A study from Bond University into accounting offshoring – looking exclusively at the auditing function – found 67% of small accounting firms don’t disclose they offshore. Compared to 100% of the large accounting firms who categorically do. In the case of
Of the many hundreds of firms we have spoken to about offshoring in the last two years – some believe that clients won’t like to learn that their work may be conducted in parts overseas. The reality, as this Bond University research showed us and our own experience demonstrates, this is not the case.
Clients want great outcomes. They also want a firm they can trust – so
Offshoring accounting services
In this guide, we’ll share how accounting firms can approach offshoring transparently in a compliant, smart and safe way. And win the full support of clients.
Listen to the ATO
The Australian Taxation Office stipulates that tax returns must be lodged by an Australian accredited professional. Returns may be prepared offshore, but they must be reviewed, and lodged, in Australia by someone qualified to do so. It does not dictate where or how the return is prepared.
The CPA offers sage advice too
The CPA states you must abide by the rules and procedures outlined by the Accounting Professional and Ethical Standards
Transparency builds trust.
Do not hide information in small print in a clause buried in your terms of engagement. If you have chosen a professional offshoring partner, then in effect, you have an office overseas, with your own employees. Trained by you, coached by you, collaborating with your team and following your company’s policies and procedures.
That is something worth promoting upfront as an asset and is certainly worth discussing openly with your clients to dispel any concerns about parts of their work being outsourced offshore. Ultimately, you’re not outsourcing your work at all – it’s
Data security and privacy
The greatest, and
Discuss openly your approach to security and privacy from an
Only hire the best staff, regardless of their geography
Outsourcing offshore for many firms just like
When you work with a professional offshoring
If you don’t want to hurt your reputation, then don’t support offshoring
Don’t entertain the suggestion that companies offshore to avoid paying superannuation, maternity leave or firing compliance.
Every office must have a health station with a nurse for staff over 50, and if there are over 100+ staff, you need a visiting doctor on board weekly.
There are also laws in place to ensure that employees are safeguarded against
Don’t go into offshoring blind.
If you’re interested in growing your business, spend the time learning how to offshore in a compliant, safe and seamless way. Our website offers extensive information. You can also book an