Accountancy’s future: the Dutch view
Twinfield founder Andrew Kwakernaat tells John Stokdyk that UK accountants can learn a lot from their Dutch counterparts.
After meeting UK accountants at a series of ICAEW IT Faculty roadshows on iXBRL, Twinfield founder Andre Kwakernaat told AccountingWEB.co.uk he was “surprised by how far behind the Netherlands the UK profession is”.
A veteran of the Dutch on-premise ERP software company Baan (and later CODA), Kwakernaat set up Twinfield 10 years ago when Cloud accounting was still a laughable novelty for most UK accountants.
But things are different in the Netherlands. Blessed with a much more comprehensive and reliable broadband network, Dutch citizens and business people have enthusiastically taken to the Cloud. Twinfield already has more than 6,000 customers and is the default back-end system for accounting firms including KPMG Netherlands and BDO.
“I’m so surprised about the reactions of people [in the UK]. They look at iXBRL as an end result but don’t realise the whole A-Z stuff,” Kwakernaat said. “They only take the document and see how they can file with HMRC. That’s it.”
Instead, he argues, practitioners should seize the opportunity presented by the introduction of iXBRL to change the way they work with clients. “It’s happening in Holland,” he said, and is being driven by banks rather than the government.
Andre Kwakernaat spoke to AccountingWEB.co.uk after participating in an online chat iXBRL - beyond the deadline that examined how online accounting could streamline the production of iXBRL accounts. Click here to see the full transcript.
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Dragging your feet again...
Businesses in the UK tend to drag their feet when they see more expense / red tape on the horizon.
But as in the army, you can't let individual soldiers / companies make strategic decissions, and strategies only work when everyone follows orders / agrees.
Hence innovation works best when institutions like HMRC or the banks 'force' businesses to adopt new (but tested) systems, even if the UK broadband / hardware system is struggling with the demands we put on it.
Not all benefits can be expressed in £££, and all change can involve some initial discomfort / expense but we would be foolish to ignore working practices and systems that drive more efficient countries such as The Netherlands and Germany.
Sticking with inefficient manual systems, updated by badly-paid, under-skilled workers is not the way forward.
Cloud accounting
David554
Typing in capital letters is viewed as shouting in the computer world.
Its also terribly off putting.
Sorry.
Cloud computing 2
Cloud computing in the accounting world is already beginning to happen. Even i the UK.
We cannot stay in the past. If we do not adapt we will loose. My belief is that you do not even have to have the accountant in the UK. When last did you go to HMRC? How often does the client want to come to you or vise versa? Is there actually a need with all the alternatives?
What with Skype video conferencing and sharing of screens a face to face meeting is less important.
Only reason that the UK has not adapted to it big time as yet is the conservative nature of the UK. As an example they are still using Sage! 1980's architecture with literally 100's of superior products around.
Like King Canute, you cannot hold back the tide. I lived in a country where the TV was considered the devils spawn (early 1970's). Actually banned! Now even the poorest have a TV!
So embrace technology and look forward to cloud computing accounts and everything e-downloaded, e-data entered and e-submitted.
cloud accounting & ixbrl
LIKE ALL IDEAS THEY ALWAYS SOUND GREAT,
hOW CAN THIS IDEA DRIVE EFFICIENCY AND TIMELINESS
A)YOU NEED LOTS OF JUNIORS ON BAD WAGES KEYING IN THE DATA ACCURATELY TO SET IT UP-WHICH IS WHAT WILL BE REQUIRED AFTER NEXT APRIL-IF YOU ARE NOT A SMALL FIRM-
B)I STRUGGLE TO SEE THE CONVENIENCE/CONNECTIVIITY BETWEEN IXBRL REPORTING AND CLOUD ACCOUNTING TO COMPANIES HOUSE AND HMRC BY SMALL "COMA COMPANIES" TO USE THE DUTCH TERM.
THERE IS STILL A DESPERATE DASH ON THE PART OF SOFTWARE PROVIDERS TO GET READY FOR IXBRL, HMRC HAS SAID IT COULD EASILY BE A "MOVING " DEALINE RATHER THAN A FIXED ONE
HAS ANYONE IN THE UK MADE A DASH FOR THE CLOUD ACCOUNING MARKET IN THE SMALL/COMA COMPANIES MARKET?- WHICH MOST UK COMPANIES ARE.............