Why accountants are conformists rather than activists? (part two)

Here is another theory why accountants are conformists. “most accountants are conformists because the accounting industry is a conformist industry”. (pause for laughter)

Dah! (you say) Of course the industry is conformist!
Yes it is… but let me explain my point from a different angle.

Several years ago Enron, and other multi billion dollar accounting scandals, exposed a virtual tsunami of accounting and reporting conflicts. Consequently the government implemented there own tsunami of new reporting requirements. Over the last several years accounting firms all across Canada were struggling and reorganizing to implement the new requirements. I heard it said that if a firm had 100 clients they can now only serve 75 of them, due to the new restrictions. Firms have been adding staff, combining firms and releasing clients frantically trying to conform. Their energy has been placed in conforming and not in being a client activist. With regards to service, unfortunately too many truckers are falling through the cracks.

For those who think the “change” may be over may I inform you its only BEGUN! With the advent of IFRS (International Financial Reporting Standards) Canadian accountants will be consumed by many more rigorous changes. IFRS represents one of the most dramatic changes the accounting profession has witnessed in a long time, maybe even ever! The difference between IFRS and Canadian GAAP are substantial and is scheduled for implementation in 2011. The “conformist industry” is about to become the most rigorously regulated in debit and credit history. Many truckers will be standing at the dock waving good buy to quality service. It does, however, represent an opportunity for those accountants who wish to specialize in lease/owner operators, construction contractors or some other niche.

It seems the only logical alternative to a highly regulated, wide sweeping, information intensive industry.

Vivi La Avant-garde!