Accountancy practices need to radically change

ACCOUNTANCY PRACTICES will need to dramatically update the way they work in the future according to a report by software provider Access.

By 2020 Access predicts that accountancy firms see a rise in staff using remote working capabilities with 50bn devices being used to access the internet.

The report, The future of Technology: transforming mid-market business operations, also suggests that the adoption of a virtual internet office will enable accountancy practices to employ qualified accountants from across the world, as opposed to locally sourced as is the case now.

Chris Bayne, CEO of Access UK, said: “We believe this report offers an invaluable insight into some of the key technological trends and impacts facing all accountancy firms – from small to large – in the future.

“We believe that the accountancy industry needs to be prepared and aware of the new opportunities and challenges that future technology and increased connectivity will bring us.”

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