MYOB UK sold to Wolters Kluwer
March 31, 2008
Surprise, surprise: this turned up in my email earlier today:
Good Afternoon
Earlier today our parent company, MYOB Limited signed an agreement for the sale of its UK Accountants Division and Ireland operations to Wolters Kluwer UK.
This change is part of MYOB Limited’s strategy of refocussing its efforts on further enhancing its strong position in the Asia-Pacific region.
Wolters Kluwer has publicly stated that the acquisition of these MYOB business units will enhance its ability to continue to provide market-leading professional practice software and support services.
By bringing together the strengths and expertise of Wolters Kluwer’s subsidiary, CCH, and MYOB UK’s Accountants Division, accountancy firms will enjoy access to the most experienced providers of software and services, covering tax, audit and accounts production, insolvency, practice management and document management.
I am delighted to say that I and the rest of our MYOB UK Accountants Division team will be transferring to Wolters Kluwer in our current roles. This will ensure that we can continue to provide you with ongoing support and product updates, delivered by the team you know.
This change in ownership will be completed over the next 2 weeks. After that time you will hear from CCH/MYOB UK as they welcome you as a valued client.
It is very much business as usual at MYOB UK. Should you have any further questions please contact your MYOB client manager, or feel free to contact me on my direct dial below, or on my mobile 07768 190019.
We appreciate the loyalty you have shown to MYOB in the past. We are working closely with CCH to ensure a smooth transition in ownership.
Is the time right for wholesale change in audit?
March 31, 2008
Prem Sikka’s argument that:
…the very model of company audits is flawed. It permits company directors to hire and remunerate auditors, albeit with shareholders rubber-stamping their decisions. Under the model, profit-seeking auditing firms are expected to regulate capitalist enterprises. As no one can make a profit without appeasing or accommodating clients, auditors can never be independent of the client companies or their directors.
is logically correct but will not lead to change any time soon unless there is a wholesale re-writing of the rule book under which auditors are appointed, remunerated and operate.
Prem’s argument is not new but perhaps he thinks the time is right to canvass for change? He believes the way the Audit Commission operates works better but does it? How often have we seen the Auditor General be critical of no less than HMRC and yet little changes.
Changes in the way auditors are appointed and remunerated only works if it leads to a higher quality standards. Yet as we already know from Francine McKenna, the problem is as much to do with audit firms’ technical ability to understand, parse and report upon complexity in an increasingly complex business environment. Simply changing the paymaster is not enough.
10 signs you need a new accounting system
March 31, 2008
I’ve shamelessly ripped this title off from a great blog post by Bill Kennedy along with his top 10 signs:
10. The service technician keeps threatening to retire
9. “Reconciliation” is your middle name
8. You ask for “proficiency in DOS” when hiring staff
7. When calling Support you hear laughter in the background
6. Salesmen no longer call you about upgrades
5. You have to go for coffee whenever you click on “Post”
4. Your system came on diskettes
3. The last person to know the setup password retired to Florida
2. Nobody understands the reportsand the top sign you need a new accounting system is . . .
1. Your subledgers need counseling for “irreconcilable differences”
Given that we only change accounting systems once every 5-7-10 years then he’s pretty much bang on the money. But what I really like is the way he cleverly parses this into a discussion about switching from Quickbooks to Microsoft Dynamics. None of the usual ‘product X is crap, ours is gorgeous stuff’ at all. Far from it. I’d love to see more vendor representatives take this approach in marketing their wares.
Tags: microsoft dynamics, quickbooks
My del.icio.us bookmarks for March 31st
March 31, 2008
These are my del.icio.us bookmarks for March 31st:
- The worst financial report ever? - And the UK thinks it has problems with auditing its own stuff? Check this from the US. Mind boggling.
- Overtime Pay for PwC Audit Associates? - Careers - CFO.com - This time in California - they're obviously taking their cue from their Canadian counterparts
- QuickBooks 2006 and 2008 not compatible after recent updates - Why am I not surprised. Of course you don't get this issue with online services.
- Small business feels the recession - Maybe now's the time to be thinking about how best to organize accounting online?
- Krupo: Should I spend all my weekends studying? - Good for this guy who knows how to get work life balance somewhere near right.
- Today I am a CA / Neil McIntyre, CA - Congratulations to Neil - it's been a long road but the journey's been worth it
