The accountancy profession is not doomed. But it does need to re-invent itself again

Reading the accountancy press and listening to the "gurus" of the accountancy media you'd be forgiven for thinking that you and your practice are staring into a technological abyss. As ever, in the real world, there's more to it than that.

As with every business, the accountancy profession is being profoundly affected by new software services and the internet. The new generation of business founders think differently and expect to work differently to their parents. But, and this is the point often missed, they want the same results.

The challenge for today's accountant is to re-engineer their practices to deliver the same results but in new ways. When clients have the means, via cloud software, to do their bookkeeping and their payroll, and even file their own accounts and tax returns then they need different things from their accountant. They don't need their accountant to handle their compliance processes they need their accountant to monitor, supervise, advise and intervene where necessary.

The future becomes less about producing accounts and more about analysing, correcting and optimising accounts. Since clients won't really value the mechanics of compliance, firms need to be ruthlessly efficient in how they deliver compliance work.

Because Checkmybooks analyses every single transaction in a client's accounting records and then automatically produces a set of review points specific to the clients transactions, it is software that will allow accounting firms to re-invent their year-end accounts work and continue to thrive in the brave new world.