Climbing the advisory curve

Multiple-choice questions. In order to be awarded CPD units you must answer the following five random questions correctly. If you fail the test, please reread the article before attempting the questions again.

What is driving SMPs in South Asia to broaden their role? 

SMEs becoming more sophisticated

Increasing automation

Increasing regulatory complexity

All of the other answers

In what way is automation affecting compliance services?

It is changing their economic model

It is reducing accuracy

It is removing the need for accountants

It is making them more expensive

What type of services are firms beginning to offer beyond compliance?

Tax planning

Internal controls review

All of the other answers

Financial advisory

What can be a major barrier in the shift towards advisory services?

Outdated information systems

Too many clients

Lack of specialist knowledge

Heavy compliance workloads

How do clients generally view accountants?

As strategic business partners

All of the other answers

As investment advisers

As compliance service providers

What distinguishes trusted business partners from compliance providers?

They tend to work in larger firms

Ability to shape future decisions with proactive insights 

Ability to offer lower prices

Ability to provide faster reporting

According to Wolters Kluwer’s report, what percentage of firms globally now offer advisory services?

87 percent

68 percent

93 percent

76 percent

According to Wolters Kluwer’s report, what percentage of clients globally are asking firms to provide strategic business advice?

87 percent

93 percent

76 percent

35 percent

According to Wolters Kluwer’s report, what percentage of firms globally are using client data to tailor advisory opportunities?

35 percent

93 percent

87 percent

41 percent

According to Wolters Kluwer’s report, what percentage of high-growth firms globally reported better-than-expected results from AI in improving client guidance?

35 percent

41 percent

The figure was not provided in the article

87 percent

1 Unit

Climbing the advisory curve

What is driving SMPs in South Asia to broaden their role?

In what way is automation affecting compliance services?

What type of services are firms beginning to offer beyond compliance?

What can be a major barrier in the shift towards advisory services?

How do clients generally view accountants?

What distinguishes trusted business partners from compliance providers?

According to Wolters Kluwer’s report, what percentage of firms globally now offer advisory services?

According to Wolters Kluwer’s report, what percentage of clients globally are asking firms to provide strategic business advice?

According to Wolters Kluwer’s report, what percentage of firms globally are using client data to tailor advisory opportunities?

According to Wolters Kluwer’s report, what percentage of high-growth firms globally reported better-than-expected results from AI in improving client guidance?

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