Our People

Biography

Andrew Sykes is a Director of the Business Advisory division in Canberra and the National Leader of Technology with over 20 years' experience advising businesses on taxation, growth and improvement strategies.

Andrew manages consulting assignments and is responsible for providing clients with high-level financial advice and strategic initiatives across local and Commonwealth government departments and agencies, as well as small and large businesses in a range of sectors and major corporates. He also provides start-up and funding advice for small-to-medium enterprises (SMEs) operating in the technology sector. 

"My motivation is seeing my clients grow, develop and succeed and having been a part of that journey to get them there."

Andrew works closely with clients to resolve complex issues in the following areas: 

  • Business Advisorybusiness planning and enterprise resource planning
  • corporate structures and corporate governance
  • cloud accounting
  • digital strategy
  • business and asset valuations
  • financial system review
  • cash flow management and financing
  • strategy and revenue modelling

Prior to RSM, Andrew worked in financial markets, having commenced his career in stockbroking.  He is a sports enthusiast and in his spare time, enjoys both watching and playing a range of sports and keeping active. 

Andrew Sykes is a Partner of RSM Australia Partners and a Director of RSM Australia Pty Ltd.


Solutions Andrew provides

  • As well as assisting with technical matters, Andrew is able to analyse the financial performance of clients. This includes assessing the financial viability of a business and determining areas of improvement.
  • Andrew has been involved in a number of corporate reconstructions and successful 'work outs' of companies in financial difficulty, some of which have spanned a period of years and they have provided successful results to all stakeholders.

SIGNIFICANT PROJECTS

  • Andrew has advised start-up clients on how to grow, from the initial idea stage through to raising funds and capital and the exit event.  

Professional associations

  • Member, Chartered Accountants Australia and New Zealand

Qualifications

  • Bachelor of Commerce in Accounting (University of Canberra)
Publications

Season 2 Episode 1: Tax Deductions - Understanding which expenses can be deducted and which can't | talkBIG Podcast

12 September 2022
Our talkBIG hosts, Andrew, Chris, and Young,  discuss the "golden rules" of managing tax deductions. Along the way, they cover the Australian Tax Office (ATO) rules surrounding travel expenses,  record keeping,  COVID-19 payments, RAT tests,  changes to superannuation, cars,  clothes, laundry, education and training, working from home, holiday homes and rental properties.

Episode 13: Does health insurance save you money? | talkBIG Podcast

10 May 2022
Is health insurance worth your while? Shaped in the late 1900's with the commencement of Medicare, Australia's health system is very different to any other country. It gives Australians universal access but, what is the cost of that and what role does private health insurance play? From a society perspective, health insurance is very muc...

Episode 12: Going IPO, the latest achievement in Kate's journey! | talkBIG Podcast

26 April 2022
Kate Carnell AO is an Australian businesswoman and former politician. Now, as Chair of a recently publicly listed company, Racing and Sports, Kate takes us through what is involved in going IPO and what has kept her enthused and focused on what really counts in business throughout the years.  Kate started her career as a Pharmacist in th...

Episode 11: 2022-23 Federal Budget Analysis

1 April 2022
Access insights from our panel of experts as they unpack the challenges and opportunities for an Australia focused on recovery and re-building.

Webinar Recording: 2022-23 Federal Budget Analysis

31 March 2022
Highlights of the 2022-23 Federal Budget Webinar With a focus on innovation, creating more jobs and reacting to the rising cost of living - RSM was proud to provide you with an interactive panel discussion in response to the 2022-23 Federal budget.  WATCH RECORDING Take our post event survey (2 mins)   &n...

Episode 10: Economic effects of climate change | talkBIG Podcast

23 March 2022
Over recent times in Australia alone, we've experienced increasing economic threats due to floods, bushfires and natural disasters. Being a coastal nation, sea levels rising which will affect most of our major cities in the near future. Maintaining agricultural productivity, more droughts or floods and heat stress in general will also be of a particular concern. When the solution seems clear, how can one make world leaders think beyond the next 2-3 years? In this episode, we explore the opportunities available and what might be hindering more rapid progress from both the Government and private sector.

