Compliance Is Not Dead, It’s Evolving

Portrait of Seth Fineberg
Fineberg

Personal education is key.

By Seth Fineberg
Accounting Firm Operations and Technology Survey

For all of the talk of automation taking away basic accounting work and the bell tolling for any practitioner not moving toward more advisory work, the fact is compliance is not going away.

If anything, the evolution of technology has made compliance work easier – and I dare say more profitable – for particularly small accounting firms that rely on this work as an annuity, their “bread and butter” if you will. The point is, and particularly for the small firms that make up the majority of the accounting profession, compliance is not going away but it is evolving.
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SURVEY: Practice Management by the Numbers

Data chartBONUS: 6 charts, including most and least effective ways to control costs.

Accounting Firm Operations and Technology Survey

Our survey respondents were asked practice management questions that explored how much time is spent working from remote locations, the top challenges of managing the firm, channels to bring the most new clients to the firm, time spent managing tasks, and methods for controlling costs.

They were also asked about initiatives that generate revenue, their biggest technology challenges, security in the cloud, communications with clients, mergers and acquisitions, wireless networking and plans for the firm’s website.
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Six New Rules for Smarter Tech Spending

Plus: Topline findings and recommendations for firms of every size from the new Accounting Firm Operations and Technology Survey.

By Brian Tankersley
Accounting Firm Operations and Technology Survey

Many practitioners think that CPA firm information technology is easy, and the really hard work is done with people who have large databases, etc. Nothing could be further from the truth, as it would be normal for a staff tax preparer to have as many as 12 applications open at once.

More from the AFOT Survey:  Top Video-Conferencing Tools: GoToMeeting, Skype |  3 Monitors the New Standard |  Ready for a New Laptop?Dell Gains on Laptop RivalsWhen to Replace Your Desktop PC?Accountants’ Favorite Desktop PCWho’s Still Using Windows 7?Cisco, SonicWall Top Firewall ChoicesHow Firms Manage Mobile Devices

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Very few things are as important to your firm’s effectiveness and efficiency than the reliability and effectiveness of your technology.

Some general guidance on how to approach IT in your firm includes the following. READ MORE →