The advisory-compliance divide is much discussed in accountancy, but where did it originate? And can you really separate the two in 2019?
This podcast examines how the split came about, look at how technology has affected this and ask if it is still valid in accountancy in 2019 and beyond.
Joining host Tom Herbert are director of partner and product at Xero Damon Anderson, former practice owner and business consultant Della Hudson and Mark Telford, director at Telfords Chartered Accountants.
What is in this episode?
Over the course of this podcast, some of the topics Anderson, Hudson and Telford discussed are:
The difference between advisory and compliance
Can you define a firm as ‘advisory’ or ‘compliance’ based on their service lines?
What performance metrics should firms be looking at?
Does this affect the type of staff you hire and the way you train them?
How is new technology such as bank feeds and artificial intelligence changing this equation?
Some firms have made their names on the ‘compliance factory’ model – how will they be affected?
Other firms have used technology to shift their business model and become business consultants – is that what clients really want?