After years of talking to Accounting firm business owners, we’re starting to see a trend. Older accounting firm owners are starting to be pushed out of their firms, or just closing shop. And it’s not just us noticing the trends: ‘The doomsayers are wrong’: Accounting industry younger and thriving ATO Assistant Commissioner Colin Walker has revealed new demographics for the …
How to conduct a Post-Implementation Review
When it comes to the management and monitoring stage in the outsourcing, you should conduct a post-implementation review to assess how well the transition went. This is to measure the results of the project, identify key lessons learned and develop an action plan in accordance with the findings. The list of questions below gives you a guideline of what issues …
Workpapers: Australian accountants dirty little secret
This week seemed to be a meeting of a number of issues that led us to consider the future of Australian taxation compliance. We believe that Odyssey completing some 50,000 jobs annually for some 500 Australian accounting firms gives us the opportunity to have higher level visibility than most firms. This week started with receiving a garbage set of prior …
Toxic inhouse SMSF work culture leads to outsourcing
This week I had the opportunity to chat to a Melbourne accountant, who was talking about his decision to outsource work over to Odyssey. Interestingly, he used the words that he had a “toxic inhouse SMSF work culture”, to which I asked him to explain a little more as this is an unusual word to associate with inhouse employees. The …
Three unknown benefits of Outsourcing Australian compliance work to a Trusted Outsourcing partner with current knowledge of Australian tax laws
Australian outsourced tax preparation outsourcing services can help public accounting firms of all sizes. Particularly, outsourcing allows smaller practices to compete with the same quality as larger firms that have invested more heavily in training/systems/procedures. This week we have a look at three often unknown benefits of outsourcing work to a trusted outsourcing partner Benefit 1: Zero tension regarding Australian …