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What is the Future of Accounting & Role of an Accountant?

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What is the Future of Accounting & Role of an Accountant?

Accounting is completely dependent on technology these days. Technology plays a vital role in today’s changing business environment. And there is no doubt accounting has been part of this. Over the past few years, there have been significant changes in accounting world. Yes, accounting wasn’t easier earlier than what we are doing these days with just one click.

Technology such as accounting cloud software has changed the view of accountants in terms of doing accounting. However, the fact it relates to accounting is that it is mere a tool, the medium which gives a shape to what the fundamental purpose of accounting is and nothing more.

Technology is merely a tool

Technology assist in creating reports on past performance in a most cost effective manner. In determining what the future of accounting really is, we have to think “What do you do after you get a financial report?” Of course, it will show the performance of the business you are in. But, importantly it will reflect your “business decisions” that you have made during the year. Suppose you have made a loss in the year, you can directly correlate it with your bad “business decisions”.

Technology helps the accountant in creating this record now; more efficiently, faster, and at minimal cost. Thanks to automation, user friendly cloud based systems, and connectable databases. Once things are entered into databases, the software makes the data into records. This has reduced paperwork and risk of losing data in any circumstances.

The Role of Accountant

The traditional role of the accountant was to prepare financial reports “After the fact” and ensure everything is under required compliance. Based on your financial report and his/her ability to understand your decisions, your accountant will help you evaluate your past. And to do so, your accountant creates an accurate and reconciled record of the past.

The future role of accountant is beyond the numbers. A good accountant looks into different ways of improving your business, creating more wealth for you, securing your existing wealth, lower your taxes and much more.

To server the real purpose of accounting there was, is and will always be requirement of accountants who can help and navigate their clients in taking right future decisions based on past. A good accountant help client to understand the future consequences of their decisions.


Saurav Wadhwa is a Principal Accountant at IBBZ Accounting Limited

M Bus (TAX) PG Cert (LAW) CA CPA

Membership and Qualification:

- Masters in Professional Business Studies (Taxation) with Distinction from Auckland University of Technology

- Post Graduate Certificate in LAW, Law School at Auckland University of Technology

- Chartered Accountant(CA), New Zealand Institute of Chartered Accountants (NZICA)

- Certified Practicing Accountant(CPA), CPA Australia

- Bachelor of Commerce, Grad. Cert. in Business from Auckland University of Technology

Saurav Wadhwa

Saurav has many years of practical experience in tax & accounting services and is the co-founder of IBBZ Accounting Limited.  He is qualified both in law and accounting. Saurav has worked in various tax & accounting specialist roles for large corporates in New Zealand. He loves to work with Small Businesses.

His key focus is on:

  • Tax advisory for small and family operated businesses on a wide range of taxation issues.

  • Legitimate tax saving structures.

  • Advising on range of new business issues.

  • Ensuring business growth is attained.

  • Effective cash flow planning.

Saurav specialises in Tax Disputes resolution, Tax Relief applications, Tax Debt resolution/management, and representation in Tax Audit. Saurav can represent you in Taxation Review Authority,  in Tax Dispute Court Cases or he can represent you during Tax Audit Investigations.

Blend of skills in Tax laws and accounting, makes him perfect advisor for small businesses and individuals like you. Saurav understands how to safeguard your business from creditors risk, maximise the business growth and pay low taxes. He can be your good strategic and business partner. He is of a friendly nature and easily approachable.

Saurav understands the numbers very well. He is a qualified Chartered Accountant and registered with highest professional accounting bodies of Australia and New Zealand. He can help you to plan for the future to satisfy all your financial needs.

Consumed by a hunger for knowledge, Saurav has never stopped furthering his education or expanding his pool of knowledge. Nothing gives Saurav more satisfaction than assisting his clients to achieve their financial goals. His diligence, passion and accuracy has earned him a reputation as a reliable professional who strives to serve his clients above and beyond the call of his duties.

Saurav was nominated for the Best Accountant of the year and the Young Entrepreneur of the year, and his company IBBZ Accounting won the award of Best Small Business 2014. In 2015 Saurav won the award of Best Accountant of the Year.

In 2017 Saurav was appointed as a committee member to New Zealand Public Practice Board of CPA Australia. 

Saurav is a dedicated family man. Saurav is very fond of outdoor activities and enjoys pretty much all outdoor activities: running, bike, motorbike, snorkel, fishing, skiing etc. Saurav, is also a self-confessed workaholic, spends some of his free time thinking about his client’s affairs and forecasting their financial future.

He can be contacted on saurav@ibbz.co.nz  or 09 272 8050


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Guest Wednesday, 26 September 2018