The Accounting industry is going through transition at a rapid speed both from the perspective of end client and regulatory authorities. At one side the clients are expecting to turn the accounts at much improved speed while the regulatory authorities want the accountants to look into several aspects including that of Money Laundering, etc. This has posed several challenges to the accountant including the following:

  • There is always a constant pressure from clients to get their job done quickly and therefore it becomes difficult for the  Accountant to prioritise  work.
  • Staff management is one of the key issues areas in a  practice. The practitioner always thinks about the issue and whether the firm is under staffed or over staffed, are they underperforming or are they under immense pressure
  • In meeting statutory deadlines and client’s expectations, Accountants tend to do a quick job by taking shortcuts which means incomplete and undocumented files which could create a problem at the time of HMRC enquiry or QAD visit.
  • With increasing demands to keep up with the volume of compliance issues, practitioners often find this challenging and distracting.
  • There is no loyalty in the current economic climate. Clients tend to switch Accountant if they can get services cheaper somewhere else.
  • Due to a  lack of planning, Accountants tend to work on the basis of deadlines rather than providing proactive value added services to their clients.

Corient has deep accounting expertise, servicing end clients across various industry sectors. We have helped our accountants to reduce their operating costs, take on additional clients without adding any staff, relieved  the year end pressure and improved the sales realisation. We have extensive experience in working on SAGE, IRIS, Quick Books, E-conomic, Kashflow, etc