07

May 2024

The Australian Accounting Landscape Amidst Declining Graduates

By: Odyssey General, Outsourcing
Tags: labour shortage, offshore, Outsourcing

The Australian accounting shortage is likely to continue due to a number of contributing factors: Below we cover these issues. Accountant shortage, knowledge gap a ‘grave concern’ for leaders Currently, there are 37,428 accounting services businesses in Australia. This figure is expected to grow by 2 per cent year on year. Concerningly, the number of accounting graduates has halved, resulting in a shortage of …

12

Mar 2024

CPA Australia reports growing shortage in Accounting Graduates: Navigating the ongoing Compliance accounting Shortage Through Offshore Outsourcing

By: Odyssey General, Outsourcing
Tags: Accountant Shortage, CostEffective, GlobalTalent, OffshoreSavings

Following CPA Australia’s reported reduction in accounting graduates, more accounting firms businesses are looking at different offshore outsourcing models. Offshore accounting compliance becomes a strategic move to access global talent and drive efficiency.

15

Feb 2024

Australian Accounting firms shift change: Navigating Offshoring Work Amid Australia’s new “right to disconnect” laws”

By: Odyssey General, Outsourcing
Tags: AccountingEfficiency, CostEffective, GlobalTalent, OffshoreSavings

Australia’s new “right to disconnect” laws offer Australian accounting firms opportunities to “Maximise efficiency and minimise costs: Discover how offshoring can transform your accounting firm’s bottom line once your Australian accountants clock off.”

14

Jul 2022

How the fluctuating Australian accounting dollar impacts overseas labour hire companies

By: Odyssey General
Tags: Australian Accountant, Exchange Rate, Exchange Risk, Offshoring, Suppliers

It’s no secret that many Australian SME firms have been seeking labour hire overseas, with the risk as these services are usually quoted and paid in the foreign country source currency. With an Australian accounting dollar noted as a fluctuating currency, and the recent economic turmoil, especially in times of high inflation, it’s sure the foreign country source currency can …

23

Jun 2022

The worker shortage continues

The worker shortage continues

By: Odyssey General
Tags: Australian accountants, deglobalisation, labour shortage, Outsourcing, Post-COVID, skills shortages, worker

Australian accounting, finance and legal professional services staff are being offered pay rises of up to $40,000 (on a $90,000 salary) to stay in their current jobs, and up to $100,000 sign-on bonuses. Costs of hiring have more than doubled and employers are forced to wait an average six weeks to hire new employees, potentially delaying growth plans for some …

16

Jun 2022

Why Australian accounting firm owners need to get out of the office (permanently)

By: Odyssey General, Outsourcing
Tags: Australian Accountant, australian accounting, compliance, Offshoring, outofoffice, Outsourcing, Post-COVID, Remote working

The successful practice does not need the Australian accounting firm owner to be present in the office, and should not need the owner to be contributing to the bottom line. Allow me to explain by way of the evolution of the accounting firm. In the first quadrant, an accountant gains experience through working for another accounting firm as an employee. …

09

Jun 2022

Best Practices in banking security

Australian Accountants, Time To Re-Look At Your Banking Security

By: Odyssey General, Outsourcing
Tags: Australian Accountant, australian accounting, Australian Accounting firm owners, Bank security, Outsourced Accounting, Outsourcing

In the last 3-5 years, there has been increased losses through lax security around bank accounts. Instances include loss of email accounts of senior executives and these accounts are used to email the junior payable accountants requesting payments to fraudsters bank accounts, all the way to loss of control of bank accounts through loss of control of mobile phone banking. …

02

Jun 2022

Best practice in phone security for Australian accountants

Australian Accountants, Time To Re-Look At Your Mobile Phone Security

By: Odyssey General, Outsourcing
Tags: Australian Accountant, australian accounting firm, Mobile Phone Security, Outsourced Accounting, Outsourcing, Phone Security

In the last few years, there has been increased activity by nefarious actors in the identity theft and bank hacking. Many bank hacks occur with the loss of control over the mobile phone number, frequently through SIM jacking. There are plenty of sites online that can give information on how best to protect your mobile number from being hijacked. Losing …