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 …
Automation decimates Australian compliance
This week we thought we’d switch back to a date in history. The installation of traffic lights in Brisbane. Starting with the end of the story. After the traffic lights were installed and switched on, it was reported that the police officer on point duty at this intersection walked off his post for the last time just as the Minister for …
Netflix Tax is coming… Are you ready?
The new GST tax is coming. There’s been plenty of news about retailers being unable to compete with imports under $1,000 not having GST, but now the government is extending GST to digital products and other services imported by consumers. Introduced as the amazing Australia “Netflix tax” back in April 2015, and a move which would “level the playing field” it …
Will Australia’s minimum wage force more work offshore?
Quick Question: In what country is it permissible under law to pay a minimum wage of US$2.13 per hour plus tips, or US$4.25 an hour for the first 90 calendar days of employment if under 20? Ok so yes, we agree the US$7.25 minimum wage in the US is probably a more reflective figure. But it’s still remarkably lower than the …
Corrupt insiders at offshore call centres sell private data…
Powering into the Australian news recently is the investigation by Fairfax media into the sale of private details of Australian customers. A Mumbai-based security firm is asking between $350 and $1000 in exchange for the private information. And there may be several private companies selling phone records, home addresses and other private details of Australian telecommunication company customers. What’s the risk? This …
The bots take on the offshore army
There has been a lot of online angst recently at the inability to purchase tickets to various events. Consumer Outrage! Reads one heading, and consumers requesting controls to prevent bots from purchasing tickets before people have the chance. So, it seems bots can move faster than humans in an online area. Bots aren’t anything new. We’ve all long been aware …
Should offshore workers throw away their timesheets?
In the Australia CPA September edition of the “In the Black” magazine, there is an interesting article on “Time out on billing”. Part of this article mentions of course the Value pricing that has been proposed by consultants to accounting firms for all of this current century, if not well into last century. Ron Baker, the founder of the VeraSage …
Little evidence of problematic offshoring
The ATO has revealed that while it is aware of rising concerns about more SMSF services being outsourced overseas, it has not yet run into any major issues. To date the ATO has seen little evidence of outsourcing of audit or advisory activities though this is something the ATO is monitoring. As the ATO notes, at the end of the …
Accountants more comfortable with offshoring to experienced providers
Offshoring SMSF administration and compliance work is becoming more common among accountants as the services receive more take-up and the quality of work improves. Krystine Lumanta from SelfManagedSuper writes about the general acceptance of outsourcing in the accounting industry after speaking with Odyssey Resources CEO David Carter. Many small and medium enterprises are already using offshore resources ranging from Virtual assistants …
Firm of the Future
In 2007 CPA Australia released its Firm of the Future report. Many of the key drivers of change identified in 2007 came about including technology developments, business processes, knowledge management and the mobile workforce. Underlying enablers we now take for granted weren’t in existence at that time. Iphones, ipads, apple watches and swipe technology were still on the drawing board. …
