To get themselves ready for the introduction of the new EU-wide data and privacy law on 25 May, we know that many of our customers have been taking a long, hard look at their policies and internal procedures. At the same time, we’ve been taking a long, hard look at the software that they rely on to prepare tax returns, produce accounts and run their accountancy practices. We’re delighted with the results!
We have high expectations of technology. In their latest Tech Trends report, Deloitte reported that 67% of CIOs expect IT to deliver increased efficiency and reduced costs and 70% expect it to deliver business process improvements.1
To stand a chance of delivering on its full potential, the implementation of new software in your accountancy firm has to be the best it can be. This guide outlines seven best practices that will give your next technology or software project its greatest chance of success.
Many of us find change challenging. We rationalise our caution by quoting the popular saying, “If it ain’t broke, don’t fix it”, which makes a desire for change seem almost perverse.
But what happens when it is broke? Or broken enough to need fixing? Or due to break very soon? What happens when your competitors are less broken than you? Or when your customers think your offering is broken? In these circumstances, you can’t afford not to fix it.
This article looks at what drives change in a modern accountancy practice.
What do complex processes like performing an audit have in common with the nuts and bolts business of, say, assembling a car or manufacturing a mobile phone? Perhaps more than you might imagine at first glance. So if you haven’t yet considered the advantages of automating the audit process, maybe now’s the time to do so.
The Information Commissioner’s Office (ICO) recently fined Carphone Warehouse £400,000 for security breaches following a cyber-attack that the company suffered in 2015.
Although the fine, imposed under the current Data Protection Act, is among the highest issued by the ICO, it’s dwarfed by the potential fines available under GDPR, coming into force on 25 May 2018; these will be up to a maximum of €20 million or 4% of global turnover, whichever is higher.
So why was the penalty for Carphone Warehouse so high? And what should organisations now do to protect themselves from action under GDPR?
The General Data Protection Regulation, which will come into effect across the EU on 25 May 2018, will have a profound effect on business systems, workflows and internal processes.
For many practices, the firm’s website is one of the primary touchpoints with new and future clients. It’s often the first point of contact, a place to introduce your team, explain your services and collect vital contact data from enquirers. Which means your website is in the front line when it comes to GDPR compliance.
With less than six months until the General Data Protection Regulation (GDPR) comes into force, how well prepared are accountants to deal with the impact of the new data protection laws? We recently surveyed over 100 individuals from UK accountancy practices to find out.
Digital exclusion is the inability to access online products or services or to use simple forms of digital technology.
Certain groups could be exempted from the digital aspects of MTD on the grounds of being digitally excluded, but what about those who are merely “digitally challenged”, those unwilling to engage in the digital future rather than genuinely excluded from it? Read this short guide to digital exclusion and find out how digital exclusion might affect your practice and your clients.
What’s in store for the UK economy? Now that “Spreadsheet Phil” has presented his latest forecast and plans to Parliament, we summarise the main points in the 2017 Budget.
As tax professionals think about how to prepare themselves and their clients for Making Tax Digital, we’ve drawn together useful background information, a short FAQ, implementation timetable and wider timeline information into a simple guide to MTD.
You can download this useful resource straight from this blog article.