The art of advising

In a survey of Australian accountants, what percentage of respondents agreed that clients value their advice, mentoring and guidance?

68 percent

The survey did not ask this question

84 percent

34 percent

According to PolicyBee's survey, how much has bad advice cost UK microbusinesses?

26 billion pounds

13 million pounds

13 billion pounds

1.3 billion pounds

According to Preply, what is responsible for 90 percent of business misunderstandings?

Misinformation on a company's website

None of the other answers is correct

Email

Mishearing information given in a phone call

What factor is encouraging many accountants to move into the advisory space?

There is no one factor responsible for the move

The emergence of AI and the increasing role of automation

It is less stressful than working in areas such as audit

None of the other answers is correct

What is a good starting point for understanding what advisory is?

Considering the financial benefits to your business

Being aware of avoiding reputational damage to your business

All of the other answers are correct

Knowing what good advice-giving looks like

What advisory trait does US attorney William Lee look for in colleagues?

Someone who recognises that every situation is different

None of the other answers is correct

Someone who considers the reputation of the firm above all other factors

Someone who recognises that the underlying issues in every situation are the same

How can businesses ensure they maintain a good advisory pipeline?

By using external experts to provide training

By recruiting more experienced professionals

By mentoring less experienced professionals

By specialising in advisory rather than other areas of expertise

Which of the following statements is true? Statement 1, before meeting a client, advisers must ensure they have an answer for every issue raised. Statement 2, before meeting a client, it is essential to gather as much information as possible.

Both statements are correct

Neither statement is correct

Statement 1 is correct

Statement 2 is correct

In delivering advice to clients, which format is most effective for clients?

A simple bullet-point list

Both a detailed step-by-step plan and a simple bullet-point list

A detailed step-by-step plan

It depends on the needs of the client

What step should advisers take to protect themselves against being accused of giving wrong or inadequate advice?

All of the other answers are correct

Avoid giving advice based on previous cases they have dealt with

Avoid providing advice in areas where they lack knowledge

Issue clear letters of engagement at the outset

In a survey of Australian accountants, what percentage of respondents agreed that clients value their advice, mentoring and guidance?

According to PolicyBee's survey, how much has bad advice cost UK microbusinesses?

According to Preply, what is responsible for 90 percent of business misunderstandings?

What factor is encouraging many accountants to move into the advisory space?

What is a good starting point for understanding what advisory is?

What advisory trait does US attorney William Lee look for in colleagues?

How can businesses ensure they maintain a good advisory pipeline?

Which of the following statements is true? Statement 1, before meeting a client, advisers must ensure they have an answer for every issue raised. Statement 2, before meeting a client, it is essential to gather as much information as possible.

In delivering advice to clients, which format is most effective for clients?

What step should advisers take to protect themselves against being accused of giving wrong or inadequate advice?

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