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'Fearmongering' about the loss of compliance revenue could scare the next generation of accountants and prevent them from entering the industry, according to Reckon managing director Sam Allert.
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Fearmongers scaring future accountants away, says Reckon
02 October 2015
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9 minute read
Speaking to AccountantsDaily at the annual Reckon Conference in Sydney, Mr Allert noted that for accountants, this is “a very interesting time”.
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“I think all the changes are positive," he said, alluding to outsourcing, succession planning and the influx of cloud technology as revolutionary developments within the profession. "The thing that worries me is that too many fearmongers are scaring people, so that the next generation won’t come into accounting.
The ability to integrate younger generations and the influx of cloud technology into existing firms is something that should be embraced, Mr Allert said.
“You could take a baby boomer's practice today, all of the relationships and clients, even if they were baby boomer clients, they’ve probably got children. You can come in as a younger generation and streamline it, improve some technologies and run an awesome business,” he said.
Fear regarding the future of compliance, however, is rife, according to Mr Allert.
“Some fearmongers are saying you’re going to lose your compliance revenue – people are fearing that,” he said.
While outsourcing is a polarising issue, according to Mr Allert, its application within a firm’s operations to free up time is something that could be looked at.
“Everyone thinks of outsourcing as outsourcing the accounting function, but you could outsource administration, marketing and a whole range of things. It’s not just outsourcing compliance,” he noted.
Despite the fear and uncertainty that is prevalent among certain areas of the industry, Mr Allert said he is clear about his intentions for the future of the profession – and the need to encourage the next generation.
“I’d like to make accounting 'cool', and have the next generation come through and not think of accounting as this boring profession, and actually come through and say, ‘I want to be a part of that'," he said.
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