Episode 9: Entering into a relationship | talkBIG Podcast

10 March 2022
Join us as we talk prenups, postnups, your rights in a defacto relationship, and what to do in a separation to avoid spending money in court while protecting things like inheritances and determining who gets to keep the family pet! LISTEN NOW>

Episode 8: Getting into the cryptocurrency game | talkBIG Podcast

24 February 2022
What exactly is bitcoin? Getting into the cryptocurrency game If you're thinking of getting into Cryptocurrency, a great place to start is by knowing where to invest and avoiding the 'FOMOs', taking a common sense approach and to start following the exchange. In this talkBIG episode, David Elliott, of Agile Digital, talks everything you need to know to begin your crypto journey, including hardwear wallets, private keys, bitcoin security, data storage and what lies ahead! Will banks go the same way as the telephone booth? Crypto is a volatile asset class that experiences a lot of ups and downs so once you do take that your first steps, avoid reacting to the fluctuations and let the investment work for you long term.  LISTEN NOW

Episode 7: Take control of your personal finances | talkBIG Podcast

17 February 2022
Kick off 2022 with smart money moves to take control of your personal finances In this episode, we talk getting over your financial hangover from Christmas and start off the new year with some new ideas and tips on how to improve your personal finances. Saving and putting money aside is a lot easier that making extra money but the key is finding something that suits you and something you can stick to long-term. If you don't want the hassle of tracking your spending in a budget there are simple 'set and forget' strategies to develop that nest egg for a rainy day or holiday. LISTEN NOW

Episode 6: Small business, big technology | talkBIG Podcast

18 November 2021
Small business, big technology - Get ahead in 2022 Advancements in tech often start with accounts payable, the biggest shift being the ability to totally illuminate data entry. In this episode, we hear from Laurel Grey, National Manager of Digital Advisory at RSM, on how businesses can use RPA (Robotic Process Automation) to either ...

Episode 5: Investment on your mind? | talkBIG Podcast

4 November 2021
Investment on your mind? The COVID-19 property boom and what’s next in the Australian market The last year has seen house prices rising at record rate, locking some buyers out of the market and providing fantastic opportunities for others. Julian Muldoon, Director, 1Group Property Advisory gives us a great run down on the property mark...

Episode 4: Is your business fraud resilient? | talkBIG Podcast

18 October 2021
Is your business fraud resilient? In this episode, we speak with Roger Darvall-Stevens, Partner and Head of Fraud and Forensic Services at RSM on what business owners can be doing to prevent, detect & respond to fraudulent activity.  From training your employees to knowing what to look out for, developing whistleblower programs and regul...

Episode 3: Harry Potter retailer navigates COVID-19 | talkBIG Podcast

1 October 2021
Harry Potter retailer navigates COVID-19 In this episode, we speak with former Paralympian speed skier Michael Milton as he navigates lockdown in his new life as owner of Quizzic Alley, stocking Australia’s largest range of licensed Harry Potter merchandise! As a family-owned small business with retail outlets in Canberra and Sydney, Michael takes us through his journey and, more recently, their challenges in navigating lockdowns and business support grants. LISTEN NOW

Episode 2: Hospitality business pivots during COVID-19 | talkBIG Podcast

1 October 2021
Hospitality business pivots during COVID-19 When the Trimboli family opened one of Canberra's first delicatessens in 1978 which later launched them into the hospitality business, they could have never predicted the turn of events that they, along with the rest of the world, have had to face in the 18 months.   We find out what they did to reinvented themselves in response to COVID in the early days and how it is still affecting how they operate and do business today. Listen noW

Episode 1: Top tax time tips for 2021 | talkBIG Podcast

1 October 2021
Top tax time tips for 2021 What's the ATO targeting this year according to the accounting grapevine? In the first episode of the RSM talkBIG podcast, our hosts spill the beans on what to do to avoid becoming under the radar and ensuring you've ticked all the compliance boxes. From working from home expenses through to self education, we discuss tax opportunities, common mistakes and how to achieve your best outcome this tax season. Listen now

Webinar: What's Next in Tech? | 30 September 2021

30 September 2021
Accounts payable has traditionally been a “mundane back office task”. But, the landscape is changing. Technology solutions are becoming far more automated and integrated than ever before. Making payments to suppliers is also far more streamlined than in the past, with many solutions offering end-to-end accounts payable processin...

