3. Brexit:
The world is watching
On 23 June 2016, Britain will take to the polls
and decide whether they want to be in the EU
or out of it. This politically charged referendum
has got people from all over the world
weighing into the debate. Although Praxity
remains neutral on the topic, the Alliance is
keen to ensure Participants and others have
access to factual information and a forum to
express their personal views.
At the G20 finance ministers’ summit at the
end of February, officials were unanimous
in their opinion - exiting would be a shock
to the global economy and warned it would
be among the biggest economic dangers of
2016. Similarly, the IMF, in its April half yearly
assessment of the world economy, stated that
a Brexit could deal a damaging blow to the
fragile global economy.
Closer to home, the majority of CBI member
companies believe it is in the best interests
of their business and the wider UK economy
to remain inside the EU. However, the
organisation is not aligning itself to either
campaign. Likewise, the ICAEW has adopted a
neutral stance. Meanwhile, a report prepared
by the CCAB, the forum for accountancy
bodies in the UK and Ireland, suggests a need
for greater consultation between the business
sector and EU legislators to provide a more
effective and sustainable model.
Early YouGov polls indicated that the Out
camp had the majority. By mid-April, the lead
for Brexit had narrowed, with the support for
In or Out tying at 50:50. But with several hard
months of campaigning remaining, the result is
still too close to call.
As the voting D-Day looms ever closer,
Praxity people from across the globe share
their opinions and arguments for and against
Britain leaving the EU. All views expressed are
personal and do not represent the opinions of
their respective firms.
STAY
Nick Hatzistergos, Managing
Director, William Buck, Australia...
“With our long shared heritage,
Australia is observing the upcoming
referendum with great interest.
Australian, Asian and North American
businesses have long used London as
a gateway into Europe. An exit from
the EU could lead to the UK
no longer being used as the entry
point to this single market. There’s
every opportunity that Brussels,
Frankfurt or Dublin may become a
more attractive financial centre for
international businesses.”
“While stronger relationships with the
Commonwealth have been raised as
an alternative to the EU, in my opinion
this is not viable. When Britain entered
the EU in the seventies, the power
of the Commonwealth started to
deteriorate and it no longer holds the
allure it once did.”
STAY
Jos van Huut, former Praxity
Chariman and former Mazars
Netherlands...
“Brexit is not just an economic issue.
Some years ago people used the
phrase ‘fog over the channel’ to
suggest that Europe was isolated.
If Brexit becomes a reality I believe
the reverse will happen, Britain will
become isolated. And if there is one
lesson that we all can learn from
history: it is that isolation destroys
entrepreneurship. The free flow of
people and goods is what brings
economic prosperity.”
“The original founders of the EU were
not driven by economics. Their vision
was to create a safe continent without
wars and with low level borders; a
group of united countries that would
bring happiness and welfare to their
people. Largely speaking this is what’s
happened, making the EU in essence
a success. If UK leaders adopted
this vision as their core message
I’m confident that the vote will be a
resounding No Brexit.”
NEUTRAL
Arnaud Debray, Senior Partner, Axe
Conseils Expertise, France...
“What would you think if, during a
game of rugby, one of the players
constantly threatened to leave the
field if the rules are not immediately
modified to his own benefit? This
reflects the general feeling shared
by the French population. Although
Britain has been a willing participant
in the EU sharing the cost benefits,
its reluctance to adopt the single
currency means that there was always
a sense it wasn’t truly integrated,
so the average French person doesn’t
feel threatened by the possibility of
a Brexit.”
“What’s more worrying is how Brexit
would impact freedom of movement.
An exit could increase the prospect
of Calais refugee camps being
relocated in England with France no
longer guarding the border. Although
in theory, standing alone sounds an
attractive concept, losing the free
movement of goods, custom duty
exemptions and potentially even
Scotland could result in what many
our side of the channel have
coined ‘Little England’. Personally, I
don’t believe that Britain will make
this error.“
STAY
Joel Mitchell, Partner, Plante Moran,
USA...
“The impact of a Brexit would
have ramifications across a broad
spectrum of US issues, especially for
multinationals based in the US. A vote
to leave the EU would raise a number
of questions on the coattails of the
uncertainty that still accompanies the
implementation of BEPS-related tax
and transfer pricing measures.”
“As well as providing US businesses
with easy logistical access to the
common EU marketplace, the tax
environment in the UK has been
trending toward a very friendly
jurisdiction for many US-based
businesses. Notwithstanding BEPS
related changes, tax strategies
utilized by UK holding companies and
through the patent box regime may
need to be reconsidered if a Brexit
comes to fruition.”
4 HUB 2016 ISSUE #2 HUB 5
STAY
Gerhard Meyer, Managing Partner,
FALK & Co, Germany...
“Mainland residents are well aware
that ‘all that glitters is not gold' in
Europe. And while the current refugee
crisis and French economy don’t look
inviting to Britain, exiting the EU would
in my view be inappropriate. The risks
would be significantly higher than
the benefits.”
“Geographically, Britain resides in
Europe. London is without doubt
regarded as the financial hub of
Europe, a status that would be
weakened by an exit. Numerous polls
attest that British company CEOs
and trade confederations are worried
about the impact on established trade
relationships with mainland Europe.
Although we live in a globalised world,
Britain’s export volumes per annum
are less than Belgium. With so many
British industries closely aligned to
Europe, voting to leave could be
economic suicide.”
LEAVE
Neil Relph, Managing Partner, Rouse
Partners LLP, England, UK...
“In an independent United Kingdom
SMEs could thrive. With the
Government free to set its policies
based on local needs I would hope
that the first areas they review would
be the regulations, costs, bureaucracy
and complexity that is currently
holding back our SMEs –
the undisputed lifeblood of the
British economy. The cost savings
made from leaving Europe could be
reinvested in UK business. It would
be fantastic to see new grants made
available for innovators,
entrepreneurs and manufacturers,
pushing forward our position in the
global marketplace.”
“I do not believe that international
business would cease trading with
UK businesses should we leave.
Speaking from personal experience,
if a European business offers the
service, quality, price and timeliness
required, being part of the EU doesn’t
factor in my decision to purchase.
Likewise, I imagine that our European
trade links will continue if there are
customers, suppliers and profits to
be made in the UK. I also doubt that
our close relationship with the US will
change as a result, nor our position as
a financial service powerhouse.”
“Let’s not be naive, leaving the EU will
be painful initially and it could take a
long period of time to unwind, but the
long term rewards are there to
be had.”
STAY
Bindi Palmer, Partner, Rouse
Partners LLP, England, UK...
“When it comes to our jobs, trade,
travel, work, economy, and brand
Britain, we must not pull up the
political drawbridge that connects our
island with Europe. Immigration
is taking centre stage with our media
at the moment, but the debate is
much wider than this. On balance
the EU is a net cost and we do put a
lot in. However, choosing to leave is
a step into the unknown and we can
speculate and guess, but in reality
we don’t know the impact of Britain
leaving. How will our international
business relationships suffer,
how will our financial markets
cope, how will we adjust to the new
modus operandi?”
“Today, there are fewer and fewer
businesses that do not have some
international element in their supply
chain. Some of our biggest trading
partners are in the EU and more
than 50% of our exports go to EU
countries. As EU members we have
a say on how trading rules are drawn
up. Putting this relationship at risk by
leaving the EU will put jobs on the
line. The uncertainty and Government
negotiations are not doing the UK
reputation any good at all in Europe
and we need to decide whether we
are in, or we are out.”
FEATURE
4. 6 HUB 2016 ISSUE #2 HUB 7
FEATURE
For all the latest news and industry
opinions on the EU Referendum,
please visit www.praxity.com/news
the arguments for staying together are
exactly the same?
“Scotland has a louder international
voice when we work together with
the EU. There are no trade barriers
so it’s easy for Scotland to export to
the EU. Plus with no borders, Scots
are able to move freely throughout
the EU for work, study and travel.
Why then create a potential barrier
to trade and restrict the freedom we
Scots currently have to move capital,
goods and services within Europe?
This was not acceptable during the
Independence Referendum campaign
when the politicians were fighting to
keep Scotland as part of the UK, so it
seems a real contradiction now. Being
forced to leave the EU against our will
could prompt another Independence
Referendum. Time will tell!”
NEUTRAL
Tim Browne, Partner, Jackson
Andrews, Northern Ireland, UK...
“Northern Ireland has always been
part of the UK and is the only part
of the UK that has an extensive land
border with another country that
is part of the EU. Trade between
Northern Ireland and the Republic
of Ireland is significant and very
important to both countries. Is it in
the interest of either country to erect
barriers to trade? The Republic of
Ireland enjoys significant trade with
the entire UK, and again it would be
foolish for either country to jeopardise
this trade.”
