to keep financial records in check and protect company assets. But most businesses don’t have strong controls set up, according to our recent research. Recent research...
Say Goodbye to Limits: The Age of True Cloud Web Applications
As we step into the new financial year, it's the perfect time to rethink how you manage your ATO documents. Traditional methods are often time-consuming, costly, and fraught with risks. Enter ATO SmartDocs—a true cloud web application that transforms your document...
What are the Hidden Costs of not Outsourcing your Accounting Firm’s needs?
Adaptability is a key quality in the world of accounting - efficiency, accuracy, and cost-effectiveness are primary contributors for success. Many firms are turning to outsourcing as a strategic move to enhance their operations and stay competitive. For firms that are...
How does effective client communication propel your accounting business forward?
How does effective client communication propel your accounting business forward? Effective client communication is critical for the success and growth of any accounting firm in a competitive business environment. Strong communication practices not only foster trust...
How an accounting firm beat ATO deadlines with the right outsourcing partner
A Sydney-based advisory accounting firm was struggling to find staff amidst the skills shortage. The firm had engaged with multiple other outsourcing providers, but was unhappy with the quality of work that had been returned. The firm then turned to SuperRecords in...
How can You Effectively Manage Interruptions to Get Things Done During the Day?
In today’s episode of ‘From the eLearning Trenches,’ we asked one of our learners, a partner in public practice, to consider what they could to reduce interruptions during their workday. Consider email and phone communication, meetings, office conversations, urgent...
Trends in Remote Auditing: Enhancing Production and Client Relationships
The COVID-19 pandemic has reshaped how businesses operate, and auditing is no different. Remote auditing, initially a necessity during the pandemic, has now become a standard practice. This shift is transforming production processes and client relationships,...
How Does Your Firm Deliver Virtual CFO Services? What Could be Improved Now?
In today’s episode of ‘From the eLearning Trenches,’ we asked one of our learners, a partner in public practice, to review the core virtual CFO services that their firm currently provides. What software platforms and people are used to deliver these services. What...
PRACTICE MANAGEMENT
How does effective client communication propel your accounting business forward?
How does effective client communication propel your accounting business forward? Effective client communication is critical for the success and growth of any accounting firm in a competitive business environment. Strong communication practices not only foster trust...
How can You Effectively Manage Interruptions to Get Things Done During the Day?
In today’s episode of ‘From the eLearning Trenches,’ we asked one of our learners, a partner in...
How Does Your Firm Deliver Virtual CFO Services? What Could be Improved Now?
In today’s episode of ‘From the eLearning Trenches,’ we asked one of our learners, a partner in...
How can You Move Client Conversations from Financial Reporting to Strategic Planning?
In today’s episode of ‘From the eLearning Trenches,’ we asked one of our learners, a partner in...
TECHNOLOGY
ATO’s Privacy Breach: $557 million filed in false claims
No company is safe – not even the ATO! Cybercriminals have filed over $550 million in false claims over the past two years, finding a glitch in the ATO’s digital identity system. Bogus myGov accounts were created by the hackers linking them to real taxpayers’ ATO...
Is your firm at risk of a data breach?
Discover what you can do right now to protect your firm from a data breach In recent times,...
What you need to know: The Federal Budget’s focus on Cyber Security
On Tuesday evening, 9 May 2023, and after more than a decade, the federal Labor government...
Tough Reforms Coming To Australia’s Privacy Act: Business Owners Be Prepared
There’s no ignoring the media’s latest coverage of the calculated cyberattacks targeting Optus,...
FINANCIAL SERVICES
Gearing up to offer Equity Financing Services
Insolvency levels are rising, as is uncertainty in a wide range of businesses right across Australia. There are many reasons for this including high interest rates, high inflation, a tougher stance from the ATO and cash flow difficulties because of the level of...
Integrity on the Line: The Impact of ASIC’s Scrutiny on SMSF Auditors
The future of SMSF auditors in Australia seems to be at a crossroads, with recent actions by ASIC...
Audit Shield claims activity across Australia
1 July to 31 December 2023 The intricacies of the Australian Taxation Office (ATO) and other...
How outsourcing led to a 30% boost in growth for this financial services provider
How outsourcing led to a 30% boost in growth for this financial services provider Located in NSW,...
