What we believe
The Open Ledger Partnership Manifesto sets out five principles for accountants to help their business clients navigate the opportunities and challenges of Open Data and the implications of the Consumer Data Right. The Manifesto has been developed through consultation with the Open Ledger Partnership founding members.
1
Entrust accountants with the power.
Accountants are the number one trusted advisors to small businesses (*1). It is an accountant's duty to help their (small) business clients thrive. This means helping them understand the impact of Open Data and leverage its power. Governments support that view and have nominated accountants as intermediaries enabling them to act out consumer data rights on behalf of their clients (*2).
2
Translate theory into practice.
Many discussions about Open Data at the moment either take a high-level policy view or go into the depths of defining specific standards, rules and solutions. It is equally important to drive the conversation about the actual use and concrete value for all stakeholders, including accountants. Rules and guidelines will have to be translated into clear and understandable services that benefit human beings.
3
Monetise the trend.
Open Data offers potential for accountants to design their practice of the future. It is still an untapped opportunity for accountants to unlock and create additional and chargeable value for their clients. Empowered by an attitude of innovation and enabled through use of data to drive new technologies, accountants will be able to solve specific challenges and provide new solutions, powerful conversations and value-adding services for their clients.
4
Advance accountants to drive the conversation.
To build the capability to make the best use of Open Data and leverage its potential power, it is necessary to build Open Data literacy and skills within the community. Government and industry should work together and create the necessary infrastructure to drive an engaged and transparent discussion. Accountants need to clearly understand the opportunities as well as the challenges that arise from Open Data, to enable new solutions and innovation.
5
Share knowledge and insight.
Knowledge and insights should be developed and shared within organisations as well as across the industry and stakeholders to achieve the greatest benefit. We advocate for accountants and industry professionals to share insights and best practices, develop case studies, tools and guidance and become drivers of the discussion.
The Manifesto was launched in November 2021 by the Open Ledger Partnership, an independent consortium of different stakeholders from the accounting industry, who are passionate to drive and guide the Open Data revolution for the industry.
Sources:
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The Role of SMPs in Providing Business Support to SMEs, IFAC, Sep 14, 2016 | Surveys & Reports, ISBN 978-1-60815-307-7, English
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Competition and Consumer (Consumer Data Right) Amendment (2021 Measures No. 1) Rules 2021, Australian Federal Government, dated 30 September 2021
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Founding signatories
Alexandra Harrop
Open Ledger Partnership
Godfrey Boyce
Chief Executive KPMG New Zealand
Andrew Noble
Accountant, Technologist & Futurist, LodgeIT
Carlos Chambers
CEO of Common Ledger
Spiro Paule
CEO of Findex
Thomas Paule
Director & Project Lead of Visory
Signatories
Charles Hoffman
Charles Hoffman, CPA
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Todd Flores
Spartan Capital Intelligence
You
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