“Northern Ireland has a strong
agricultural base and there is great
uncertainty amongst farmers, many
of whom rely upon payments from the
Common Agricultural Policy to make
a profit. In theory there should be
significant subsidies paid to farmers
from the UK government on exit,
so perhaps support for agriculture
may improve”
commerce and trade is more than
just economic, it’s a way of sharing
culture, friendships and a common
approach to society. I am convinced
that the departure of the UK from the
EU would be unsettling and foolhardy,
but would not end what is a strong
trading relationship with Ireland.”
STAY
David Herbinet, Partner, Mazars UK,
England, UK...
“I am profoundly European. Wherever
I travel in Europe, I feel at home.
This does not make me less French;
rather it completes me. For me, the
EU is first and foremost synonymous
with peace, freedom and democracy.
The construction of Europe over the
last 70 years is, in my view, one of
the greatest political achievements
in history. I have witnessed the fall
of the Berlin Wall, the extension of
democracy in numerous countries
so close to our shores and the
unprecedented social and economic
development of so many countries
who had joined Europe as a beacon
of hope for a better future. So I am
inevitably frustrated by some of the
pettiness of the Brexit referendum,
with its ‘bean counter’ approach
to assets and liabilities, profits and
losses. We need the debate to be on
a higher ground.
I genuinely want the UK to stay in
Europe but this has to be a long term
engagement, as a fully committed
member of a group of countries which
will continue growing closer together,
by necessity and by choice, in pursuit
of a higher shared ideal.”
STAY
Carol Wright, Partner, Springfords,
Scotland, UK...
“Following Scotland’s Independence
Referendum last year, I’m fascinated
to see that a large number of
politicians who campaigned for us
being ‘better together’ then are now
advocating that we are ‘better apart’
from the EU. How can this be when
STAY
David Gorton, Partner, PM+M,
England, UK...
“I am a proud Lancastrian,
Englishman and Briton. I don’t much
like government (of any size, shape or
level) but accept that there are many
things in life that need state action to
sort them out. Recently, I have heard
a lot of shouting about sovereignty,
democratic deficit, costs, red tape,
migration and competence - mainly
from people who appear desperate to
leave the EU.”
“Although I agree with many of
these arguments, I cannot see that
leaving the EU and transferring all
responsibilities to the government in
London will address any of the issues.
I have spent much of the last quarter
century doubting the competence,
integrity, judgement and/or
understanding of most of the people
who run this country from London.
It’s not that I dislike Londoners, but
I don’t think that the priorities of the
London government have very much
regard for Lancashire. Hopefully the
‘Northern Powerhouse’ will prove
me wrong! I will therefore be voting for
the continued development of Britain,
England and Lancashire within the
European Union.”
STAY
Mark Kennedy, Senior Partner,
Mazars Ireland, Republic of Ireland...
“In Ireland, much has been made
about the possible consequences of
departure - with a lot of doom and
gloom about economic issues, such
as increased transaction costs for
doing business with the UK, fears
about the UK repositioning as a
competitor, and risks that existing
positive trading relationships will be
disrupted. The primarily economic
arguments trotted out are in my view
not terribly well thought out
or persuasive.”
“The European project has, I believe,
been farsighted, in many ways
magnificent. Those that constructed
the EU from its origins to its
current format clearly realised that
NickHatzistergos
Jos van Huut
ArnaudDebray
Joel Mitchell
GerhardMeyer
NeilRelph
Bindi Palmer
DavidGorton
MarkKennedy
DavidHerbinet
CarolWright
Tim Browne
5. NEWS FROM PARTICIPANTS
NEW report
builds knowledge
Rouse Partners, has refreshed and
updated its annual construction and
property sector report, highlighting
the firm’s reach and expertise in this
field. The 2016 report focuses on how
the market is changing, suggesting
that smaller firms are still vulnerable
to increasing material prices, skills
shortages and competitive pressures.
To download your free copy of the 16-
page report, please visit
www.rousepartners.co.uk/
construction-sector-update
Keeping it
real for CFOs
Recognising that there’s a gap in the
Australian market for insightful and
relevant commentary that appeals to
CFOs, William Buck has launched a
new content marketing site - The
Real CFO.
Unveiled in January, the site is an
extension of the support the firm
already offers this valuable audience,
explains National Marketing Manager,
Bryony Vandepeear. “Today’s
innovative CFOs are passionate
about injecting new thinking into their
business and driving new growth
opportunities, and that’s what this site
aims to support, providing a regular
dose of down-to-earth, practical
advice, opinions and tips.”
Visit www.therealcfo.com
Mazars opens
office in Manila
Last November, as part of the firm’s
global and Asia Pacific growth
strategy, Mazars opened an office in
the Philippines. To mark the occasion,
the team sponsored a Gala at the
France Philippines Chamber of
Commerce and Industry.
François Monville, Managing Partner
of Mazars in the Philippines, explains:
“In order to better serve our clients
expanding in the Philippines, we
felt the need to operate through
our own office in Metro Manila to
complement the coverage of our
Asia Pacific presence. The clients of
Mazars in the Philippines will benefit
from comprehensive, state-of-the-
art services in consulting, in addition
to high quality and value-added
outsourced solutions.” Development
plans are already underway to initiate
an off-shored talent services factory
for Mazars’ European, Asian and
American offices.
“The offices will act as a bridge
between businesses in the Philippines
and related companies overseas,”
adds Mélanie De Baets, Senior
Manager in charge of the European
and US desk. “We have created
dedicated international desks
combining best practices from our
various offices around the world,
and clients value our English, French,
Japanese, Thai and Russian
language capabilities.”
For the full story, please visit
www.mazars.ph
HUB 9
Fund administrator
sale a done deal
This February, the Kaufman Rossin
Group finalized the sale of its award-
winning fund administration affiliate,
Kaufman Rossin Fund Services, to
financial services company ALPS, a
DST Company.
The agreement between the two
companies was signed in December.
Kaufman Rossin decided to sell in
part because of changes in the hedge
fund industry.
The deal, notes Kaufman Rossin
managing principal Blain Heckaman,
enables the CPA and advisory firm to
strengthen and expand its resources
in business and risk advisory. “It
allows us to focus on our core
practice – improving our clients’
businesses and helping protect them
from risk.
“Technology and specialization have
enabled us to serve clients more
effectively through sophisticated
consulting, whether it’s using data
analytics, identifying gaps in their
processes, or managing their
accounting needs remotely with
secure, cloud-based services,”
adds Blain.
Proceeds of the sale were shared with
all 450 employees, which co-founder
and CEO Jim Kaufman said reflects
the firm’s ‘employee first’ culture. “Our
people make this firm successful, and
we’re delighted to be able to thank
everyone in a very tangible way,”
comments Jim.
For the full story, please visit
www.kaufmanrossin.com
ShineWing Australia
makes Las Vegas pit stop
Between 31 March and 3 April, ShineWing Australia
took a team of clients to Las Vegas to experience
the annual National Automotive Dealer Association
(NADA) Convention and Expo.
The tour, organised by the firm’s automotive
industry experts Brett Fowler and Steve Edmonds,
gave delegates the opportunity to attend
workshops with the industry’s best trainers,
network with industry peers and meet face-to-face
with executives of major auto manufacturers .
For more information, please visit
www.shinewing.com.au
8 HUB 2016 ISSUE #2
NEWS FROM PARTICIPANTS
MNP showcases Aboriginal Circle of Commitment
MNP has for many years enjoyed an extensive history working with Aboriginal
communities, organizations and businesses across Canada and last year paired with
HeroX to launch the Operation Blue Sky Aboriginal Health Initiative Challenge. The firm
also has more than 300 Aboriginal team members.
To complement the diverse suite of services designed to help Aboriginal clients
preserve their tradition and position them for success, MNP has now launched a
range of brochures, fact sheets and online resources. These, explains Rob Campbell,
PAED, Aboriginal Services Director, “are designed to showcase how MNP specialists
have developed a greater understanding of Aboriginal culture and respect the
importance of traditions that form the foundation of First Nations, Métis and Inuit
business and organizational decisions.”
Among the resources is a short video featuring interviews and footage on why MNP
is proud to actively serve this community.
For the full story, video and to
download the resources, please
visit www.mnp.ca/en/aboriginal
Victor elected
Chairman of
WeizerMazars
As of 1st January, Chief Executive
Officer of WeiserMazars - Victor Wahba
- has taken up the reins as the firm’s
new Chairman, succeeding Douglas A.
