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Accountants and tax practitioners to become business advisers.

The increasing influence of technology is changing the shape and structure of companies and the way that wealth is generated. Becoming an entrepreneur is easier than ever and new businesses, no longer confined by geographical boundaries, have unlimited potential for growth if they get their business models, products and markets right.

A corollary to this is the changing demands and challenges to which these businesses are exposed and the advice they require to negotiate hurdles on the way to success. Historically, accountants have been among the most traditional professional advisers, working around a framework of laws and regulations to compile company accounts or assess tax liabilities. The accepted profile is one of a specialist, limited to aggregating and assessing figures rather than providing strategic advice to a client.

Changing role

That view is changing rapidly, and the most forward-thinking accountants are pouring significant resources into rebranding themselves as strategic advisers and business consultants, as opposed to simply offering ...