How did year end reviews go for your team?  Did you anticipate the asks from the team? What does that mean for this coming year’s profitability?  Because accountants are standing up and asking to be valued!

How much do accounting firms really stand in their own way when it comes to the path to awesome?  A lot, is the answer.  How much pain do we really need to be in to recognise that the time to change traditional practices is NOW?


A huge thanks to Change GPS for their support on this episode.
Legendary frontline accounting apps that transform your practice and your working life.

Show Notes:

Becc 

Spriggy Helps your kids learn about money.

https://www.spriggy.com.au/

Best on Ground

PWC appoints first ever chair WOMAN!

https://www.afr.com/companies/professional-services/pwc-s-first-chairwoman-pledges-to-focus-on-firm-s-culture-20220714-p5b1qf

Greater adoption of AI is critical, like, right now.

https://www.afr.com/work-and-careers/education/the-ai-challenge-must-start-in-schools-20220624-p5awbn

https://dayofaiaustralia.com/

Worst on Ground

PWC’s chair appointment was super critical - especially given the concurrent scandal around another PWC partner (who has since resigned) busted for men-only gatherings (including strip club outings) where allegedly the five most attractive women in the firm were rated.     https://www.afr.com/companies/professional-services/pwc-partner-accused-of-rating-female-staff-leaves-firm-20220713-p5b17l

Shaye

Accountants democratizing access to financial education is awesome - looking at you Rebecca White!

https://www.bdo.com.au/en-au/financial-education

Best on Ground

Accountants ask to be valued - payrise please!  But some firms have other ideas….. https://www.accountantsdaily.com.au/appointments/17149-accountants-chase-pay-rises-above-6

Worst on Ground

Women’s participation in the workforce is at an all time high - but the accounting industry still snoozes on access to this key talent pool.

https://www.smh.com.au/business/the-economy/silver-linings-the-surprising-way-the-pandemic-has-helped-women-at-work-20220717-p5b26z.html

Shout out to amazing gender equity aly Peter McCarthy - love your work!

How did year end reviews go for your team?  Did you anticipate the asks from the team? What does that mean for this coming year’s profitability?  Because accountants are standing up and asking to be valued!
How much do accounting firms really stand in their own way when it comes to the path to awesome?  A lot, is the answer.  How much pain do we really need to be in to recognise that the time to change traditional practices is NOW? A huge thanks to <a href="https://changegps.com.au/">Change GPS for their support on this episode.</a> Legendary frontline accounting apps that transform your practice and your working life. Show Notes: Becc 
Spriggy Helps your kids learn about money.
<a href="https://www.spriggy.com.au/">https://www.spriggy.com.au/</a>
Best on Ground
PWC appoints first ever chair WOMAN!
<a href="https://www.afr.com/companies/professional-services/pwc-s-first-chairwoman-pledges-to-focus-on-firm-s-culture-20220714-p5b1qf">https://www.afr.com/companies/professional-services/pwc-s-first-chairwoman-pledges-to-focus-on-firm-s-culture-20220714-p5b1qf</a>
Greater adoption of AI is critical, like, right now.
<a href="https://www.afr.com/work-and-careers/education/the-ai-challenge-must-start-in-schools-20220624-p5awbn">https://www.afr.com/work-and-careers/education/the-ai-challenge-must-start-in-schools-20220624-p5awbn</a>
<a href="https://dayofaiaustralia.com/">https://dayofaiaustralia.com/</a>
Worst on Ground
PWC’s chair appointment was super critical - especially given the concurrent scandal around another PWC partner (who has since resigned) busted for men-only gatherings (including strip club outings) where allegedly the five most attractive women in the firm were rated.     <a href="https://www.afr.com/companies/professional-services/pwc-partner-accused-of-rating-female-staff-leaves-firm-20220713-p5b17l">https://www.afr.com/companies/professional-services/pwc-partner-accused-of-rating-female-staff-leaves-firm-20220713-p5b17l</a> 
Shaye
Accountants democratizing access to financial education is awesome - looking at you<a href="https://www.linkedin.com/in/rebecca--white/"> Rebecca White</a>!
<a href="https://www.bdo.com.au/en-au/financial-education">https://www.bdo.com.au/en-au/financial-education</a> 
Best on Ground
Accountants ask to be valued - payrise please!  But some firms have other ideas….. <a href="https://www.accountantsdaily.com.au/appointments/17149-accountants-chase-pay-rises-above-6">https://www.accountantsdaily.com.au/appointments/17149-accountants-chase-pay-rises-above-6</a>
Worst on Ground
Women’s participation in the workforce is at an all time high - but the accounting industry still snoozes on access to this key talent pool.
<a href="https://www.smh.com.au/business/the-economy/silver-linings-the-surprising-way-the-pandemic-has-helped-women-at-work-20220717-p5b26z.html">https://www.smh.com.au/business/the-economy/silver-linings-the-surprising-way-the-pandemic-has-helped-women-at-work-20220717-p5b26z.html</a>
Shout out to amazing gender equity aly <a href="https://www.linkedin.com/in/peterjmcarthy/">Peter McCarthy</a> - love your work!