Phillips. Last April, Victor was appointed
CEO as part of the firm’s leadership
succession plan.
“I am pleased to turn over the leadership
reins of WeiserMazars to Victor, with
whom I have worked closely for many
years and have developed great respect
for his judgment and commitment to
the firm’s values,” said Doug Phillips,
who will remain at the firm as a Senior
Advisor. “Victor has played a critical role
in helping the firm plan and execute its
growth strategy - both nationally and
internationally. He truly embodies the
teamwork and collaborative approach
that has become the firm’s hallmark.”
Commenting on his appointment,
Victor said: “I am grateful to Doug and
the WeiserMazars Executive team for
putting their trust in me to lead this great
organization forward. Now that we have
solidified our global footprint, our priority
will be to build a broader U.S. reach in
industries such as Health Care, Financial
Services, Real Estate and Manufacturing
& Distribution.”
For the full story and to view a new video
where Victor and Managing Partner
Jim Blake share their vision for the firm,
please visit www.weisermazars.com
Victor Wahba
Prepare, detect and respond
to Cybersecurity threats
Businesses are seeing a surge in malicious cyberattacks designed to both
steal valuable, confidential data, as well as disrupt an organisation’s ability
to serve its clients, say Rodney Murray and Tom Tollerton from DHG’s IT
Advisory practice. The commoditisation of malware packages, advanced
delivery methods and large distribution networks make cyberattacks both
easier to execute and more successful.
These evolving threats are met with new compliance frameworks and
industry requirements designed to protect infrastructure and private data.
Failure to secure systems or address regulatory compliance requirements
can lead to regulatory or industry fines and penalties, negatively
impact earnings and market value, and damage a company’s brand
and reputation.
DHG recently presented at the ISACA Charlotte Chapter Cybersecurity
Conference on how organisations must prepare for, detect and respond
to suspected security incidents that could lead to a data breach or
cyber-related business interruption. While attention traditionally has
been focused on protective controls to secure data, newer regulatory
frameworks require sophisticated monitoring and response controls to
allow an organisation to quickly detect and contain security incidents.
DHG advises clients to develop a detailed, tested response plan that
outlines prompt detection and remediation actions, which are critical to
limiting the scope of a breach.
As advisors, certified public accountants and auditors should maintain
a basic understanding of cybersecurity regulations. Cybersecurity
requirements are being implemented into most new compliance
frameworks, such as those from the FFIEC, SEC and IRS in the US,
and the Personal Information Protection and Electronic Documents
Act (PIPEDA) in Canada. Furthermore, organisations sharing sensitive
information between the EU and the US must adhere to the new
Privacy Shield agreement, a stringent replacement of the Safe Harbor
agreement. Auditors and accountants serve a vital role if they can address
cybersecurity trends and regulations with clients.
To provide assistance with client cybersecurity initiatives, DHG has
expanded its cybersecurity and forensics labs with the resources and
infrastructure to perform highly technical assessments and forensic
investigations. To learn more, visit www.dhgllp.com/itadvisory.
6. HUB 11
RESULTS
Turn on or turn off?
Applying dating etiquette to social media situations
Plante Moran is on a social media drive. HUB catches up with the firm’s Chief Marketing Officer, Jeff Antaya,
to discover the rationale behind their PR strategy refresh and how they are going about embracing the art of
creating meaningful social business relationships.
Using one of the latest marketing automation technologies - Oktopost - Jeff talks etiquette and shares lessons on how
people at Plante Moran are self-publishing targeted thought leadership commentary via their LinkedIn profiles.
What’s prompted you to change
Plante Moran’s approach to PR?
How people are engaging with
traditional US media - print and
broadcast - has evolved rapidly
in recent years. With the ranks of
news reporters shrinking, expert
commentary is highly sought after.
However, news anchors seek
topical and political comments. For
professional practices like ours that
serves a wide and diverse client base,
the challenge is we can’t be seen to
have a particular political stance. And
a strategy of being neutral doesn’t
play well in today’s media.
How is self-publishing changing
this?
Self-publishing is an alternative way
to connect with a targeted audience.
By using channels like LinkedIn - our
preferred medium for business-to-
business relationships - you can serve
up articles and engage with people,
positioning your firm as an industry
thought leader. Just like writing an
article for a newspaper, publishing
on social media has to be relevant
to your audience. The quality of
material is fundamental. That doesn’t
necessarily mean writing a thought-
provoking commentary from scratch.
LinkedIn is an excellent channel to
repurpose and customize content,
showcase your knowledge and
interests and grow your number
of followers.
Where do people source this
content?
At Plante Moran we have created a
menu of commentary, quotes, events
etc. that would appeal to different
client sectors. New pieces are added
every day. We have ‘motivational
Monday’ featuring quotes from our
founder Frank Moran, and links to
trade shows or webinars, plus timely
economic commentaries. These are
all written and vetted internally. Users
can then select from this content
menu using the Oktopost tool, and
customize the introduction for their
specific audience before sharing with
LinkedIn followers.
What postings have the highest
click rate?
We monitor this using Oktopost.
It’s definitely the items that have a
hook that people can engage with.
For example, an article written by a
tax partner recently raised the issue
of kids being easy tax fraud prey
because they don’t file returns. That
got the attention of parents! Having
good artwork is also essential for
grabbing people’s attention.
Why is customization critical?
Putting a personal touch on a
comment is key to building trust
and credibility. The greater the
customization the higher the
engagement, as it adds a more
human element to the conversation.
It’s also important in social media
to make the relationship two-way.
This sort of dialogue needs to be
cultivated. By liking something shared
by one of your followers, you are
showing interest. It’s basic social
etiquette. Like going on a date, don’t
make the conversation one-sided.
How many users do you have?
Currently around 200. We pitched
initially to industry partners but anyone
can volunteer and access the tool,
providing they complete a class. We
pay a licence fee for every user, so
users do have to be committed. With
the Oktopost tool, we can analyze
activity, see who the top 25 posters
are, and which people have the most
click throughs. Having this analysis
creates some healthy competition,
which encourages more engagement.
How regularly should people post
stuff?
The best way to be seen is to post
regularly—daily even—as long as
you’re not bombarding people with
irrelevant items. The most annoying
traits are over-sharing information,
not acknowledging or thanking
respondents, overtly selling stuff or
being vague just to get a comment.
Also, check your grammar. Just
because social media is viewed as a
more casual way of sharing content, it
doesn’t mean letting standards slip. If
you are representing your firm’s brand,
keep it clean and professional.
Is this the future of PR?
Social media evolves daily, making
predicting the future very hard. Some
might think our strategy isn’t the right
direction, but it does appear to be
working for us. Right now, LinkedIn is
the channel of choice for businesses.
Several years ago Second Life was
all the rage with pundits predicting it
would change the face of business
forever. Companies were falling over
themselves to be a part of it. Now,
it’s all but forgotten, supplanted by
Facebook and Twitter. Next it could
be Pinterest, Instagram or something
completely new. I imagine that we’ll
see more technology tools though
offering greater integration.
Watch this space.
For more information on this initiative,
please connect with
Jeff.Antaya@plantemoran.com
FEATURE
10 HUB 2016 ISSUE #2
JeffAntaya
International Accounting Bulletin
World Survey 2015 ...
Praxity results at a glance
39,000+ people employed by Praxity
Participants, up 10%
16% increase in Partners to 3,287
30% boost in female Partners
18% growth in graduate recruits
Global workforce
Revenue in all regions grew …
with Asia Pacific surging ahead by 40%
North America : 2,513.4
Europe : 1,316.7
Asia-Pacific : 467.8
Africa/Middle East : 125.0
Latin America : 64.3
Revenue by region ($m)
Consistent
growth since
foundation
6 of 7 service lines grew:
• Corporate Finance 250%
• Litigation Support 60%
• Management Consulting 36%
• Tax Services 25%
• Audit & Accountancy 20%
• Corporate Recovery/Insolvency 9%
Ranked 7th overall
for revenue at
US$4.5bn and 6th for
audit and accountancy
revenue, which
increased by 20%
increase in member
revenue on 2014 (taking
into account significant
exchange rate movement)
12%
7. 12 HUB 2016 ISSUE #2 HUB 13
FEATURE FEATURE
Whether it’s in another division or
branch within your firm, or part of
a secondment swap with another
Praxity Participant, taking part in an
international secondment can be a
personal and professionally rewarding
experience. To assist members, in
mid-2016 Praxity will launch a new
internal ‘blackboard’ on the alliance’s
extranet, enabling firms to share
talents across the globe.
