There is a lot of potential for growth in the industry within which we operate. Globalisation is opening opportunities for accounting firms to offer cross-border services. This may include international tax advisory, transfer pricing, and support for multinational clients. Having strategic partnerships and collaborations and being agile in the provision of services in compliance with statutory and regulatory changes will give us a push to the next level.
Building and maintaining strategic partnerships and alliances with other firms and individuals from across the globe that assist in building our capacity to handle assignments effectively.
We are working on having a presence in most countries across sub-Saharan Africa and globally through Strategic partnerships and affiliations.
1. Being able to acquire high-value local and international clients in a very competitive environment dominated by market leaders. 2. Pricing of our services can be a challenge when we cannot tell the market rates, so we lose potential clients due to underquoting or being considered costly.
Less than 10%.
Audit and Compliance Services Tax Advisory Accounting Payroll Management Due diligence Business Planning Capital raising Valuations Feasibility Studies Business Restructuring Employer of Record
We are confident that BOKS will give us international exposure to clients across the globe. We also hope to network with other professional firms across the world and, as such, be able to get referrals for job opportunities.
We look forward to BOKS having members in most Countries across the globe.
Small and Medium-sized Enterprises (SMEs) looking for assistance with bookkeeping, payroll, tax compliance, and financial statement preparation. Nonprofits and NGOs looking for audit services for their Donor funded projects.
We have been contracted to conduct due diligence on an organisation operating in a different continent.
1. Through affiliations with other professional firms 2. Referrals 3. Through seeking prequalifications/framework agreements
We are an accounting firm that offers audit and tax advisory services.
In audits, we will see an increasing reliance on automation and AI. Extensive regulations will reduce the players – the audit firms that deal with audits, especially public sector audits. Allowing mid-audit firms to recruit mid-public clients that the Big 7 cannot or cannot respond to and serve. Increase in fee for audit engagements. As a result, it will push ahead other related services: M&A, DD, valuation structure including taxes, IT cyber security and forensics. Simple services such as statutory audit, tax compliance, maintaining accounting records, HR, and bookkeeping will be outsourced to vendors that specialize in each service.
M&A. Cross-border services. Developing cyber security, IT, and forensic services. Approaching the non-Jewish business sector. Developing comprehensive capabilities in the scope of business services and business consultation. Providing corporate and commercial legal services (when regulations will approve it).
5 offices in Israel. Doubling turnover. 50% of turnover will be generated from business services.
Recruiting professional staff at all levels.
Approx 20-25%
Transaction services and integration. Financial and accounting Due diligence. Tax due diligence. Valuation. Trusts. Purchase price allocation in a business combination. Arbitration. Expert report to the economic court.
The ratio of increased ranking and the scope of global services by members.
Merge globally or acquire other global associations and move to be a network in the Big 10.
Mid-size clients—public and private, some with international scope of operations—have high business integrity and trust in our firm’s professional services.
Audit of MA Aporia Limited 2023 IFRS financial statements – a subsidiary of a large global organization headquartered in the UK and USA. Audit of Stickit Technology Limited consolidated financial statements file with a prospectus in the Canadian stock market.
By other accounting firms. BOKS International members. Our clients.
Medical devices and services. Real estate.
At SPCM, our foundation rests firmly on four fundamental pillars: Sincerity, Professionalism, Commitment, and our guiding motto. These pillars serve as the bedrock of our operations, guiding us towards success while instilling in us a set of core values driven by passion. Within our professional sphere, we've cultivated a familial atmosphere within our firm, fostering a sense of belonging and camaraderie among our team members. As a comprehensive provider of financial and legal services, all housed under one roof, we prioritize ensuring that every aspect of our clients' needs is meticulously addressed. Our goal is not just to fulfill their requirements but to build robust and enduring relationships between our clients and our firm. Likewise, we provide services right from generating a PAN card to litigations at Supreme court level everything under one roof. This commitment to holistic service and nurturing client relations forms the cornerstone of our approach at SPCM.
In five years, SPCM aims to solidify its position as a trusted leader in the financial and legal services industry, renowned for its unwavering commitment to excellence, integrity, and client satisfaction. We envision ourselves as the go-to destination for individuals and businesses seeking comprehensive and personalized solutions to their financial and legal needs. Our vision includes expanding our service offerings to encompass emerging areas of demand, leveraging cutting-edge technology and innovative strategies to deliver unparalleled value to our clients. We aspire to foster a culture of continuous learning and growth within our organization, empowering our team members to thrive professionally while maintaining a strong sense of camaraderie and shared purpose. Additionally, we aim to strengthen our presence in both local and global markets, forging strategic partnerships and alliances to enhance our reach and impact. Through these efforts, we seek to not only meet but exceed the expectations of our clients, earning their trust and loyalty for years to come. Ultimately, our vision for the next five years is to uphold the highest standards of professionalism, ethics, and service excellence, positioning SPCM as a beacon of integrity and reliability in the financial and legal services landscape.
