“Automation to gut 1.5 million jobs from Australian economy” was the heading 24 Feb 2021 in the online Australian article. As per the article, there is one job sector that will dramatically change in the next few years, forcing Australians to pivot as many will inevitably lose jobs. The report suggests those most at risk are those who perform structured …
Is Digital Disruption in the Accounting profession just a load of garbage?
As we all settle into the thought of a break at Christmas time, it’s likely we’ll reflect on the year that was, which is only mid year in the Australian accounting compliance world. More interestingly, what’s really changed this past year. The compliance world seems to be “same old same old”, more tax regulations have been introduced, but apart from …
Australian Accounting Compliance workplace experience is needed to fight the rise of the machines!
We live in a dramatically different world that is different because of globalization and technology. Outsource your work to a quality company like Odyssey, and get on with adopting new technology. Your future, and your children’s future, depends on it! As we head into this New Wave of industrialization, there is a need to look at not only where the compliance …
The Fourth Wave of Industrialisation, and its impact on Australian compliance work.
If you managed to attend Xerocon at the Brisbane convention centre recently, you might have noticed some pink flamingos in a ball pit, and other interesting goings on. Certainly the new cloud providers are expanding traditional accountants mindset, and challenging the status quo of traditional compliance! So for some it might not seem unusual on Day 1 of Xerocon for …
Australian compliance: Automation and unemployment increasingly likely
During the Australian Christmas break we thought we’d reach out into some holiday reading. “Inventing the Future: Postcapitalism and a World Without Work” by Nick Srnicek and Alex Williams, touches on some interesting concepts, which are particularly relevant if the apocalyptical end of compliance is even half way true. In this book, Nick and Alex put forward that Automation and …
The future of Australian Tax Compliance… Why Gen Y find it hard to engage
With Automation likely to impact compliance in the near future, and offshoring impacting compliance now, this week we look at Gen Y’s engagement with the future of compliance. There has been plenty of discussion about offshoring and automation affecting compliance, and particularly where the new “Middle Managers” will be found in 3-5 years if graduates aren’t being engaged and recruited …
Changes to SMSF Compliance… More reporting, more automation
A couple of days ago an interesting video was released of the discussion between Ron Lesh of BGL and Peter Switzer. In the video there is plenty of discussion about the changing laws and reporting requirements for SMSF’s in Australia, and the fluid and every changing nature of SMSF’s and SMSF reporting. The ever changing SMSF laws have been the …
The Future of the Professions – Commoditisation and Automation all around
We had an Australian lawyer visit our office the other day. This is pretty unusual, especially as we’re pretty much just about accounting for accountants. Anyway, he’d been referred by his friend, an accountant, who said he should look us up if he was ever in Vietnam. He’d more recently been feeling the pressure of the legal profession, and the …
New accounting software with Big data analysis is here
I had a chat last week with a gent from a small company that had created some new and quite exciting accounting software. What was interesting was that the gent was pretty much running the whole show by himself. He’d identified a niche market, which in this case was freelancers, and he had developed accounting software to support freelancers. And …
How accountants will survive automation
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, …
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