The new secondment notice board
will be split into two sections, enabling
firms to promote available positions,
and also giving individuals the
opportunity to showcase their skills to
firms seeking assistance to tide them
over a busy season or to work on a
specific project.
“For some time now members
have expressed an interest in this
blackboard and it is an evolution of
Praxity’s collaborative and knowledge
sharing ethos,” highlights Executive
Director Graeme Gordon. “There’s a
definite advantage to being part of the
world’s largest Alliance of independent
accounting firms. Praxity comprises
more than 39,000 talented individuals
and close to 3,300 partners globally.
That’s a huge resource and benefit for
the firms, whether it’s collaborating
on ad-hoc client projects or filling a
resource gap in times of need, like
when a valued member of your team
is on a sabbatical.”
Many firms have successfully offered
secondments for a number of years,
most cultivating relationships at
regional and global conferences. This
Jessica’s tips for secondment applicants:
• Be open-minded in selecting an office or country; the country in which you have limited knowledge may provide you
with the greatest experience
• Do not assume the firm to whom you are applying understands your qualification or knows of your home firm size and
structure, include this detail in your application
• Provide details regarding your performance reviews and industry experience
• Be flexible when considering the months you wish to work
• Always book a holiday before or after your secondment to really experience the country you are visiting.
new blackboard is designed to give
people a single place to advertise
secondments to candidates eager to
extend their professional skills, but
also give firms a clearer idea of who is
available at a given time.
Potential secondee's, with the
appropriate authority from their firm,
will be able to create a post about
themselves and link it to their MySite
profile. Likewise, firms with busy
periods coming up, for example the
tax reporting season, can advertise
short-term positions without
needing to appoint permanent staff.
“Secondments are proven to assist
in staff retention by injecting fun and
excitement into careers and giving
people a broader cultural, working
style and client experience,” notes
Helen Jennings, Praxity COO. “At the
same time, offering an overseas stint
helps recipient firms to cultivate a
more diverse workforce.”
Although Praxity will offer support
and guidance for firms that have
not participated in a secondment
arrangement like this before, the
blackboard urges firms and
individuals to apply for posts and
sort the finer arrangements out
between themselves.
Pushing comfort zones
in Australia
On its careers website, ShineWing
Australia lists the true international
nature of its business - including
overseas work opportunities and love
of diversity - as its No 1 reason to
work with them. People and Culture
Manager Jessica McCartin has been
instrumental in getting the firm’s
international secondment program
within the ShineWing International
network and Praxity Alliance off the
ground. Jess explains: “Over past
months we have been focussed
on building long term reciprocal
relationships with like-minded firms to
create opportunity. We recognise that
international secondments provide
considerable benefits to our clients,
to the firm and to our people. We
are looking forward to hosting short
and long term secondments in our
Melbourne and Sydney offices over
our peak busy season in Assurance
and Advisory.
“Secondments provide the
opportunity to achieve career goals
and accelerate professionally whilst
facing new challenges and pushing
comfort zones. There is a lot to gain
from experiencing a new working
environment in Australia’s most
liveable cities. Whether you are a
foodie, sports fanatic or just enjoy
relaxing by the beach, when you
aren’t at work there is lots to see and
experience in Australia.
“The development of the ‘blackboard’
on the Praxity Extranet will further
enhance our ability to connect
with firms and share talent around
the world during a variety of
busy seasons. Through these
secondments, we look forward
to continuing to strengthen our
connections with our counterparts
and continuing to create opportunity.”
Secondments: Need help finding a suitable match?
Dip into Praxity’s diverse talent pool
Living the London life
Mark Bernat, senior accountant
(audit & assurance) at William
Buck is currently on a three-month
secondment at UK-based Rouse
Partners as an extra resource to
meet seasonal peak times. The
secondment was initiated at the
Beijing Global Conference, although
a strong relationship existed between
the two firms after Rouse sent a
team member to Australia several
years ago. Mark comments: “I am
enjoying the opportunity to work with
different people, clients and having
the exposure to different systems and
processes. My first client is in London
so I am commuting and experiencing
the joys of the underground.
Outside of work I am taking in the city
sights, visiting different parts of the
UK and Europe and seeing some
soccer games.
“Although auditing is pretty much
the same the world over, it’s been
insightful working with new clients and
teams. I hope that I’ve brought a fresh
set of eyes and shared experiences
from past audits on how we tested
some areas differently. Giving an
alternative perspective may help some
clients. Personally, the experience has
enabled me to expand my network of
contacts. I hope to stay in touch and
show them around my town when
people come over. I’ll be sharing what
I have learnt with my team when I get
back to Australia.”
Alexandra Veth at Falk & Co
comments: “What I liked most about
my experience at Rouse Partners was
the pleasant working atmosphere
and the kind and helpful colleagues.
Furthermore I enjoyed seeing different
working practices to get a new
perspective on my daily tasks. The
most important takeaway I benefited
from was the improvement of my
language and professional skills.
Overall, it was a great experience and
I would always do it again.”
Watch out for the launch of the new
blackboard, which you will be able to view by
signing into the Praxity extranet at
www.praxity.com. If you require a login
account and password, please request one
from website@praxity.com
8. HUB 15
While the venue may be steeped
in history, this year’s conference
promises to tackle modern topics
- namely technology and how it
is changing our profession. Of
course, there will also be the usual
icebreakers, working group sessions
and multiple opportunities to meet
new people and build relations,
especially when catching your breath
during the traditional Cèilidh folk
dancing evening and hotel gala dinner
that are planned.
The overall agenda continues to be
firmed up by the Praxity Executive
Office. Scotland’s first minister, Nicola
Sturgeon (MSP) has been approached
to open the conference. We’ll keep
delegates posted. Other headline
guest speakers include...
Gilly Lord, PwC UK’s Head of
Regulatory Affairs -
She will be sharing her insight on the
huge changes that new technology
and new thinking are bringing to audit
and assurance and how this impacts
professionals that are under increased
scrutiny. For a taster, watch
Tee-offonthechampionshipcourses...orsoakinthespa
CONFERENCES
ExperiencetheSpiritofScotland
A warm welcome and wee dram awaits delegates attending
Praxity’s Global Conference 2016 in Gleneagles between 25
and 28 September.
When Gleneagles opened in 1924 it was described as 'a
Riviera in the Highlands'. Just a one hour transfer from
both Glasgow and Edinburgh, the venue, set in the glorious
Perthshire countryside, is rated as one of Scotland's most
luxurious 5 star resorts.
Named Best Golf Resort in the World for the fourth
consecutive year last year by UltraTravel readers, Gleneagles
is also home to the award-winning Monarch's/PGA, King’s
and Queen’s courses. The 2005 G8 summit was held there
and was widely considered one of the most successful
meetings in history because of the various pledges made.
Praxity hopes to replicate this success during
our conference.
Gilly interviewing PwC's Head of
Assurance James Chalmers.
www.youtube.com/watch?v=3TALmrXItN0
Jamie Anderson, Professor and
Strategist -
This inspiring speaker and renowned
storyteller will run an interactive
session titled ‘The Fine Art of
Success: Business Lessons from the
Creative Industries’. Drawing upon
the hype surrounding networked
technologies, Jamie will reflect on
whether peer-to-peer platforms, social
media sites, tablet computers and
smart-phones have truly changed
how consumers interact with
businesses and discuss the reality and
myths of doing business in a digital
world. www.jamieandersononline.com/
Keynote_Topics.html
Anton Colella, CEO of the Institute
of Chartered Accountants of
Scotland - a firm believer that the
power of personal responsibility and
personal ethical leadership should
be the defining characteristics of
being an accountant, Anton will share
his truly unique take on the future of
the profession.
Bignamestackletechnologyagenda
UK participants
ponder the role of
the profession
New UK Praxity Chair, Alistair
Fraser, sprung into action hosting
the UK Spring Conference in early
March. Delegates even got a
preview of Anton Colella’s Global
Conference keynote speech
relating to the true nature of the
future of the accounting profession.
As Chief Executive of the Institute of
Chartered Accountants in Scotland,
Anton opened the conference taking
delegates back to the heart of what
it means to be an accountant and
our role in society. “He reminded us
that the word “profession” means
vow or promise,” notes Alistair.
“Anton challenged us to consider
what our promise is as professional
accountants, which he argued is
based on values and ethics.”
Getting involved
Kellie Becker, International Tax
Partner at Plante Moran is a familiar
face on the Praxity conference
circuit. Recently appointed Deputy
Chair of the North American Tax
group, she now also sits on the
steering committee for the Global
Tax working group.