The accounting industry is at a cross roads. We need practitioners and software executives who care enough stand up for what they think is right.

As the institutions we rely on continue their failure to listen - From the Trenches is proud to provide the voices from those who want to be heard.

Becc and Shaye are 2 more plucky Chartered Accountants who will bring you the real stories ‘from the trenches’.

This no holes barred, feisty, yet humorous take on the Accounting landscape will be entertaining while sending a message to the scaremongers, that the FAKE NEWS must end. By following the trenches podcast formulae, Bec and Shaye will deliver rapid value straight to your earphones. 

About the Hosts

Rebecca Mihalic is an Australian Registered Tax Agent and a Chartered Accountants Australian & New Zealand member. Rebecca was a founding partner of Aptus Accounting & Advisory, a cloud-based accounting firm and the winner of ‘Innovator of the year’ at the 2018 Australian Accounting Awards for their use of technology to support clients & the firm’s growth.  In 2019 Aptus joined businessDEPOT to expand the firm's service offerings to their clients and Rebecca now leads their Sydney based operations. Rebecca has earned a reputation for her leadership in the accounting industry, winning ‘Thought leader of the year’ in the 2021 Australian Accounting Awards.



Shaye Thyer is an outside-of-any-box CA with a diverse and notably non-traditional accounting career to date in Australia. Recently she was responsible for creating a future-fit accounting division for a large national firm delivering a premium client experience. Using technology to optimise internal efficiencies, data to power client insights, training to transform the team, and scalable frameworks to amplify the huge depth of expertise withing the firm. Shaye is the Head of Accounting at Intuit 

The accounting industry is at a cross roads. We need practitioners and software executives who care enough stand up for what they think is right.
As the institutions we rely on continue their failure to listen - From the Trenches is proud to provide the voices from those who want to be heard.
Becc and Shaye are 2 more plucky Chartered Accountants who will bring you the real stories ‘from the trenches’.
This no holes barred, feisty, yet humorous take on the Accounting landscape will be entertaining while sending a message to the scaremongers, that the FAKE NEWS must end. By following the trenches podcast formulae, Bec and Shaye will deliver rapid value straight to your earphones. 
About the Hosts
Rebecca Mihalic is an Australian Registered Tax Agent and a Chartered Accountants Australian &amp; New Zealand member. Rebecca was a founding partner of Aptus Accounting &amp; Advisory, a cloud-based accounting firm and the winner of ‘Innovator of the year’ at the 2018 Australian Accounting Awards for their use of technology to support clients &amp; the firm’s growth.  In 2019 Aptus joined businessDEPOT to expand the firm's service offerings to their clients and Rebecca now leads their Sydney based operations. Rebecca has earned a reputation for her leadership in the accounting industry, winning ‘Thought leader of the year’ in the 2021 Australian Accounting Awards.
 
Shaye Thyer is an outside-of-any-box CA with a diverse and notably non-traditional accounting career to date in Australia. Recently she was responsible for creating a future-fit accounting division for a large national firm delivering a premium client experience. Using technology to optimise internal efficiencies, data to power client insights, training to transform the team, and scalable frameworks to amplify the huge depth of expertise withing the firm. Shaye is the Head of Accounting at Intuit

Reality Cheque with Shaye and Becc

The W in PWC | Pay Rise Risks | A Eye

Welcome to Episode 9 of Reality Cheque

Its finally here, the annual CA ANZ Remuneration Report is out and you can find it here: 

For those who aren't across this report, it is pulled together from data obtained via a voluntary survey completed by CA’s in Australian and New Zealand.