What you need to know about ACT COVID-19 Business Support Grants

31 August 2021
UPDATE 31 August, 12 noon: The Australian and ACT Governments have expanded the COVID-19 Business Support Grants with the extension of the ACT lockdown to 17 September. The ACT COVID-19 Business Support Grants will deliver support in the form of one-off grants of $20,000 for employing businesses and $7,500 for non-employing businesses where th...

What do I need to do NOW to get ACT COVID-19 support payments?

19 August 2021
On 17 August 2021, COVID-19 Business support Grants was extended up to $10,000 (from $3000) for employing businesses and $4,000 (from $1,000) for non-employing businesses over the 3 week lockdown period where those businesses’ turnover has declined by 30 percent or more as a result of the COVID-19 health restrictions. What do I need to do NOW ...

New grants available to ACT businesses and individuals impacted by the recent COVID-19 lockdown

13 August 2021
The ACT Government announced a range of measures to support local business and industries impacted by the recent COVID-19 lockdown. On 13 August 2021, a jointly funded package from the Commonwealth and the Australian Capital Territory (ACT) Governments is announced to deliver grants of $3,000 for employing businesses and $1,000 for non-employing...

Watch the recording: Federal Budget Webinar

12 May 2021
Our panel of experts discuss the challenges and opportunities for Australians as we emerge from the impacts of COVID-19 and enter the next phase of Government stimulus. Hear our speakers analyse the budget’s business, economic, taxation, and political implications as Australia carefully navigates our path to recovery. Our panel includ...

Five questions boards should be asking emerging from COVID-19

15 January 2021
With 2020 now behind us, there’s no doubt countless people across the globe will breathe a deep sigh of relief. While there are no guarantees that the worst of the COVID-19 pandemic is over, steps taken over the past nine months certainly place many in a better position to deal with whatever happens next. For organisations that made rapid...

Case Study: Trellis Data

2 December 2020
As artificial intelligence and machine learning technologies continue to evolve, industry leaders are working hard to deliver accessible solutions that solve real-world problems.   One such leader is Trellis Data – a Canberra based technology company that is making the latest machine learning capabilities available to government and e...

Case Study: xAmplify

2 November 2020
Positioned at the cutting edge of innovation, xAmplify is a rapidly expanding consulting and technology services group based in Canberra. xAmplify specialises in government and enterprise solutions and has scaled from a small start-up to being a leading competitor with multi-nationals in the tech space in just two years with help from the Bu...

Webinar: Federal Budget Update | 7 October 2020

7 October 2020
In a year of unexpected challenges and changes, the delay in the release of the Federal Budget to October is yet another first. As with all the recent changes, we understand your need to keep up to date with the latest news and information. This year we assembled an outstanding panel of speakers to help you understand the implications of the Fe...

5 elements to a successful not-for-profit amalgamation or merger

26 August 2020
One of the first sectors to bear the brunt of an economic downturn is the not-for-profit sector which is resulting in many considering an amalgamation or merger. Reliance on community services increases, yet funding and donations can be hard to come by and higher poverty rates affect customers’ ability to pay for services.  For not-for-pr...

Webinar: JobKeeper 2.0 | 24 July 2020

24 July 2020
The Federal Government has released further details surrounding the much anticipated changes to the JobKeeper Payment.  The latest update confirms that the JobKeeper payment scheme will be extended by a further six months to March 2021, with accompanying changes to the payment rate and eligibility. RSM Directors Andrew Sykes and Sam Moha...

2017/18 Federal Budget - Analysis

19 May 2017
In case you missed the LIVE coverage from Hotel Realm last Wednesday evening, Andrew Sykes from RSM Australia dissects "The Rocky Horror Budget". It was just a jump to the left for Malcolm Turnbull, but still a step to the right with continued attacks on public service pay growth and decentralisation. The impacts of the Budget are in the deta...

Why customer service is vital in a sea of automation | Part 3

28 March 2017
Do you want your business to stand out from the rest? Offer a quality user experience! Great customer service isn't just about resolving an issue. If you really want to differentiate yourself and impress your customers, you need to consider their experience from beginning to end. This is where user experience comes in.  WHAT IS U...

