Under the Hood: Specialising in the accounting business

In this episode of Under the Hood, Accountants Daily journalist Carlos Tse is joined by Eddie Senatore, principal at Eddie Senatore Advisory and fellow at the Institute of Chartered Accountants Australia and New Zealand, to explore how accountants can move beyond traditional compliance work to specialised work, identify business risks earlier, and rethink the way they advise their clients.

Carlos and Eddie discuss the changing role of the accountant and why advisory needs to go deeper than simply analysing historical financial information. Eddie explains why traditional insolvency indicators are often lagging signs of trouble, and how understanding the business clients and their industry is key to providing proactive advice. They also explore the opportunities AI presents for the profession, the value of industry specialisation, the importance of pricing and operational efficiency, and rethinking practice structure and how accountants serve their clients. Tune in to hear more about: Why most insolvency indicators are lagging. How accountants can spot potential problems earlier. Why understanding a client's business and industry is critical to providing meaningful advisory services. How AI is changing the relationship between professional advisers and their clients. Why accountants need to rethink their practice models and focus on the areas where they can provide the most value. The importance of getting organised, understanding pricing, and improving operational efficiency.