Accountants have a seat in the boardrooms of Australia’s most powerful companies, and they’re a huge chunk of, and a trusted adviser to, the SME community. As a profession, accountants are among the most influential in the country.
It has been almost a year since the notifiable data breaches legislation came into effect, and in this time, the ATO has been working on introducing various new security measures, many of which will impact accountants.
The Financial Adviser Standards and Ethics Authority (‘FASEA’) has finalised the acceptable pathways that advisers can take to meet FASEA’s education standards.
Advisers who offer standard template documents for SMSFs without asking clients for their preference may find themselves liable if the document doesn’t match the client’s instructions, warns an industry lawyer.
BGL worked on the application of AI for its market-leading, cloud-based platform, Simple Fund 360, for two years. The goal for BGL was to integrate an AI personal assistant with Simple Fund 360 to support the labor-intensive pre-audit process. This, in turn, would help accountants improve productivity—reducing costs further—and lower transaction categorization errors.
The accounting profession is younger than ever, more gender equal, and continually growing, according to new ATO data, disproving doomsday prophets who argue that technology will kill off the industry.
In order to prevent mental burnout and promote a healthy and resilient brain, implement these five simple yet powerful daily habits.
Accountants continue to rank highly amongst the most trustworthy professions, with face-to-face interactions vital in developing trust despite digital uptake.
It’s clear that both the bookkeeping and accounting professions and how they work together are changing but what does the future hold for this partnership?