My first job is to welcome the four new Directors to Power Tynan – Gilda, Sharon, Brad and Dan. I am privileged to say I am in business with these dedicated, talented and hardworking individuals. There is a marked difference between saying, “I work with someone”, and saying, “I am in business with someone”.

Our four new Directors and I have very similar goals and the time we’ve spent strategising together has created a very strong bond. Of course it is a huge step for Gilda, Sharon, Brad and Dan to take on the extra responsibilities because, as well as the obvious monetary investment; there is also the corporate responsibility, which in today’s environment is very onerous.

On another note, our firm received some excellent accolades from our peers in the Australian accounting profession, when we were fortunate enough to be finalists in five categories of the Australian Accounting Awards held in Sydney recently. Power Tynan is recognised as a leader in the profession both regionally and nationally, and these nominations reflect how far our firm has progressed over the years. We were finalists in the following categories:

• Thought Leader of the Year - Paul Hilton
• Executive of the Year - Amanda Kenafake
• Accounting Student of the Year - Ben Tansky
• Office Administrator of the Year - Lauren Guymer
• Graduate Program of the Year - Power Tynan

Amanda and Lauren won their categories, with Amanda also winning the AccountantsDaily Excellence Award. This award recognises the year's top performer, being the individual who received consistently high scores from all judges – kind of like the Gold Logie! Congratulations to both Amanda and Lauren for their outstanding work, being recognised as leaders in our profession. I would also like to thank our staff and you our clients for your continued support, as we would not have achieved this without your contribution.

The last 12 months have been challenging. While some sectors are performing well, others are in severe decline and consequently we have been consulting with many of our clients about the need to create real productivity gains. When implementing any change to a business, the question needs to be asked - if it doesn’t create an efficiency and productivity gain, then why do it? In this economic climate, margins are being eroded, so the need to create real productivity gains is essential to maintain your margins. If you need assistance or would like to talk about how productivity gains can be achieved in your business, please contact your adviser to discuss.

There is a complete change in the way we as a nation are responding to the challenges we face, with the new Prime Minister Malcolm Turnbull leading a conciliatory approach to address difficult but necessary topics. I welcome this approach to achieve full engagement to ensure we kick start our economy.

Finally, please enjoy the Christmas period with family and friends. This is the one time of the year when you can put your feet up and recharge your batteries to start afresh in 2016.

Have a safe and happy Christmas and all the best from the crew at Power Tynan.