Before we go further, a big thank you to episode sponsor Aider for supporting this episode.

Aider helps you run a proactive firm by providing you the tools to offer advisory services to all of your clients. Their AI product automatically scans for GST errors which in turn means you're working with clean data files to offer better advisory services.

Back to the show..

This is not just public practice focused, including those working in commerce, government, not for profits, etc. 

In this podcast Shaye kicks off by touching on the report highlights: 
70% increase in respondents from last year, with 7700 CAs participating.(Shoutout to Dave & Paul for helping to promote more activity across the membership base. https://www.fromthetrenches.com.au/podcast/2022/10/24/action-required-does-caanz-deserve-a-pay-rise)
The split was still fairly similar between men and women respondents from 2021. 
Total remuneration has grown by 11%
Gender Pay Gap has reduced 4%



Then Shaye & Becc dig further into the data:

Comparing Data & Assumptions:
Hard to compare to last year as the data presented is not apples for apples.

Who actually got paid more:
Becc questions if the pay increase really is because the accounting profession is seen to be attractive or is it just representative of the desperate fight for talent
The entry level salaries have increased in public practice with a decrease in salaries for those who have been around for 20+ years. 
Is this because we need to pay our teams more, but aren't raising our prices enough?
How long is this redistribution of wealth sustainable for? 
Shaye compares to what's happening in the States where the partners have increased their income greatly in the last year, but not so for their staff



Compliance is not dead:
The firms that leant into compliance and charged for it in the last few years would have done really well in the last few years. 
But how many below mid-tier charged well for all that grant work?

Gender Pay Gap:
Shaye talks through whether the work on closing the gender pay gap has been good enough (spoiler alert - both Becc & Shaye say no)
Becc surprised that transparency was more important than flexible work by the respondents to help the pay gap
Why don’t people believe there is a gender pay gap when the data proves different?
Becc & Shaye discuss what they believe will actually help close this gap faster

What keeps us motivated:
Across the board and unrelated to the gender pay gap, men & women across Australia & New Zealand across all ages note flexible workplaces as the most important factor beyond remuneration

What would we like to see:
More like for like comparatives in the report
One page analysis that breaks up just whats happening in the profession, more granularity needed.
More analysis of the gender pay gap and understanding of the data
CA ANZ, CPA, IPA get together on the gender pay gap like they did on mental health
A redo of the CA ANZ Narrowing the Gender Playbook that has more teeth https://www.charteredaccountantsanz.com/news-and-analysis/news/accountants-urged-to-act-on-uncomfortable-numbers?cid=E~D~GPG_Launch~CAANZ~202202



Captain Obvious:

What gets measured gets done

Welcome to Episode 9 of Reality Cheque
Its finally here, the annual CA ANZ <a href="https://www.charteredaccountantsanz.com/news-and-analysis/news/remuneration-survey-provides-critical-insights-for-accountants-during-skills-shortage-crisis#:~:text=2022%20Member%20Remuneration%20Survey&amp;text=The%20survey%20also%20suggests%20the,cent%20to%2030%20per%20cent.">Remuneration Report is out and you can find it here</a>: 
For those who aren't across this report, it is pulled together from data obtained via a voluntary survey completed by CA’s in Australian and New Zealand.
Before we go further, a big thank you to episode sponsor <a href="https://www.aider.ai/?utm_source=The_Trenches_Campaign&amp;utm_medium=Awareness&amp;utm_content=&amp;utm_campaign=From_The_Trenches_Campaign&amp;utm_term=Oct_Nov_Feb">Aider for supporting this episode</a>.
Aider helps you run a proactive firm by providing you the tools to offer advisory services to all of your clients. Their AI product automatically scans for GST errors which in turn means you're working with clean data files to offer better advisory services. Back to the show.. This is not just public practice focused, including those working in commerce, government, not for profits, etc. 
In this podcast Shaye kicks off by touching on the report highlights: 
<ul>
<li aria-level="1">70% increase in respondents from last year, with 7700 CAs participating.(Shoutout to Dave &amp; Paul for helping to promote more activity across the membership base. <a href="https://www.fromthetrenches.com.au/podcast/2022/10/24/action-required-does-caanz-deserve-a-pay-rise">https://www.fromthetrenches.com.au/podcast/2022/10/24/action-required-does-caanz-deserve-a-pay-rise</a>)</li>
<li aria-level="1">The split was still fairly similar between men and women respondents from 2021. </li>
<li aria-level="1">Total remuneration has grown by 11%</li>
<li aria-level="1">Gender Pay Gap has reduced 4% </li>
</ul>
Then Shaye &amp; Becc dig further into the data:
Comparing Data &amp; Assumptions:
<ul>
<li aria-level="1">Hard to compare to last year as the data presented is not apples for apples.</li>
</ul>
Who actually got paid more:
<ul>
<li aria-level="1">Becc questions if the pay increase really is because the accounting profession is seen to be attractive or is it just representative of the desperate fight for talent</li>
<li aria-level="1">The entry level salaries have increased in public practice with a decrease in salaries for those who have been around for 20+ years. </li>
<ul>
<li aria-level="2">Is this because we need to pay our teams more, but aren't raising our prices enough?</li>
<li aria-level="2">How long is this redistribution of wealth sustainable for? </li>
</ul>
<li aria-level="1">Shaye compares to what's happening in the States where the partners have increased their income greatly in the last year, but not so for their staff </li>
</ul>
Compliance is not dead:
<ul>
<li aria-level="1">The firms that leant into compliance and charged for it in the last few years would have done really well in the last few years. </li>
<li aria-level="1">But how many below mid-tier charged well for all that grant work?</li>
</ul>
Gender Pay Gap:
<ul>
<li aria-level="1">Shaye talks through whether the work on closing the gender pay gap has been good enough (spoiler alert - both Becc &amp; Shaye say no)</li>
<li aria-level="1">Becc surprised that transparency was more important than flexible work by the respondents to help the pay gap</li>
<li aria-level="1">Why don’t people believe there is a gender pay gap when the data proves different?</li>
<li aria-level="1">Becc &amp; Shaye discuss what they believe will actually help close this gap faster</li>
</ul>
What keeps us motivated:
<ul>
<li aria-level="1">Across the board and unrelated to the gender pay gap, men &amp; women across Australia &amp; New Zealand across all ages note flexible workplaces as the most important factor beyond remuneration</li>
</ul>
What would we like to see:
<ul>
<li aria-level="1">More like for like comparatives in the report</li>
<li aria-level="1">One page analysis that breaks up just whats happening in the profession, more granularity needed.</li>
<li aria-level="1">More analysis of the gender pay gap and understanding of the data</li>
<li aria-level="1">CA ANZ, CPA, IPA get together on the gender pay gap like they did on mental health</li>
<li aria-level="1">A redo of the CA ANZ Narrowing the Gender Playbook that has more teeth <a href="https://www.charteredaccountantsanz.com/news-and-analysis/news/accountants-urged-to-act-on-uncomfortable-numbers?cid=E~D~GPG_Launch~CAANZ~202202">https://www.charteredaccountantsanz.com/news-and-analysis/news/accountants-urged-to-act-on-uncomfortable-numbers?cid=E~D~GPG_Launch~CAANZ~202202</a> </li>
</ul>
 
Captain Obvious:
What gets measured gets done

What are you getting paid? CA ANZ Renumeration Report 2022

Welcome to Episode 8 of Reality Cheque.

This episode is brought to you by Access Offshoring.
Are you struggling to manage capacity in your firm? Missing client demands? Finding it hard to hire the right talent? 

Speak to the team at Access Offshoring about how you can improve your profit, qualify of life and look like a rockstar with your clients. 

Episode 8 | Show Notes

The accounting industry is getting some face to face love again with Conferences and events are back after all those covid lockdowns. This has menat Shaye & Becc have been able to record this podcast in the same room together!

As with anything there is good, bad and ugly with events

The Good stuff
Becc & Shaye met at a conference - Xerocon 2019 - where would we be if this never happened
After a few years trapped at home the ability to get out and see each other again has been great
Live networking is back on the agenda
What makes good content: 
Practical information that you can take back to your firm
Tech demonstrations that are played out in real life scenarios so you can see how it really works in practice
Topical updates and the things you need to know - real CPE - from great and engaging presenters
IT'S ALL ABOUT THE DELIVERY

The Bad stuff
Boring tech demonstrations
Technical updates delivered poorly
Bigger events struggling to deliver something that caters to different streams of attendees
Late delivery of agendas/themes/topics impacts attendee expectations
Multi-days are hard to focus on the content and stay engaged for time poor accountants
Has the way we consume information changed?

