In 2015, the Australian government tagged small businesses as the “engine room of the Australian economy” – they drive economic growth. As reported by the Xero blog, small businesses constitute 97% of all the businesses in Australia. Such a staggering figure presents a good opportunity for your firm to provide small business accounting services.

Many businesses have been handicapped by the hard lockdown and other quarantine measures imposed by governments around the world. In the coming months, businesses may find it difficult to manage their accounting process due to the disruptions in our day-to-day life. Now may be the best time to consider outsourced accounting services.

Internal audit outsourcing has been a contentious topic in the past years. Some believe that the internal audit process should be kept in-house, partly because outsourcing the audit planning process could be both costly and complicated.

During a crisis, having good dynamics between boards of directors and management teams is important for an organization to be able to recover successfully.

Growing your accounting practice can be a challenging endeavor. When you decide to scale your firm's practice, unforeseen challenges may crop up that may prove to be costly for your firm. For this reason, taking a proactive stance towards your accounting firm’s growth is crucial to guarantee your future success.

Owing to the massive scale of economic disruption wrought by the Coronavirus pandemic, many businesses around the world are struggling. For some businesses, hiring a virtual chief financial officer (CFO) can help keep their business afloat.