Accountants’ in 2020 will be extremely communicative consultants with a far more intimate relationship with their clients, as accountancy becomes a more advice-based “people” profession.

According to business futurist Morris Miselowski, by 2020 the mundane donkey-work needed for tax compliance will be outsourced and accountants will become specialist financial advisors; an integral part of their clients’ thinking process.
Miselowski recently told the Australian Institute of Chartered Accountants “much of the number work will be sent to workers in the future economic powerhouses of China and India.” – The bigger US accounting firms already send up to 70 per cent of their tax compliance work offshore!
“Accounting will become a complete customer interaction industry because there will no longer be any need for clients to use them ‘to get their books done’.”
He continues that technology has brought with it data, and information – you can go to a blog and get someone else’s interpretation; but, to get wisdom, an accountant will need to be consulted. “What clients in the future will want is the wisdom of someone with specialist knowledge; at a time, and place, that is meaningful to them”.

As bank accounts, share portfolios and other financial information become connected in one space  allowing accountants to data mine and have the right information – they will advise their clients, with permission, in real time… “Accountants’ main role in the future will be in selling their interpretive wisdom. The wisdom sought will deliver different skills, different mindsets and offer different opportunities. Accountants will have to become good at interpreting information; working successfully with clients to inform them – sometimes in advance of their actions”

Is this how you see your future accountant?

Credit where credit is due, for more about Morris’s interesting views on the future
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