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Ford Peterson Blog

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Ford Peterson Market Update

October 26, 2015

 

Ford Peterson supports Chartered Accountants Australia and New Zealand

 

We formed Ford Peterson 18 months ago with the goal of becoming the leading professional services recruitment business in Australia. To achieve this goal, we began establishing a framework that consistently delivers value to candidates and clients above and beyond managing a recruitment process.

 

In our view, the key to this is improving the quality of information available to both candidate and client, thereby helping both parties make the best possible decision for their career and business.

 

12 months ago, we set up our candidate resource centre which is a free resource for anyone to use. It includes information for effectively managing a job search, and offers everything from template CV’s and interview success guides to resignation letters.

 

More recently, we are very pleased to be continuing our support of Chartered Accountants Australia and New Zealand which allows Ford Peterson to work closely with part and newly qualified chartered accountants. This close relationship assists young accountants to access the information needed to manage their job search and career moves, before they start actively looking.

 

Crucially, this relationship also ensures our clients will continue to have access to the best possible talent in the market. In addition to supporting Chartered Accountants Australia and New Zealand Ford Peterson has a dedicated professional researching and reporting on industry trends, ensuring the quality of information we deliver will continue to be at the forefront of the industry.

 

We will be making further announcements about our new resources for candidates in the near future. Please follow Ford Peterson on LinkedIn to keep up to date.

 

NAB joins with Xero

 

National Australia Bank and cloud accounting software provider Xero have inked a new deal that allows Xero customers to receive faster and more streamlined business loan approvals. NAB and Xero customers can now file online loan inquiries to NAB straight from their Xero accounting package, with the bank tapping live, balance sheet data for approval.

 

I wrote about the value of cloud-based accounting last month, highlighting that one of the biggest benefits of cloud software is the data intelligence that enables live insights into the financial stability of businesses. As Xero’s platform extends beyond accounting and moves towards a richer and more interconnected ecosystem, accountants will be able to allocate more time in a business and financial advisory role.

 

Although NAB will pay Xero a small commission for referrals from the accounting platform to the bank, investment house Evans & Partners believe the short term financial value to Xero will be negligible. However, value lies in the creation of a stronger network, improved client retention rates, and likely value-added price increases over the medium term.

 

PwC most productive

 

Last week, the Australian Financial Review announced that, for the third year running, PwC has shown itself to be Australia’s most productive accounting partnership. In the 2014-15 financial year, each partner at PwC generated an average of $3.5 million in fees.

 

However, PwC is no longer the only Big Four accounting firm where partners generate in excess of $3 million each. KPMG also broke that barrier in 2014-15, with each of its 402 partners generating an average of $3 million in fees.

 

AFR’s annual Accounting Partnership Survey uses annual revenue divided by total number of partners as a benchmark for the productivity of accounting firms.

 

1) PWC: 492 partners - $3.52 million per partner
2) KPMG: 402 partners - $3.01 million per partner
3) EY: 461 partners - $2.8 million per partner
4) Deloitte: 632 partners - $2.11 million per partner

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