Poor skills, lack of scepticism blamed for audit quality problems

How do you drive an accountant completely insane? Tie them to a chair and mess up their excel formulas.

Why digital financial reporting should be mandatory

Despite the noted benefits of digital financial reporting, Australia has no apparent, immediate plans to make it mandatory – even though many G20 countries have done just that.

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How advisors can support small businesses to access finance

New Xero data shows that one in five small businesses in Australia experienced more than six months of negative cash flow in the year, an indication of just how systemic ongoing cash flow stress is. Helping small businesses access the right working capital is one way we can support them through potential cash flow crunches.

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Poor skills, lack of scepticism blamed for audit quality problems

Australia’s biggest accounting firms have blamed skill deficiencies among their auditors as the top cause of issues with the quality of their audit work, a new report from the corporate watchdog has revealed.

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Practice management makes perfect

Assigning jobs, improving efficiencies, maintaining compliance: there have never been so many options for running a smooth practice.

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From the Accountants Chat Australia Group

Accounting tech update:

I’ve been working on how to optimize service offerings as an accountant. A recent survey I conducted with the Accountants Chat Facebook group showed that most firms have clients on a fixed service package, which is different for every client. This creates an opportunity to refine/optimize pricing and service offerings. This could be done by creating a way to A/B test pricing, offering or service disruptions and tracking the conversion rate when bidding for work. 

Thanks for reading. If you have any feedback, please reply to this email.

Ryan David

Accountants Chat Australia group.