The Slater View
We're fans of globalisation and we understand the new business landscape. But we draw the line at sending your confidential work offshore. Ask your accountant today....
If your accountant is doing this, I believe they should tell you. That way you can make an informed decision whether this model suits you or not. For some it may. For some, it just won't. Be informed. Ask your beanie.
A few years ago we looked into this option. We did considerable research on the pros and cons of using overseas bookkeeping services as part of our own business plan. We looked at bookkeeping concerns in The Phillipines, India, Indonesia and Malaysia and the quality of work and the familiarity with the Kiwi taxation system was not up to our standard. There were all sorts of issues that affected quality and confidentiality for the accountant and for the client.
There wasn't the same capacity for what we call our "creative accounting model." That's the kind of accounting that gets you the best results long term for your business. It's not just about numbers and tax. It's about people and connections and trust. Accountants are your trusted advisors. The creative accounting model we subscribe to is about a lot of things. It's about people, confidentiality and business. It's also about strategising and goal-planning long term.
Are accountants in Hamilton and Waikato now sending clients' work offshore?
We know one thing. We're not. We simply choose not to.
While sending your work offshore may well increase our profits, for us, this just doesn't justify the risk to the client or the potential reduction in work quality. Long term it looks like an unsafe and unwieldy beast. One you can't quite adequately control.
Ask your beanie today. We're concerned. You should be too. I personally view it as an ethical issue that goes right to the heart of the accountant/client relationship. If your work is being farmed offshore, the Slater view is that the client deserves to know this. Then he or she is able to make a truly informed decision about who is accessing their information and how and where it is being done.
My personal view is it could place YOU the client at risk.