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Leading industry players come together to tackle key issues redefining the way firms will operate in the next 10-15 years.
BRISBANE, Qld, – Principa today announced a major collaboration between suppliers to the accounting industry. Principa has joined forces with several other leading players to deliver what promises to be the most provocative industry event to be seen in Australia this year.
The Practice 2020 International Conference will run from 21-24 May at Hamilton Island on the Great Barrier Reef. Existing ideologies will be challenged and in some cases shattered, while new ideas and approaches will be formed.
A powerful speaking line-up of global thought leaders in the public accounting arena will come together to tackle the key opportunity drivers redefining the environment in which firms will operate, both here and overseas in the next 10-15 years.
Under discussion will be: the global trend in business process outsourcing; ageing firm leaders and their succession plans (or lack thereof); and the changes required to enable the industry to attract, manage and retain Generation Y employees.
According to Ric Payne, Principa President and CEO, "If history is any guide, only a small percentage of today's practitioners will see and seize the opportunities that are emerging, the rest will simply be left behind."
One of most significant changes to the profession over the next 15 years will be the effect of globalisation and the move towards business process outsourcing. In the US this is already having a major impact on the way compliance work is being handled. In 2003 there were 25,000 US tax returns outsourced to India, by 2005 that number had ballooned to 400,000. Within a decade this practice will be the norm rather than the exception (globally) and will mean that accounting firms currently depending heavily on low value compliance work will have to find an offshore partner or alternate revenue streams to remain competitive.
"The environment in which firms are operating today will be completely redefined in the next 10-15 years" said Payne. "It is my belief that those professionals who do not recognise this and take steps to re-engineer their practices will not be in business by the year 2020".
Respected international author, CPA, and founder of the VeraSage Institute, Ron Baker, couldn't agree more. "At a time when ready access to technology makes the global business world increasingly smaller, and when clients demand more and more value, the fundamental nature of the way we do business has to change", he said. "We have to be fast, flexible, and future-focused. We must increasingly deliver value-added services to compete with smaller, nimbler and more cost-effective organizations", he went on to say.
Ron Baker and Ric Payne will be joined at the upcoming Practice 2020 International Conference by a host of other local and international industry professionals including: Mark McCrindle, Australia's foremost Futurist; Stuart Black, ICAA President; Grant Bloxham, Bstar CEO; Scott Charlton, Genysys Wealth Advisors; and Julian Kirzner, Ridge Business Management. These Leading industry players will not only explain the state of the game but will outline precisely what accounting professionals need to do now to build a firm with a future.
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For information visit www.practice2020.com, or contact your local Principa Client Service liaison by phone or email.
Asia Pacific: +61(0)7 3257 7900 or info.ap@principa.net
North America: +1-866-872-1233 or info.na@principa.net
UK/Europe: + 44 0800 8456 815 or info.uk@principa.net
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