Commenting on her new role, Kellie
said she is honoured and hopes she
can live up to the high standards set
by her predecessors, which include
Roy Deaver from Moss Adams.
“Being a contributing member of
these working committees is very
valuable as it allows us to share our
global experiences from which we
develop thought leadership, identify
trends and build core knowledge
for our international teams. I highly
encourage anyone that has an
opportunity to volunteer for posts
like this to say “Yes”. It expands your
skill set and provides a platform to
share your input on Praxity initiatives
with the global leadership teams.”
For more information, please visit
www.praxity.com
Golf is at the heart of Gleneagles,
home to three championship golf
courses and proud host of the
2014 Ryder Cup. In 2019, Gleneagles
will stage the Solheim Cup - the
biannual event where Europe’s female
golfers will be pitted against their
US counterparts.
Praxity guests can tread the same
turf as legends on the PGA Centenary
Course, designed by esteemed golfer
and course architect, Jack Nicklaus,
tee-off on the King’s Course, which
predates the hotel and has certainly
stood the test of time, or test their
wits and love of the game on the
Queen’s course.
So, if you know a Birdie from a
Bogey, sign up to the Praxity Golf
Tournament. Mirroring the format
of the Ryder Cup, Praxity golfing
enthusiasts are still in with a chance to
play the three championship courses
(see back page on how to apply).
There will also be a four-person
scramble tournament, which promises
to be a less taxing and pressurised
game for golfing newcomers or those
that don’t make the ‘Ryder Cup’ cut.
Elected team Captains Kelly
Bernakevitch (Rest of the World) Tim
Browne (UK) and Todd Van Der Wel
(US) and Arno Van Der Wijk (Europe)
are all seeking tour rookies for both
tournaments. Each captain will make
his team selections at the conference.
If golf isn’t your thing, don’t worry.
Falconry, fishing, cycling, deer stalking
and off-road driving are among the
diverse country pursuits guests
can partake in on the grounds of
Gleneagles. Unless you get roped
into caddying, seek some sanctuary
and relax at the hotel's award winning
Spa. Sink down into the striking vitality
pool, sit back in the sauna and steam
rooms and then relax by the tranquil
pond in the courtyard garden.
Registration for the Global Conference
will open in June. Act fast, as you
won’t want to miss out on this unique
opportunity to stay in this world-
famous resort! For more information,
please visit
www.praxity.com/conferences
The main focus of this year’s spring
conference was the various UK
working group meetings, which were
well attended. A new working group
focusing on the legal sector met for
the first time, and specialist meetings
were also hosted for the audit, tax,
corporate finance, financial services,
charities, business development,
and IT groups. Among the range of
issues addressed were the new UK
GAAP rules, a number of technical tax
matters, new pensions legislation, the
state of the UK transaction market,
portals for client collaboration, and
maximising value from our websites.
Given the timing of this conference,
the UK referendum on EU
membership (see pages 4 - 7) was
debated long and hard. Many of
the working groups spent time
considering potential implications
with all groups focusing on how
Praxity member firms can increase
workflows. A number of partners from
other countries, including Germany,
Italy and the US joined the conference
participating in the working
party meetings.
To conclude the conference, the UK
managing partners met to discuss:
• Future UK conferences
• The potential for new UK firms to
join Praxity
• Sharing of best practice for payroll
services
• The appetite of UK members to
offer probate services which is now
possible for accounting firms
• Proposed new EU data protection
rules.
The next UK meeting will take place
in October 2016. To book your place,
please visit www.praxity.com/
conferences
Save the dateUK Autumn Conference
18 to 19 OctoberCoventry
North American
International Tax Conference
16 to 17 NovemberNew Orleans
14 HUB 2016 ISSUE #2
9. 16 HUB 2016 ISSUE #2 HUB 17
NEWS FROM PARTICIPANTS NEWS FROM PARTICIPANTS
Australia’s tougher
new stance on multinationals
Multinationals have been under increased scrutiny by legislators and
the public alike. To step up its efforts in this area, Australia’s Federal
Government has introduced new legislation, and the Commissioner of
Taxation, Chris Jordan has vowed that the Australian Tax Office (ATO) will
take a tougher stance on multinationals operating within Australia.
If your client is a foreign multinational with global income of A$1billon or more
operating in Australia, it’s important that you’re aware of the following new
tax rules.
Effective from 1 January 2016, the Multinational Anti-Avoidance Law
(MAAL) strengthens existing anti-avoidance rules, highlights William Buck’s
Senior Manager in their Tax Division, Avinesh Naidu. “The MAAL is aimed
at multinationals that conduct business on what is commonly known as an
‘operate here and bill overseas business model’. In other words, they derive
revenue from Australian customers, yet the income is treated as income of the
overseas entity and is not taxable income in Australia.” A number of conditions
apply, which Avinesh documents in a comprehensive article William Buck
recently published online.
“If you fall in scope of the new law, immediate action needs to be taken,”
says Avinesh. “There is a principal purpose test which objectively looks at
whether the ‘principal purpose’ is to obtain a tax benefit in Australia or another
jurisdiction. If you’ve been contacted by the ATO, seek professional advice
immediately. Being proactive could actually be a benefit and reduce any
potential tax penalties.”
A Country by Country (CbC) reporting regime has also been introduced and
applies to income years starting on or after 1 January 2016. Multinational
groups with global turnover of more than A$1billon will be required to prepare
CbC reports.
For further transparency, multinational entities which are part of a group with
turnover of more than A$1billon will need to give the Australian Taxation Office a
general purpose financial statement if they do not lodge one with the Australian
Securities and Investments Commission (ASIC). This applies for years beginning
on or after 1 July 2016.
For the full story, please visit www.williambuck.com and for advice on any
of these issues, please contact a local Praxity Participant that specialises in
multinational tax. Use Praxity’s My Site to search and connect with an
Australian tax expert.
Reversing the
resource curse
“How can the extractive industry
assure a fairer distribution of value?”
That was the question Mazars raised
in its new #CSVContest launched
at the end of February. Open to
everyone, the contest forms part of
the firm’s wider ‘creating shared value’
programme highlighted this year in
the Group’s Annual report. For the
full story and to view the prizewinning
submissions, please visit http://
sharedvalue.mazars.com/about-
shared-value/
Leading change for women & girls
Kaufman Rossin’s Marketing Principal, Janet Kyle Altman, has been appointed
Board Chair of The Women’s Fund Miami-Dade, an organization that creates
equal opportunity, access and influence for women and girls through grant-
making, research, advocacy and education. Expressing her honor at the two-
year appointment, Janet said: “I’m passionate about the work we do at The
Women’s Fund. We know that changing the lives of women and girls makes life
better for our entire community.”
www.kaufmanrossin.com
brand reigns
The power of box office success
cannot be underplayed when it comes
to global brand dominance. Following
the record-breaking success of
Star Wars Episode VII ‘The Force
Awakens’, Disney is back on top of
the 2016 Global 500 power listing
compiled by Brand Finance
In the annual report, which ranks
thousands of the world’s top brands
based on familiarity, loyalty, promotion
and marketing investment, Disney
knocked last year’s box office winner -
Lego - off the top spot.
Much of Disney’s success can be
attributed to the success of the latest
Star Wars release. Having broken
countless box office records, grossing
nearly US$2 billion and generating
over US$700 million in merchandise
sales, the entertainment company is
reaping the rewards of its US$4 billion
acquisition of Lucasfilms made in
2012. Brand Finance now estimates
the value of the Star Wars brand to be
US$10 billion.
Last years number one power
brand, toymaker Lego A/S, slipped
into second spot. Lego’s refusal to sell
bricks in bulk, a policy the company
has now reversed after Chinese
Look how far IFAC
SMPC has come
FIDES partner Andreas Noodt
has just completed his second
and final rotation as a member
of the International Federation of
Accountants Small and Medium
Practices Committee (IFAC
SMPC). He reflects on what’s been
accomplished by the volunteer
members and task forces during
the last six years and the global
recognition that IFAC has
achieved, particularly with regard
to standard setting.
Andreas highlights: “As the voice of
small and medium-sized practices,
the IFAC SMPC is charged with
an important task in our worldwide
profession. In recent years the
development of the profession
has been shaped by high pace of
change in standard setting as well as
increasing influence on the part of the
regulatory authorities.
A firm believer that the interests and
concerns of those members of the
profession who do not have sufficient
resources to work alongside technical
committees or provide individual
comments to standard setters are
given just as much consideration,
Andreas adds. “An SMP’s opinion is
just as valid and these practitioners
constitute a large majority of the
2.8 million accountants worldwide.
