96. Accountants - You're on Notice

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Indepth: Accountants - You're on Notice.

We live in an anti-establishment world and accountants are perhaps the thread that ties the establishment together, so we need to be aware. With Royal Commissions into banking, aged care, mental health and pay day lenders, as well as parliamentary inquiries into franchising and even the ATO facing a Parliamentary committee, we have to be on alert.

Is our behaviour and action truly inline with our regulatory obligation and being the trusted advisor we think we are?

In the wake of these commissions and inquiries, many of which slammed the practices of sales and cash collection cultures, our industry is peppered with consultants telling us to grow, sell, use value pricing which charges clients different fees for the same work and sometimes same outcome.

We need to focus on being who we are and being great at it, because an inquiry into our conduct is not a far bow to pull.