The accounting profession faces greater regulatory responsibilities and costs with new anti-money laundering (AML) and counter terrorism financing legislation expected to pass federal parliament in 2019.
Finance professionals are often the target of scams but they can do a lot to stop online scammers. Here’s how to avoid being the victim of a tax scam.
Ron Flood CPA, a public practitioner, successfully battled cancer while keeping his practice afloat. Learn how having a risk management plan helped.
With the Australian Taxation Office (ATO) increasing its compliance activities to reduce what it has identified as an $8.7 billion gap between what it has collected from individual taxpayers and what it should have collected, it may be tempting to consider any old tax audit insurance product. Here’s what accountants should know about junk insurance.
Starting a business with the end in mind is sound advice, and something all accounting practitioners should seriously consider. Read on for three keys to a successful transition.
Practitioners have been encouraged to use data analytics to more productively interact with clients and grow their businesses – but there are risks along with the rewards.
Smaller businesses looking to accelerate their growth curve have more funding options than ever before, but as one prominent accounting and business advisor notes, it still all comes back to strategy. Here’s how to help a client who needs capital.
Small and medium-sized accounting firms are dipping their toes into data engineering, the plumbing behind data-driven advisory.
Single touch payroll – or STP – will soon be mandatory. Are you and your clients STP ready? Do your clients understand their payroll tax obligations?
Accounting firms are vulnerable to whaling scams, where cybercriminals impersonate a senior executive.
Disruption calls for innovative thinking. Here are nine brilliant business ideas to get you started.
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Finding it hard to pick up the pace after the year-end break? Three CPAs share their tips and tricks for taking on the new year strategically and reflect on the economic outlook for accountants and their practices in 2019.
With insurers increasingly averse to risk, accounting firms are having to pick up the tab.
All work and no play make Jack, Jane and everyone in-between not only dull, but unproductive. Here’s why staff engagement is critical to the success of your smaller accounting firm.
Clients are demanding more from auditors because they know machine processes are available to provide greater insights, the World Congress of Accountants (WCOA) learned.
Podcasts can reach virtually anyone, anywhere, anytime, but for an accounting firm, launching a podcast is not a decision to be made lightly. Here's what to think about before you decide.
Savvy accounting firms are using their relationships with start-up tech entrepreneurs to deliver internal efficiencies and create exciting new lines of business.
Practitioners performing the role of a virtual CFO are not only widening their client base and growing revenue but riding a wave of increasing demand.
Australia’s large franchise sector is a lucrative market for accounting firms. Two experienced practitioners discuss the opportunities and challenges that come with working in the franchise sector, and what makes franchisees different to other small business clients.
Teaching staff about empathy and how to communicate with clients: a panel discussion at the World Congress of Accountants (WCOA) argued that these “soft skills” are just as important to the modern accounting firm as technical skills.
Australian accountants lagging in their various tax obligations are being put on notice.
Accounting software companies are developing products at a breakneck pace for small business and accountants. Here are the pros and cons of Xero, MYOB, Sage and more.
Something phishy about an email your business received? That's only the beginning. Here's why adopting the right strategies to prevent cybercrime is crucial for your accounting firm.
Selling your public practice outright or passing it on to a family member aren’t the only paths available when it comes time to start planning for succession. Here are some of the many options.
Now that many small businesses are required to report and respond to a data breach – and do so within 30 days – it pays to have a response plan in place to protect client confidence and avoid reputational damage. All public practices must now pre-plan for if the worst happens.
When you hear the terms “start-up” or “entrepreneur” do you think, “That’s not me”? If you’re launching your own public practice, you’re an entrepreneur! Setting up a practice takes planning, commitment and know-how – but also a solid dose of entrepreneurial spirit, as Saurav Wadhwa CPA learned.
Public practitioner Peter Knights FCPA finds his accounting skills in high demand in rural Victoria.