Outsourcing is not new. It derives from the economic principle of comparative advantage.
There are many different ways to outsource and a number of accountants will already be outsourcing onshore without being aware of it, in the form of contracting out work.
Outsourcing offers opportunities, primarily in:
- allowing businesses to perform higher value add activities
- access to skilled expertise.
Done well, outsourcing presents opportunities for businesses to be more effective and efficient. However, outsourcing is not for everyone, and the solution you need today may not be the same solution you need tomorrow.
Outsourcing: Opportunity or threat? (PDF)
CPA Australia's guide to outsourced services will assist you and your clients to assess the suitability of an outsourcing arrangement for your business requirements, including extensive checklists as well as peer and supplier case studies.
Professional practice for tax practitioners
Learn about tax practitioner obligations in regards to offshoring, outsourcing and reasonable care in this complimentary webinar recording from the Tax Practitioners Board.