18

May 2017

Australian Compliance, Outsourcing

Is a black swan event just around the corner for Australian compliance?

By: Odyssey Outsourcing
Tags: Australian compliance, compliance, offshore

With Mother’s Day just past there has been some interesting online discussion about the commoditisation of the florist industry. There are many similarities to the “Commoditisation of Compliance”. We are all familiar with Airbnb, Uber and the other connectors in the industry, and their margins are well known. Airbnb offers a more unique product while Uber offers a transport which …

11

May 2017

The Ethical dilemma of offshore providers supporting non registered tax agents

By: Odyssey Outsourcing
Tags: ethics, Overseas outsourcing, tax outsourcing

Had an interesting phone call today. Odyssey was called by an Australian accountant who was wholesaling to other Australian accountants.  The conversation progressed well and they were impressed by our business model, pricing and reputation for quality. They particularly liked our ad hoc approach to receiving jobs. Afterwards as we moved towards preparing a services agreement for them we ran …

04

May 2017

Australia’s new data breach notification laws. Are your suppliers ready?

By: Odyssey New Legislation
Tags: cloud, Data breach, Data security, Disclosure, due diligence

With an increase in data now on the cloud, and a number of third party services providers assisting Australian accountants, it’s a good time to look at the ever changing laws on data breaches. More recently, there was the “Can you hear me” scam reaching Australia. The scammer only needs to record you saying “yes” over the phone. The intention …

27

Apr 2017

Disruption in the real estate sector, lessons for Australian compliance

By: Odyssey General
Tags: Automation, Digital Disruption, Outsourcing, real estate, time on compliance

Watching the recent changes in the Australian real estate sector has been interesting, along with comments about McGrath and the newly formed “The Agency”. An interesting comment surfaced recently: “Going back before the float I could see the fragmentation of the industry – the huge impact the internet is having on our business model, the unprecedented low stock levels, and how …

20

Apr 2017

The 2017 salary rise forecast indicates up to 6.3% raises for Tax Compliance staff. Time to outsource?

By: Odyssey Publication
Tags: pay rise, Robert Half, salary guide

Robert Half released their 2017 Salary guide with insights into the latest salary ranges for finance and accounting, technology and administration and office support professionals. The report says the biggest gains in starting salaries are in Brisbane, with pay cheques in finance and accounting jobs set to rise by 3.5 percent. Melbourne is second with increases of 2.5 per cent. The top …

13

Apr 2017

Australian Accountants have big problems: Disruption hits hard in professional services.

By: Odyssey General
Tags: compliance, Disruption, Offshoring

We live in interesting times, but there is no denying disruption over the past 20 years since the internet and email burst onto the scene. Uber, Airbnb and Xero have been around for over a decade, and yet at the same time we still have rampant use of desktop bookkeeping and accounting software here in Australia. A little over a …

06

Apr 2017

How accountants will survive automation

By: Odyssey Automation
Tags: Automation, Bots, compliance

Remaining relevant suddenly takes on a sense of urgency with recent automation releases. It’s pretty obvious by now that clients aren’t going to pay for someone to regurgitate the tax code, when they have access to the same tax code online. Firms building their own compliance teams offshore are headed in the wrong direction. The push should be into automation, …

23

Mar 2017

Goodbye to Compliance Jobs, but will Robots meet with your clients?

By: Odyssey Automation
Tags: Automation, compliance, offshore, Robots

Goodbye and Good Riddance to Compliance. But just how far will robots and automation shave off the compliance workload. And will robots meet with your clients? In mid last year there was excitement on the release of robots which mimic human walking habits, with videos released of the humanoid Durus. Later last year a massive 4 metre Avatar like robot was built in South …

16

Mar 2017

Australian Tax Workers: Is the next wage push just around the corner?

By: Odyssey Publication
Tags: Offshoring, overseas, Wages pressure

Recently Morgan McKinley released their 2017 Accounting & finance Salary guides. Focusing on the compliance salaries in Accounting & Finance Salaries in Commerce & Industry the more interesting numbers come from the “Tax Accounting” side with newly qualified accountants being paid $70,000 to $90,000; Senior accountants being paid $90,000 to $120,000; Managers $100,000 to $150,000; Senior Managers $140,000 to $180,000; and Directors/Heads from …