Corrupt insiders at offshore call centres sell private data…

David CarterIn the Press

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 … Read More

Disruption in the Professional Services sector…

David CarterIn the Press

The (On-Demand) Professional Services Experts are coming!!! If you’ve been thinking you have time to develop your skill set as your compliance revenue streams dry up then it might be time to think again. That space is already being filled. Any sector that has fixed assets/resources is likely to suffer from disruption. This week we look at the disruption by … Read More

Qantas and Airbnb, a permanent (disruptive) arrangement…

David CarterIn the Press

A few days ago it was announced that Qantas and AirBnb have teamed up together in a world-first partnership. Earlier this year Qantas announced that it was going to bring faster NBN standard wifi on board its planes in late 2016, with speeds suggested at 10 times faster than conventional on board wifi. From this interesting announcement we assume we’ll all … Read More

Relax, a robot might not take 98% of your compliance work

David CarterIn the Press

There have been plenty of reports recently about jobs areas “at risk” due to computerization, commoditization and offshoring. A 2013 report on “the future of employment: How susceptible are jobs to computerization” talks about factors impacting work in the future including the surge in computing power, streamlining of tasks and offshoring. Certainly these issues are still relevant today. This report … Read More

Australian Accountants are using offshore outsourcing

David CarterIn the Press

Just last week a news article came out with the heading: “Australian accountants are using offshore outsourcing” In an era where newspapers search for newsworthy news, this might be as shocking as it gets in the accounting world. The first interesting question is why, after a week of the article being online, there are yet no comments. Perhaps this isn’t … Read More

SOA Automation. Tools promising 80% time savings putting pressure on offshore Paraplanners

David CarterIn the Press

A non-institutionally owned financial planning and accounting dealer group has launched an automated Statement of Advice (SoA) tool it claims will cut the time it takes accountants to produce a range of advice documents by up to 80 per cent. The tool produces SOA’s in five key areas: stablishing a self-managed superannuation fund (SMSF); borrowing to invest in real estate under a Limited Recourse … Read More

More Disruption on the way… SMSF’s and free HR Software

David CarterIn the Press

Westpac Banking Corporation’s venture capital fund Reinventure Group has invested into Flare HR, a startup that is looking to disrupt the industry super funds’ stranglehold over the market for default super funds. Flare HR provides free HR software to small-to-medium-sized enterprises. The free software is a fully digital on-boarding process for employees and includes employment contracts that are signed electronically by cloud, performance reviews, … Read More

Blockchain technology is going to change the face of finance forever

David CarterIn the Press

We’re starting to see some momentum in blockchain, with blockchain being touted as the glue that is going to drive a productivity revolution across the globe on par with what Henry Ford did with the automobile. Big banks around the world are moving at pace to build blockchains. A group of 40 global banks have used different distributed ledger technology to … Read More

Little evidence of problematic offshoring

David CarterIn the Press

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 … Read More

Firm of the Future

David CarterIn the Press

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. … Read More