Outsourcing is not a new way of working, and outsourcing to Australian accounting firms is now approaching 20 years. Certainly a mature offering for those firms like Odyssey that were the first movers (the pioneers) in this space. However, it’s acknowledged that with demand far outstripping supply in this area, there has recently arisen “labour hire” firms, with low barriers …
Evaluating the Potential risks of Outsourcing your Australian Accounting, Taxation and Bookkeeping Compliance
In the first part of this series, we discussed the benefits of outsourcing accounting, taxation and bookkeeping compliance to an offshore provider. Understanding the risks associated with the outsourcing is as important as evaluating the benefit. Outsourcing has 3 key success factors / risks: Quality, timeliness, price. Generic business risks are generally well understood and relate to a large extent to these key …
Can you really expect a higher quality of life with Outsourcing?
It was interesting to see the comments by Rod Drury the other day as he stepped away from his role as CEO. “..really, for the last 15 years, I’ve flown at least every week or two. While I like to think I was a good parent, what I realised now with the hindsight of a few months is that I was …
The 7 top challenges in auditing SMSF’s over the next decade
With many recent developments in the SMSF area, it’s hard to take a step back and take a hard look at the future of the SMSF audit, and even the SMSF auditing profession as a whole. Certainly, there are some very close “in your face” issues that are at the forefront of SMSF auditors minds: Visits by the ATO, ASIC or …
“Outsourced Offshore” versus “Labour hire Offshore” – Two different tribes
There are a now dozens of new entrants into the Offshore “Labour hire” market, and the more mature “Labour hire” firms overseas are expanding their reach by re-badging or re-naming themselves as “Credible Outsourcing Experts”. Yes, many of these labour hire firms have the opportunity to push themselves into the market as “Credible offshore experts”, but if they aren’t taking …