“The secret of change is to focus all of your energy,
not to
fighting the old, but on building the new.”
- Socrates
Last week I attended an annual
meeting of an association that gathers accounting firms in Miami. This
meeting takes part every year, in different continents, and generally we tackle
the same topics: compliance, branding, “Big 4”, IFRS, IASB, IFAC, ISA, ISO, and
many other letters that struggle to stand up for something with real meaning…
However, this year something
caught my attention. The future of accountancy as we know it. I have read
several blogs and news on the professions of the future, in which none
accountancy appeared. We will be infamously replaced by automatic accounting programs
and express exchange of information between the different institutions and
countries. You can check this great article of FastCompany
But maybe there is a light at the
end of the tunnel…
So, what do we need to know to be
prepared to the future…that is almost today?
You may think that many of the
topics mentioned above are already in practice or may be taken for granted.
However, it is surprising how many firms are lacking the minimum standards
related to adapting for the future. They are mainly focused in auditing
practices, bookkeeping or tax compliance, instead of thinking how to create new
markets and new clients. Sometimes I feel that accountancy firms are born with
the fire of young accountants to continue as a burden for the future
generations. After five or so years…where is the drive and passion that comes
when one or more partners decide to create a new firm?
So, if you don´t want to fall in
the big red market of decaying accounting firms, you must be aware of that near
future, and take the following piece of advice that also was given in that meeting:
It may seem complicated to adapt these points, but if we ponder on them we may find that they are just a different approach to do what we already know to do. It is just a matter of perspective...
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