The committee can exert influence
that could not be achieved by single
SMPs in isolation.” Today, the SMPC
comprises 18 members from different
countries, most from SMPs.
Since its formation 10 years ago, the
SMPC has developed a number of
resources and tools, and continues
to speak out and represent the views
of SMPs to the international standard
setting boards. “Retaining this
influence going forward is important
for the future positioning of the
profession,” says Andreas.
For the full article as the source for the
interview, please visit www.ifac.org/global-
knowledge-gateway/practice-management/
discussion/andreas-noodt-looks-back-last-
six-years
FALK'S oak jubilee
This year, German firm FALK & Co is celebrating its 80th year, adopting
the slogan ‘FALK 8.0 tradition and future’.
One of the founding members of Praxity, FALK, is using the occasion to
reflect on its professional expertise and the part it has played in supporting
midsized enterprises, known locally as ‘Mittelstand’, the driving force of the
German economy.
To mark the landmark oak jubilee, FALK is inviting more than 300 business
partners to its headquarters in Heidelberg on 23 June 2016. The special event
is being devoted entirely to digital transformation, with top key note speakers
including the CTO of SAP Rolf Schuhmann, the CEO of SAS Dachregion
Wolf Lichtenstein (the world’s largest non-listed IT company), renowned big
data expert Prof. Dr. Frauke Kreuter and Guenter Oettinger, Head of IT at the
European Commission in Brussels.
Reflecting on how the profession has changed since FALK’s inception,
managing partner, Gerhard Meyer comments: "We have steadily evolved from
being a local firm where our core business was audit and tax services to a
glocal multi-disciplinary business service provider. Following decades
of successfully supporting clients from the German and Anglo
business world, FALK is expanding rapidly into the Asia Pacific
region and realizing a number of attractive business opportunities,
which we’ll also be celebrating at the anniversary event.”
For more information, please visit www.falk-co.de
Straight talking
sales advice
PM+M has launched a new business
sales website, giving owners of
enterprises all the practical support
they need to prepare for a sale, find
the right buyer, get the most value
and close the deal.
Jim Akrill, corporate finance partner
at PM+M, says: “Our new website
concentrates on giving owners a
better understanding of what is
involved and how to position their
business in anticipation of a sale. Our
approach is simple and we use our
years of experience to guide, support
and advise the seller through every
stage of the process.
Visit the new website at
www.pmmbusiness-sales.co.uk
Tax App chock
full of features
William Buck’s new Tax App allows
users to calculate tax outcomes at the
push of a button, look up key dates
and contact their advisor directly
through the App. Available for Android
and Apple devices, the App has
received positive client feedback with
users raving about the GPS powered
logbook and integrated receipt
management tool.
Discover more at
www.williambuck.com/Tools/
William-Buck-App
JanetKyleAltman
AvineshNaidu
artist Ai Weiwei called it an act of
censorship, and a fine by German
regulators on product discounting,
affected it’s status. Other top 10
powerful brands included L’Oreal SA,
Nike Inc. and Coca-Cola Co.
In terms of financial value, Apple
maintained its number one spot, with
value up 14% thanks to the success
of the iPhone 6. Google surpassed
Samsung to reach second place at
$94 billion.
The report also singled out a
handful of Chinese brands for their
strong performance. Messaging app
WeChat boosted the brand value of
Tencent Holdings Ltd. by 83%, while
real estate company Evergrande Real
Estate Group Ltd. more than doubled
the value of its brand.
It wasn’t such a good year though
for Volkswagen AG. Hurt by the
emissions scandal, its brand value
plummeted by US$12 billion.
Meanwhile, Allianz has held onto
its pole position as the most valuable
insurance brand this year’s Brand
Finance Global 500 for the third year
running. It was the only insurance
company to be included in the world’s
Top 50 listing, which the company
attributes to its financial resilience and
flagship ‘customer centric’ brand.
For the full story, please visit
www.brandfinance.com
10. 18 HUB 2016 ISSUE #2 HUB 19
Chairman of Mazars South Africa, Hilton Saven
took up the post of Praxity’s Chair at the start of
2016, succeeding Rick Anderson. Passionate
about business and commerce, if he hadn’t
been an accountant, Hilton says it is likely he
would have worked in real estate, a sector that
he continues to advise a number of clients on.
About me… I qualified as a chartered
accountant in 1978, having joined the
firm - known then as Musikanth Cohen
and Fine - in 1975. Over the years the
practice evolved, becoming Moores
Rowland, and then integrating with
Mazars in 2007. Yet, to all intents and
purposes, I have spent my entire working
life at the same firm. Back in my day, you
joined a firm as an undergraduate and
then completed your Articles. I studied full
time towards my Bachelors of Commerce
degree before completing a Certificate in
the Theory of Accounting (CPA) in 1977
on a part time basis. Working in South
Africa has been relatively unique, as there
have been turbulent and lean times. But
for committed people these provided a
springboard for success.
My first role model was…
Arthur Fine, one of the firm’s senior
partners when I joined the profession.
He encouraged and mentored me, giving
me the scope to grow. The importance
of trusting someone and handing over
responsibility is very important. When
you are thrown in the deep end, you
mature quickly. I’m convinced that these
steep learning curves afforded me the
opportunity to run the practice at such
a young age.
Auditing provides… a solid career
foundation, enabling you to work with
a whole host of clients, giving you the
breadth of knowledge required in today’s
business world. Whatever area you end
up specializing in, it’s hugely important to
really understand what makes a business
successful or not, which auditing provides.
Five
minutes
with...
Hilton Saven
FEATURE
Personal pivotal moments…
include transforming from a Cape Town
practice to a national partnership. It gave
our firm a national identify, setting us apart
from others. Joining Mazars in 2007 was
equally important as it moved us from a
national to international practice.
Accountancy continues to
change… Much of this has been
a result of shifts in the regulatory and
operational landscape. Back when I
started in the profession, roles were
clearly defined. We honed our skills.
These specialist skillsets continue to be
in high demand today. Now, technology
is changing the speed in which we
conduct business. Anticipating the future
and how technology will impact this is
the focus at this year’s Praxity Global
Conference in Scotland.
Success is… maintaining a happy
balance between work, play and family.
Keeping all of the balls in the air can be
challenging. As a leader of a firm, I have
a duty to help people reach their full
potential. By creating a foundation that
others can build on is good stewardship
and culture, value and diversity are what
make an organization sustainable.
Reading is one of my favorite
pastimes… I especially enjoy a
good historic autobiography. Right now
I’m reading about Winston Churchill’s
formative years spent in South Africa. I
also enjoy watching sport, keeping myself
fit at the gym, and playing golf. Like many,
I’m looking forward to playing in the
Gleneagles Ryder Cup tournament at the
2016 Global Conference.
Being part of Praxity… is a big
responsibility to Mazars. Although we are
the largest member firm within the alliance,
we must also consider how we support
other members and serve the needs of
our clients. The relationships between
many of our firms go back years. That’s
the value each and every firm brings to the
Praxity Alliance.
Face-to-face networking is…
absolutely essential in our line of work.
The social interactions gained from
attending a conference helps you put
a name to a voice. It gives you the
confidence that when you refer a client to
someone overseas, you know that they
will understand the importance of the
project, regardless of its size.
I’m motivated by… seeing client
organizations mature and ensuring that
they get value added services. That’s
been the most heartening aspect
of staying within the same firm, I’ve
witnessed and supported a number of
clients develop from seedling ventures
into listed companies.
AWARDS
Choice award finalist
William Buck was named a finalist in
two categories at the Financial Review
Client Choice Awards 2016. It’s the
first year the firm has submitted an
entry. The awards are judged purely
on client insights. Although they didn’t
win, being shortlisted was testament
to how much clients value William
Buck’s service, says Chairman Nikolas
Hatzistergos. “Staying true to our
Changing Lives promise, we will use
this feedback to keep improving our
service and having a positive impact
on our clients." www.williambuck.com
Keeping good company
What a year it was for ShineWing. Having won the ‘Rising Star Network’
International Accounting Bulletin accolade in October, the firm’s founder
and Chairman, Mr. Zhang Ke, ended 2015 with the recognition that he is
widely regarded as being top of his game.
The feature - Persons of 2015 Finance and Accounting Industry - compiled by
respected publication Accounting Messenger, selected ten outstanding persons
from China’s accounting and finance profession. As testament to Zhang Ke’s
influential standing in the professional community, he appeared alongside the
vice-president of the Chinese Institute of Certified Public Accountants (CICPA)
and secretary of the State Administration of Taxation.
