n Professional Accountant - Building your business advisory practice - practice management tips for SMPS : practice management

Volume 2014, Issue 22
  • ISSN : 1680-7537


In the future, SMPs may no longer be able to rely solely on traditional accountancy-based services as their main source of revenue and growth as demand for these services declines. In many countries, fewer small- and medium-sized entities (SMEs), the typical clients of SMPs, are being audited, as thresholds are introduced or increased and governments move toward self-assessment of tax to reduce compliance costs for SMEs. In addition, technology is commoditising many of the day-to-day compliance services traditionally supplied by SMPs, reducing the need for a professional accountant and driving down fees.

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