The Ugly stuff
Poor behaviour at events
Shaye & Becc own up to overindulgence in the past - is this still ok? Was it ever ok? It's still a work event.
Navigating sexual harrassment not just at events, but also in the workplace
IMPORTANT UPDATE: Since recording this podcast the Australian Parliament has passed new legislation to bring in seven of the recommendations from the Respect@work report into sexual harassment. You can find more details here: https://www.abc.net.au/news/2022-11-28/respect-at-work-sexual-arassment-rules-pass-parliament/101706978

#CaptainObvious

Welcome to Episode 8 of Reality Cheque. This episode is brought to you by <a href="https://accessoffshoring.com.au/">Access Offshoring.</a> Are you struggling to manage capacity in your firm? Missing client demands? Finding it hard to hire the right talent?  <a href="https://accessoffshoring.com.au/">Speak to the team at Access Offshoring</a> about how you can improve your profit, qualify of life and look like a rockstar with your clients.  Episode 8 | Show Notes
The accounting industry is getting some face to face love again with Conferences and events are back after all those covid lockdowns. This has menat Shaye &amp; Becc have been able to record this podcast in the same room together!
As with anything there is good, bad and ugly with events
The Good stuff
<ul>
<li aria-level="1">Becc &amp; Shaye met at a conference - Xerocon 2019 - where would we be if this never happened</li>
<li aria-level="1">After a few years trapped at home the ability to get out and see each other again has been great</li>
<li aria-level="1">Live networking is back on the agenda</li>
<li aria-level="1">What makes good content: </li>
<ul>
<li aria-level="2">Practical information that you can take back to your firm</li>
<li aria-level="2">Tech demonstrations that are played out in real life scenarios so you can see how it really works in practice</li>
<li aria-level="2">Topical updates and the things you need to know - real CPE - from great and engaging presenters</li>
<li aria-level="2">IT'S ALL ABOUT THE DELIVERY</li>
</ul>
</ul>
The Bad stuff
<ul>
<li aria-level="1">Boring tech demonstrations</li>
<li aria-level="1">Technical updates delivered poorly</li>
<li aria-level="1">Bigger events struggling to deliver something that caters to different streams of attendees</li>
<li aria-level="1">Late delivery of agendas/themes/topics impacts attendee expectations</li>
<li aria-level="1">Multi-days are hard to focus on the content and stay engaged for time poor accountants</li>
<ul>
<li aria-level="2">Has the way we consume information changed?</li>
</ul>
</ul>
The Ugly stuff
<ul>
<li aria-level="1">Poor behaviour at events</li>
<li aria-level="1">Shaye &amp; Becc own up to overindulgence in the past - is this still ok? Was it ever ok? It's still a work event.</li>
<li aria-level="1">Navigating sexual harrassment not just at events, but also in the workplace</li>
<li aria-level="1">IMPORTANT UPDATE: Since recording this podcast the Australian Parliament has passed new legislation to bring in seven of the recommendations from the Respect@work report into sexual harassment. You can find more details here: <a href="https://www.abc.net.au/news/2022-11-28/respect-at-work-sexual-arassment-rules-pass-parliament/101706978">https://www.abc.net.au/news/2022-11-28/respect-at-work-sexual-arassment-rules-pass-parliament/101706978</a></li>
</ul>
#CaptainObvious

The GBU of Accounting Events | Sexual Harassment At Work

Welcome to episode 7 of Reality Cheque.

This episode is supported by Aider: Helping you to scale advisory services across your entire practice. 

Find out more about Aider's innovative platform here.



Show Notes from Episode 7

Attracting and retaining talent - controlling what we can control

AccountantsDaily Strategy Day
Believe or not - the Great Resignation

Becc says FACT - but not driven by Covid. Accounting is far from sexy, especially right now. Shaye says FACT - the great resignation f-this!

