I was reflecting on this idea the other day. The MD of a big IT software supplier was telling me how surprised he was that so many accountants had yet to pick up on the new obligations to file iXBRL tagged accounts. This will be relevant to all accounts filed from April 2011 re accounts for accounting periods ended after 31 March 2010.
It occurs to me that many accountants in practice cope very well despite putting off changes until the last possible minute. Accountants managed with the switchover to self assessment in 1997, the introduction of online filing, of quarterly instalment payments for corporation tax and so on. Indeed there have been 3 Companies Acts during my career, numerous accounting and auditing standards, Budgets and Finance Acts every year as well as pronoucements from (what is now) HMRC and so on.
And maybe that tells us why many accountants tend not to spend loads of time planning ahead in their practice. The rules and environment are constantly changing every year. Consciously or unconsciously accountants know that there are always more changes to come. Accountants are typically NOT early adopters. They know that they can adapt, learn and evolve their services to cope with anything. They always do. C’est la vie.
Agree? Disagree? I’d love to know what you think.