According to the publication, Zhang Ke has “persistently advanced the
internationalization of ShineWing” and “created a shining Chinese accounting
brand on the international stage”.
As further kudos, ShineWing was invited to act as professional advisor
for the Top 100 Hong Kong Awards 2015. Mr. Roy Lo, Managing Partner of
ShineWing Hong Kong, was the only representative from the accountancy
profession to sit on the judging panel that recognises listed companies and
provides investors with authoritative and valued guidance.
For more information on these stories,
please visit www.shinewing.hk
LGBT diversity champion
makes national list
Lee Cartwright, managing partner at Mazars in Birmingham has been
named one of the 2016 Out at Work – Top 50 LGBT executives at
a recent dinner hosted by the European Diversity Awards. Lee, who
has been with the firm for 20 years, is proud to spearhead the LGBT
Champions diversity network at Mazars. He comments: “I am truly
honoured to have been nominated for this by a client, and to have
made the Top 50 list. Diversity makes for better decision making and
should be celebrated.” More at www.mazars.com
Keeping great company
At the 2016 In the Company of Women Awards, Kaufman Rossin’s Tanya
Ferreiro has been recognized in the “Business & Economics” category. One
of 12 trailblazing South Florida women to be recognized for their professional
and civic accomplishments, Tanya, who is a principal at the firm and leads the
firm’s non-profit practice group, shares her work passion and views on YouTube
saying: “Serving on the board of a foster care service and being able to share
my expertise has been a pivotal moment in my career as an auditor and has
been personally very rewarding.”
www.kaufmanrossin.com, view Tanya’s YouTube video here:
www.youtube.com/watch?v=bNkto-0wzzc&feature=youtu.be
TanyaFerreiro
MrZhangKe
Fired up
about fairness
Plante Moran has received a Torch Award
for Marketplace Ethics from the Better
Business Bureau of Chicago and Northern
Illinois. Achieving the award in the category
of companies between 1,000 and 7,999
employees demonstrates that the firm has
a widespread reputation when it comes to
quality and integrity.
More at www.plantemoran.com
Winning initiatives
South Florida Business Journal has
recognized Kaufman Rossin as one of the top
25 corporate philanthropists. During 2015,
the firm contributed more than $200,000 to
non-profit organizations in South Florida with
professionals getting involved in more than
250 organizations, many serving on boards.
In another recent accolade win, Kaufman
Rossin’s wellness program collected an
Excellence in HR Award.
www.kaufmanrossin.com
“When you
are thrown in
the deep end,
you mature
quickly.”
11. HUB 2120 HUB 2016 ISSUE #2
Good Fortune continues
to shine on Plante Moran
For the 18th consecutive year, Plante Moran has been named on Fortune
Magazine’s ‘100 Best Companies to Work For’ list, ranking at number 33.
The firm has received the accolade each year it has applied and is once again
the highest-ranked accounting firm on the list.
“We’re thrilled to once again be named one of Fortune’s ‘100 Best’,”
says Gordon Krater, Plante Moran’s managing partner. “The fact that
we’ve maintained our position on the list for 18 years is a testament to our
commitment to culture. Our culture is what sets us apart; it’s our secret
weapon. We must continue to nurture it, allowing it to grow and develop just as
the firm does.”
This emphasis on culture results in lower staff turnover, which ultimately
benefits clients because staff members develop a deep knowledge of
businesses through continuity and experience. Aside from their professional
roles, the firm identifies that staff members are people with family, personal and
community commitments that extend beyond work.
“We realize that ‘psychic income’ is priceless,” Gordon adds. “People
perform better when they enjoy their environment and the people with whom
they work.”
For the full story, please visit www.plantemoran.com
William
the TP
Winner
Finance Monthly has named BKD’s
Principal, Will James, US Transfer
Pricing Advisor of 2015.
The award - one of the publication’s
annual Tax Awards - is bestowed
on individuals and firms that have
excelled in their particular areas
of expertise in the past year.
Honorees are selected based
on a comprehensive research
and nomination process by the
publication’s editorial team.
One of four award recipients in North
America for 2015, Will leads BKD’s
transfer pricing practice. He has been
a transfer pricing consultant since
1992, working primarily with large
international accounting firms and
advising clients on various transfer
pricing and tax valuation issues.
Commenting on the accolade,
managing partner of the firm’s
international tax division, Rob Wagner
says: “This is a highly prestigious
award and winning it is testament to
Will and his teams’ success. It shows
their dedication toward providing
unmatched client service to their
transfer pricing clients.”
A frequent speaker on transfer pricing
topics at outside tax seminars, Will
is a familiar face to many Praxity
participants. He currently serves
as the Global Chairman of Praxity’s
Transfer Pricing Working Group
and regularly liaises globally with TP
specialists throughout the world. As
always, Will is attending Praxity’s
Global Tax Conference, so look out
for him in Vienna.
For the full story, please visit
www.bkd.com
Celebrating dedication to diversity
DHG has been recognized for its outstanding commitment to diversity,
receiving the Dr. Jane S. Redmond and PepsiCo Commitment to Diversity
Award. The firm’s partnership with the Haslam College of Business was
among the many nominations put forward. Last year, DHG was sole sponsor
of the AIM Academy - a program designed to introduce high school students
from diverse backgrounds to accounting. The firm also hosted a number of
programs with the University of Tennessee to prepare student leaders for
success in the workplace. Stacey Ford collected the trophy from Dr. Jane S.
Redmond and Stephanie Kit, University of Tennessee. www.dhgllp.com
AWARDS
WillJames
BKD Technologies
gets VAR Star
Each year, Bob Scott - executive editor of
The Progressive Accountant - honors the
top 100 accounting software publishers
for their exceptional accomplishments in
the field of mid-market financial software.
Being named to the esteemed Value-
Added Reseller (VAR) Stars list is deemed
the ultimate distinction. In 2015, BKD
Technologies made the cut.
www.bkd.com
Training tribute
For the third consecutive year, BKD has
been named to Training magazine’s Top
125 list. The ranking benchmarks the
effectiveness of employee development
programs and how closely these are
aligned to business goals and objectives.
Greg Cole, BKD’s director of growth and
development, comments: “This award
reflects the passion we have for the
continual pursuit of excellence.”
EXPANSION
Meet the Lion of Long Island
In January 2016, WeiserMazars LLP acquired Lion & Company CPAs, LLP,
a Syosset, NY accounting and advisory firm.
The acquisition significantly expands WeiserMazars’ Entrepreneurial and Health
Care Consulting services with the addition of company founder Marc H. Lion
(CPA, CFP) and his team of professionals.
Marc has become a Partner with the firm – he and his team are now located
in the Long Island office of WeiserMazars. Marc possesses over 25 years of
experience assisting clients in tax, business consulting, estate, financial and
retirement planning. He is a member of the National CPA Health Care Advisors
Association (HCAA), where he served as President of the executive committee.
“We are delighted to have Marc Lion and his team join our growing
Entrepreneurial Services Group,” said Andrew Cohen, Office Managing Partner
of WeiserMazars Long Island Practice, a welcome echoed by new Chairman
and CEO Victor Wahba (see page 8). “The team’s health care experience
complements our capabilities in maintaining our position as a leader in the
Health Care industry,” says Victor.
For the full story, please visit www.weisermazars.com
Four more enter the MNP family
Canadian Participant firm MNP has made four new acquisitions already this
year, marking one of the busiest beginnings for the firm in its rich history.
The national accounting firm, which now ranks as the fifth largest in Canada,
has continued to expand its footprint through targeted mergers. Its most
recent comprise:
• Boosting MNP’s Personal Insolvency division (MNP LTD;) by acquiring PwC
Debt Solutions, the Atlantic Canada Personal Insolvency practice of PwC
Canada (PricewaterhouseCoopers LLP), effective March 1, 2016.
• Expanding the firm’s cybersecurity offering by merging with NCI, a full service
cybersecurity services and solutions firm founded in 2000 by IT professionals
Danny Timmins (CEO & President) and Eugene Ng (CIO). The merger became
effective April 1, 2016.
• Merging with R.K. Shaver, Chartered Professional Accountants, a St.
Catharines-based accounting firm that shares the same values and builds on
MNP’s strategic plans for growth in the Ontario area.
• Establishing a presence in the Brockville area through the merger with
Bennett McMahon Stillar, Chartered Professional Accountants (BMS), effective
January 1, 2016.