A generation of feeling undervalued looks to the greener grass outside the industry

Dear tech friends - please don't steal all the accountants or there might be none left ;)

How do we resolve  - call it moving past trauma, or a need to unlearn ‘the way we’ve always done things’

Have we forgotten to invest in accelerating our onshore teams when building our offshore capacity?

BusinessDepot investing heavily in part time under-grad positions to nurture love for our profession in our next generation of firm owners.  

Unlearning that they need to do what we did - work full time and try to finish uni full time and be in overwhelm and burnout from day 1 in the profession.

Treating adults as adults - trust them to work flexibly from day 1

Tara Fitness LinkedIn Post

Definitely tricky with undergrads and those that have not yet leaned to organise themselves in a professional setting. 

It's our obligation to invest in growing these capabilities with them, rather than sending them out into the wild to figure it out themselves.

Ensuring we give credit where it is due - reward and recognise genuinely

Channelling Pink - I’m not here for your entertainment…. Nor am I here to make you look good.

Who else resonates with the feeling    “Always the scapegoat, never the s/hero”......

Are we really lacking the capability and skills?

Is it technical skills, or is it more about EQ and how to regulate wellness?

Can we pledge to be a good human leading good humans?

Becc shares the amazing top down leadership culture at Business Depot and 

Shaye announces that there may be a glimmer of hope for a future return to practice for her…

#CaptainObvious

Taxpayer gets massive ATO penalties for taking tax advice from someone who is not a 

registered tax agent.  https://www.accountantsdaily.com.au/regulation/17739-why-clients-need-a-warning-over-fringe-tax-advice

Welcome to episode 7 of Reality Cheque.
This episode is supported by Aider: Helping you to scale advisory services across your entire practice.  <a href="https://www.aider.ai/?utm_source=The_Trenches_Campaign&amp;utm_medium=Awareness&amp;utm_content=&amp;utm_campaign=From_The_Trenches_Campaign&amp;utm_term=Oct_Nov_Feb">Find out more about Aider's innovative platform here.</a>
 
Show Notes from Episode 7
Attracting and retaining talent - controlling what we can control
<a href="https://www.accountantsdaily.com.au/strategy-day/">AccountantsDaily Strategy Day</a>
<ul>
<li>Believe or not - the Great Resignation</li>
</ul>
Becc says FACT - but not driven by Covid. Accounting is far from sexy, especially right now. Shaye says FACT - the great resignation f-this!
A generation of feeling undervalued looks to the greener grass outside the industry
Dear tech friends - please don't steal all the accountants or there might be none left ;)
How do we resolve  - call it moving past trauma, or a need to unlearn ‘the way we’ve always done things’
Have we forgotten to invest in accelerating our onshore teams when building our offshore capacity?
BusinessDepot investing heavily in part time under-grad positions to nurture love for our profession in our next generation of firm owners.  Unlearning that they need to do what we did - work full time and try to finish uni full time and be in overwhelm and burnout from day 1 in the profession.
Treating adults as adults - trust them to work flexibly from day 1
<a href="https://www.linkedin.com/posts/tarafitness27_introvertagency-employeebenefits-employeeappreciation-activity-6991178455845400576-iDCN?utm_source=share&amp;utm_medium=member_desktop">Tara Fitness LinkedIn Post</a> 
Definitely tricky with undergrads and those that have not yet leaned to organise themselves in a professional setting. It's our obligation to invest in growing these capabilities with them, rather than sending them out into the wild to figure it out themselves.
Ensuring we give credit where it is due - reward and recognise genuinely
Channelling Pink - I’m not here for your entertainment…. Nor am I here to make you look good.
Who else resonates with the feeling    “Always the scapegoat, never the s/hero”......
Are we really lacking the capability and skills?
Is it technical skills, or is it more about EQ and how to regulate wellness?
Can we pledge to be a good human leading good humans?
Becc shares the amazing top down leadership culture at Business Depot and 
Shaye announces that there may be a glimmer of hope for a future return to practice for her…
#CaptainObvious
Taxpayer gets massive ATO penalties for taking tax advice from someone who is not a 
registered tax agent.  <a href="https://www.accountantsdaily.com.au/regulation/17739-why-clients-need-a-warning-over-fringe-tax-advice">https://www.accountantsdaily.com.au/regulation/17739-why-clients-need-a-warning-over-fringe-tax-advice</a>

The W in PWC | Pay Rise Risks | A Eye

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