Mindblown: a blog about philosophy.

As AI first made waves in the finance & accounting sector a decade ago, industry experts were debating the “death by digital” crisis which would mean potential job losses, reduced growth opportunities, or complete replacement of professionals. Going into 2025 much has changed – owing mainly to a massive cultural and mindset shift in the […]

As the world of finance and accounting braces for another year of new regulations, economic change, and rapid technological advances, AICPA and CIMA have identified key trends shaping the industry this year. Our team continuously monitors these developments to keep businesses ahead. This article explores how we can leverage the major finance and accounting trends […]

Intuit QuickBooks, Dr Chris Brauer of the University of London, and the Association of Chartered Certified Accountants (ACCA) have published a joint study on the correlation between accountancy services and revenue growth across 4000 SMEs in the UK. Major statistics from the study include: UK’s SMEs lose thousands yearly from unmanaged expenses, with the primary […]

The Global Cybersecurity Index (GCI) 2024 ranked Sri Lanka as a tier-2 country in the Asia Pacific alongside China and the Philippines. The GCI, published by the International Telecommunication Union (ITU), analyses each country’s commitment to cybersecurity based on five areas: legal, technical, organisational, capacity, and cooperation measures. Sri Lanka ranked high for each metric, […]

The ATO’s quarterly SMSF statistics report has been released, showing rapid growth of the superfund sector: There are now 625,609 SMSFs in Australia, with 1,152,792 members, and their total estimated assets are at $990.4 billion. As the sector expands, the regulations continue to change, compliance is more important than ever and SMSF professionals need to […]

Offshoring is currently the best way forward for Australian businesses grappling with the implications of rising costs, given Australia’s concerning economic outlook for 2025. This is mainly due to the significant cost arbitrage that offshoring offers, with Sri Lanka pioneering the industry with a whopping 70% reduction in all-inclusive costs. To put things into perspective: […]

With companies fundamentally changing the way they view work, traditional employment methods are quickly falling behind. A study by a leading business agent in the UK showed that over half (53%) of UK businesses are looking to hire staff on a contractor or freelancer basis, while only 21% plan to hire staff permanently. The main […]

The Business Risk Index (BRI) is a new regional credit rating that assesses health and provides unique insights into businesses across Australia. The latest data from July 2024 across 329 Australian regions revealed some alarming figures: The factors driving these changes include high interest rates, increasing commercial rates, challenges in expanding commercial spaces, and the shortage […]

As with the entire Finance and Accounting sphere, the future of auditing too is changing, reshaped by innovative solutions that enhance both the scope and efficiency of audit services. In the past, auditors focused on detecting fraud and ensuring that agents reported the true financial situation of businesses. Over time, the role of auditors has […]

The U.S. is facing a significant accountant shortage, a decline that has reached a critical point, sparking concerns about the future of financial services and economic stability. Here are some eye-opening statistics from the U.S market: This drastic decline in the number of accountants in the U.S. can be attributed to several key factors: The […]