Singapore’s accountancy sector is gearing up for a transformation in the run-up to 2020. However, to get there, accounting firms need to address issues such as technology and knowledge adoption as well as talent retention. Currently, Singapore does not have a ranking system nor an industry benchmark to spur accounting firms to make improvements. SMU Associate Dean (Curriculum & Teaching) and Associate Professor of Accounting (Practice) Themin Suwardy described this lack of an industry benchmark as a "big gap" when dealing with productivity. Associate Prof Suwardy said, “Accounting firms are generally reluctant to share operational or financial information such as revenue per employee, number of employees and time spent on each engagement - and such factors are necessary in drawing up productivity measures”. He added, “Maybe it is the culture, or because it has never been done before. The bulk of the industry is small businesses, so maybe sharing is not caring in this instance."