New CEO Jason Tuffs credits MNP’s strategic mergers and acquisitions, organic
growth, value-added services and corporate culture for catapulting the firm
to lead with the highest year-over-year growth rates of any of Canada’s top
accounting firms for nearly a decade. “Our unwavering focus is always on our
clients and meeting their evolving needs. This means having the resources, the
talent and being in strategic markets, be they rural or urban, while retaining our
culture and values. All of these mergers will allow us to build on our existing
strengths while ensuring our clients have access to a full breadth of services and
are protected against evolving threats, for example cybersecurity and financial
insolvency,” says Jason.
For full details about these acquisitions, please visit MNP’s news site at www.mnp.ca
Taking a long-
standing
relationship to the
next level
Washington-based consulting firm
Contineo has combined with Moss
Adams to expand the firm’s reach
within the financial services industry.
The union became effective at
the start of 2016. Craig Sanders,
president and CEO of Contineo joined
Moss Adams as a partner and during
January 14 Contineo professionals
integrated into an established Moss
Adams office in Spokane and remote
hubs within the firm’s footprint.
A boutique firm founded in 1999,
Contineo has expanded to provide
professional services to hundreds
of companies in 27 states across
the country. The firm specialises in
IT security, regulatory compliance,
and internal audit services within the
financial services market. In addition,
Contineo offers outsourced IT
services, which Moss Adams did
not absorb.
“We’ve enjoyed a good relationship
with Contineo for a number of years,
and this combination is a great
opportunity to increase our capacity
to serve financial services clients,”
comments Jeff Green, national
practice leader for the financial
services practice at Moss Adams.
“Joining with Moss Adams felt like a
natural step in our growth strategy,”
adds Contineo’s CEO Craig Sanders.
“We’re excited to begin this new
stage and be part of one of the
leaders in the consulting and financial
services industry.”
Please visit www.mossadams.com
for the full story.
12. 22 HUB 2016 ISSUE #2 HUB 23
A new firm is born
Pirola Corporate Finance has been
formed as a result of Pirola’s majority
capital share buy out of Partners &
Co. The deal for the new corporate
finance company was finalised in
January 2016 and is operating initially
with a team of 25 well-established
corporate finance experts.
Ludovico Mantovani and Mario
Morazzoni formed Partners &
Co., in 2015, after the two gained
considerable experience at Mazars.
Both founders have been
appointed to the company’s new
Board of Directors.
Renamed Pirola Corporate Finance
following the acquisition, the new
company will continue to specialise
in providing advice on finance
structures, mergers & acquisitions,
capital market transactions, business
restructuring and appraisals.
For more information, please visit
www.pirolapennutozei.it
EXPANSION
Chinese merger boosts
financial services capabilities
In December 2015, Mazars finalised a merger with Chinese audit firm
ZhongShen ZhongHuan, further strengthening the firm’s unique integrated
partnership model that has proved successful in the Chinese audit and
consulting sector since 1997.
The merger brings together more than 1,800 professionals, including 83
partners, from 15 offices across mainland China. Recognised as a leader in
Financial Services - notably in the bank and insurance industries, Mazars will
combine its expertise with ZhongShen ZhongHuan’s market reach over the next
two years, in readiness for the next mandatory audit rotation for banks. In recent
years, ZhongShen ZhongHuan’s annual growth has averaged between 15
and 20%.
Philippe Castagnac, CEO of Mazars and Chairman of the Executive Board
comments: “This operation in China is not only a significant boost to Mazars’
presence and capacities, but also an undertaking for additional development
within one of the world’s leading economies.” ZhongShen ZhongHuan will be
able to offer significantly improved support through the Mazars partnership
for Chinese clients that are pursuing internationalisation, in particular major
public sector accounts and investments projects under the ‘One Belt One
Road’ policy.
With more talents joining in 2016, China is expected to exceed 10% of the
Group turnover at Mazars, ranking it amongst the 10 largest accounting firms
in China.
ZhongShen ZongHuan’s Chief Chartered Accountant, Mrs. Zhang Liwen,
has been appointed to the Mazars Group Executive Board, while Chief
Partner of the firm, Mr. Shi Wenxian, has been appointed to the Mazars Group
Governance Council.
For the full story, please visit www.mazars.com
Century-old firm
teams with DHG
Effective 1 June 2016, Stegman &
Company of Baltimore, Maryland, is
joining forces with DHG.
Stegman & Company, the oldest
Maryland-based CPA firm, recently
celebrated its 100th anniversary.
Founded in 1915, it has long served
Welcoming in the
Year of the Monkey
To usher in Chinese New Year 2016,
ShineWing got actively involved
in several community initiatives. In
keeping with tradition, team members
handed out red packets during the
annual Charity Laisee Campaign
staged by the Hong Kong Christian
Service, symbolising blessings to
the recipients and showing their
support to people in need. After the
event, to show their respect for the
environment, staff joined the Lai See
Reuse and Recycling programme
collecting hundreds of red packets,
which help to provide much needed
work opportunities for the disabled
community. www.shinewing.hk
DHG all heart
DHG employees came out in full force to support the firm’s ‘Go Red’ campaign
on Friday 5 February, with the firm pledging to donate $10 to the American
Heart Association for every person that answered the call and not only wore red
but shared their photos on social media. “DHG wholeheartedly supports the
American Heart Association and its efforts to build healthier lives,” said Tricia
Wilson, President of the DHG Foundation. Tricia presented a cheque for $5,000
to the organisation to help fund research and education linked to heart disease
and strokes.
Setting CSR
sights higher
Last year Garbutt + Elliott employees
went all out raising money for two
local charities. Thanks to ice bucket
challenges, two 10k races, cake bake
offs, dress down days and quizzes,
the firm’s nominated charities -
Candlelighters and York Mind - split
£11,000 equally. The donations
form part of Garbutt + Elliott’s wider
corporate social responsibility activity,
which includes over £25,000 of
work carried out pro bono for charity
clients. In 2016, they’ll be supporting
two new organisations - The Yorkshire
Breast Cancer Haven and Special
Stars Foundation, and have set a
fundraising target of £15,000.
www.garbutt-elliott.co.uk
Happiness is
a wagging tail
Ever wonder how you can improve
morale and limit stress in your
workplace? Volunteers with Aronson
LLC’s March Charity of the Month,
People Animals Love (PAL), recently
stopped into their DC Metro office
for a much enjoyed session of canine
stress relief. The trained therapy dogs
paraded through the office, boosting
spirits during the U.S. busy season.
The Aronson Foundation sponsors
a different charity each month that
is nominated by its team members.
Aronson team members raise money
in a number of ways including
“Denim Fridays” contributions, and
the Aronson Foundation matches all
funds. www.aronsonllc.com and
www.peopleanimalslove.org
Zhang LiwenShi WenxianHuang GuangsongPhilippe Castagnac
a diversified client base in the greater
Baltimore and Mid-Atlantic region.
“DHG is enthusiastic to welcome
Stegman & Company’s people, their
rich history and their record of client
service and industry leadership. Their
significant experience and leadership
within the financial services, private
client services, construction, and
technology & life sciences industries
will be an asset as we expand further
in the Mid-Atlantic region. Together
we will focus on building valuable
careers with our people and helping
our clients achieve their goals,” says
Matt Snow, CEO of DHG.
Liz Gantnier, President of Stegman
comments: “We are proud of our 100
year history. Joining forces with DHG
represents our continued commitment
to client service and technical
expertise, a firm just as committed
to these principles. Together we will
expand the services we offer to clients
throughout our region.” All eight
current Stegman directors, including
Liz, will become directors and
partners at DHG.
The expansion brings the total
workforce numbers of DHG in the
Maryland and the Greater Baltimore
area to approximately 250.
For the full story, please visit
www.dhgllp.com
GALLERY
13. Play like a PGA pro
The Ryder Cup has become one of the world’s
greatest sporting contests with 24 players from
Europe and the United States going head-to-head in
match play competition.
Like the venue for the 2014 competition, Gleneagles
is the backdrop this September for our very
own Ryder Cup format tournament. Closing the
2016 Praxity Global Conference, delegates and
companions will play three Gleneagles championship
courses. It promises to offer the same drama,
tension, camaraderie and sportsmanship.
You can still apply and qualify for the UK, Europe,
US and ‘Rest of the World’ teams. Fancy an easier
game or new to golf? Enter our four person scramble
tournament to ensure you don’t miss out.
If you fancy yourself as the next Palmer, Nicklaus,
Player or Ballesteros, swing by the Praxity
Conference inbox and register your interest now.
conferences@praxity.com
