Australian compliance: Automation and unemployment increasingly likely

David CarterAutomation

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 … Read More

The future of Australian Tax Compliance… Why Gen Y find it hard to engage

David CarterAutomation

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 … Read More

Changes to SMSF Compliance… More reporting, more automation

David CarterAutomation

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 … Read More

The Legal market pulse. Exploring alternative business models including outsourcing

David CarterPublication

The Legal market pulse. Exploring alternative business models including outsourcing

The Commbank Legal Market Pulse has some interesting reading for Australian accountants, especially in the compliance area. Australia’s leading law firms are moving into, and responding to, a rapidly changing market. The changes are brought about by intensifying competitive pressures, with subdued revenue growth, margin compression, and increasingly demanding clients. This is compounded by continual price negotiations, the increasingly competitive … Read More

5 Threats to Australian compliance work today

David CarterGeneral

In this blog we put down our thoughts on the 5 big threats to the future of Australian compliance. Software houses and Artificial Intelligence Starting the countdown from the most important threat (I guess that means we have the drumroll first), is Software houses and Artificial Intelligence. We put these at the top of our list, and research shows that … Read More

Disruption in the real estate sector, lessons for Australian compliance

David CarterGeneral

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 … Read More

How accountants will survive automation

David CarterAutomation

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, … Read More

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

David CarterAutomation

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 … Read More

Are we irrevocably losing Compliance skills in Australia?…

David CarterOutsourcing

I had a chat with a firm the other day that was resisting outsourcing and going to keep hiring local staff, on the pretext that managers of the future had always come from within the ranks. Late last year we blogged about the possible trend to bring the jobs back home as a result of changes in the Australian political climate. … Read More

Simple Australian “I” returns disappear from Australian Accountants’ Compliance work

David CarterGeneral

Technology is changing the way taxpayers worldwide interact with tax authorities. And it isn’t any different in Australia. The move towards self-lodging is inevitable for many reasons. Looking back into last century, Australia has had e-tax software for self lodgement since 1999 and for 15 years it was the only way for self-lodging individuals to lodge their tax return online. The … Read More