Why customer service is vital in a sea of automation | Part 2

17 March 2017
5 Simple ways to improve your customer service Have you ever been so frustrated by a company’s customer service? On the other hand, how incredible is it when a company has excellent customer service? One of key drivers in your company’s value is the value of your customers. Analysing customer profitability and maximizing a customer...

Why customer service is vital in a sea of automation | Part 1

9 March 2017
How to increase profits through better customer service. "Customer service is not just a warm and fuzzy addition to your business practices, it's directly linked to your profitability and sales. This is why it needs to be a priority and a focus for any business that wants to grow or even survive in a highly competitive future" In recent year...

The fine art of determining a customer's true worth

21 October 2016
How does a CLV determine a customer's true worth? Back in 1956, legendary old-school management consultant Peter Drucker declared that the purpose of any business was all about creating a customer. But six decades later, too many small business enterprises (SMEs) still misunderstand a customer's true worth - the true lifetime value of ...

9 ways to reduce business costs

21 July 2016
Every business owner is aware of the importance of keeping costs low while continuing to offer customers the best service possible. Equally, that no matter how profitable your business is there is always a bit of fat that could be trimmed away to reveal a faster, leaner, more effective operating model. Rapid advances in technology are making ...

Are you market intelligent?

31 May 2016
The foundation of any successful business strategy is market intelligence. Being informed means you can make competent decisions about your business’s direction and have the foresight to predict and be prepared for the challenges ahead. Market intelligence means knowing the context of the economic environment you are operating in, understan...

Benefitting from the competition under the NDIS

13 April 2016
Competition is unavoidable when doing business within the post-NDIS environment, but this new pressure is not a bad thing, as it gives you the opportunity to improve. The fee-for-service funding model encourages organisations to better their services and transform themselves into the most attractive provider on the market. Competing with others wil...

Protecting your organisation from NDIS disruption

13 April 2016
Often, the biggest challenge when facing change is just figuring out what to do, and when it is the funding of an entire organisation at stake, your reaction can either make or break your future. The NDIS will be fundamentally transforming the way funding is provided to the sector. During this time of upheaval, a transition plan is critical in help...

The NDIS Risk Factor

13 April 2016
The National Disability Insurance Scheme (NDIS) makes for risky business, creating in one stroke a range of new traps and dangers which organisations must navigate. Depending on your organisation’s readiness, the risks can endanger functions in every part of the business. Some risks are apparent to every stakeholder, while others are hidden in es...

How to afford staying in business under the NDIS

13 April 2016
Income is critical in saving organisations from failure, and maintaining a positive balance sheet is one of the biggest concerns for disability service providers facing the National Disability Insurance Scheme (NDIS). The new fee-for-service funding model under the NDIS means that it has become more important than ever for organisations to have an ...

NDIS: Overcoming the Big 5 Obstacles

13 April 2016
Navigating the National Disability Insurance Scheme (NDIS) may seem like a challenge, but when everything is distilled down to basics, the major areas that need your attention are in fact few. Through our extensive experience in working with transitioning service providers in the ACT, RSM has identified five major obstacles to a successful transiti...

46 percent of SMEs planning to invest in the digital space

5 August 2015
Disruptive technologies and innovation are accelerating the need for change and are having a profound impact on many traditional business models and their revenue streams. To compete effectively, businesses must adapt and evolve quickly to respond to what is becoming the new 'norm'. Operationally this is being made easier by digital technologies...

Five steps a business should take in the digital age

1 July 2015
Ways of doing business are changing fast in the modern world, and failing to keep up could cost you dearly. There are five key steps a business should be taking in the digital age should they wish to retain their competitive edge and not be left behind. 1. Have a mobile-friendly website A mobile-friendly website is one that is designed to be ...

Six goals for increased business performance

9 March 2015
Increasing sales is great. In fact it’s the number one goal of most businesses, however it’s not enough alone to ensure a growing bottom line. What you need to also focus on is increasing gross profit percentage. Gross profit percentage is one of the key measures that business should use to assess financial performance. It shows you what per...

Digital disruption moving accounting software into the cloud

26 February 2015
In the simplest terms, cloud computing means storing and accessing data and programs over the Internet instead of your computer’s hard drive. The most common example in business today is internet banking – most businesses access their bank accounts through browser based software, with the data hosted in the cloud. A cloud based accounting pa...