One of the biggest challenges is keeping pace with rapidly evolving regulatory requirements and changes in accounting standards. This entails staying updated with complex and frequently changing tax laws, financial reporting standards, and compliance regulations, both domestically and internationally. Failure to adapt to these changes can lead to non-compliance issues, penalties, and reputational damage. Another significant challenge is managing client expectations and delivering high-quality services amidst increasing competition. Clients often demand more personalized and value-added services, requiring firms to invest in technology, talent, and resources to meet these evolving needs while maintaining cost-effectiveness. Additionally, attracting and retaining top talent in a competitive job market can be a persistent challenge for chartered accountancy firms. Skilled professionals are in high demand, and firms must offer competitive compensation packages, opportunities for career advancement, and a supportive work environment to attract and retain the best talent.
Currently around 5% of our work is international. However, there is a strategic intention to expand and diversify operations beyond the current geographical boundaries. We aim to broaden our reach on a global scale, indicating an aspiration to engage in more international endeavors and increase the proportion of work conducted internationally over time.
At SPCM and Associates Chartered Accountants we offer a broad range of advisory services having experts in each field. These include:
BOKS International, as a member of one of the top 20 Accountancy alliances globally, provides an exceptional platform for us to spotlight our services on a worldwide stage. This affiliation not only elevates our visibility but also offers us the opportunity to establish a significant presence within international forums. By participating in such forums, we can engage with new professional leaders and experts, facilitating valuable networking opportunities. Moreover, this exposure to diverse perspectives and practices across different regions presents a fertile ground for continuous learning and growth. It enables us to exchange insights, best practices, and innovative approaches with peers from around the world, enriching our knowledge base and enhancing our capabilities. Thus, our involvement with BOKS International not only amplifies our reach but also opens doors to a wealth of collaborative possibilities, positioning us for sustained success in the global arena.
In five years, BOKS International could likely have significantly expanded its global footprint, with a presence in more countries and a broader network of member firms. This expansion may involve penetrating new markets, particularly in emerging economies, and deepening its roots in established ones. As a result, BOKS International could become even more widely recognized as a leading alliance in the international accountancy and advisory space. In terms of reputation, BOKS International may have solidified its position as a thought leader and influencer within the global accountancy community. This could be evidenced by increased participation in industry events, publications, and contributions to shaping regulatory frameworks and standards.
We boast a diverse and extensive clientele spanning across a multitude of sectors. Our client base encompasses manufacturers, traders, and service industries, reflecting the breadth and depth of our expertise in catering to diverse business needs. Additionally, we serve family offices, providing tailored financial and advisory services to support their unique requirements and objectives. Within the corporate landscape, we extend our services to both listed and unlisted entities, demonstrating our capability to navigate the complexities of regulatory environments and market dynamics. Whether it's advising on financial strategies, facilitating compliance, or offering strategic insights, we leverage our wealth of experience and industry knowledge to deliver value-driven solutions that empower our clients to thrive in their respective domains.
To effectively target clients seeking international services, we highlight on firm's expertise and capabilities in cross-border matters. Clearly define our Unique Selling Proposition (USP), emphasizing language capabilities, cultural understanding, and expertise in international tax laws. Develop targeted marketing materials that showcase our services like international tax planning, transfer pricing, and global compliance. Attend international conferences and events to network with potential clients and establish partnerships with global firms. Offer valuable resources and webinars on relevant topics. Finally, prioritize exceptional client service to generate positive word-of-mouth referrals within the international business community. These strategies will help position our firm as a trusted advisor for clients with global business needs.
As previously stated, our firm is dedicated to offering comprehensive financial and legal services, acting as a one-stop solution for all our clients' needs. To achieve this, we have assembled a team of experts proficient in various fields, ensuring that we can deliver specialized assistance across a wide spectrum of areas. Whether it's tax planning, compliance, legal representation, or strategic financial advice, our diverse team is equipped to provide tailored solutions to meet the unique requirements of each client. By harnessing the collective expertise and experience of our professionals, we aim to offer holistic support and guidance that enables our clients to navigate complex financial and legal landscapes with confidence and success.
The future of our company and the professionals that make it up is to reach the market of financial entities, especially the Closed Complementary Pension Funds that are regulated by the Superintendency of Banks.
Our main growth strategy is constant support to our clients, not only providing external audit services, but also increasing the financial advisory service, accounting outsourcing and internal audit.
We want to position ourselves as a medium-sized firm recognized nationally.
The biggest challenge is competing with well-known firms by achieving a position in the market.
Currently, it is minimal because the companies that have hired us with relationships abroad have been short-lived. We hope that with the relationship we currently have with BOKS International this will increase.
External audit, Internal Audit, Accounting outsourcing, Special procedures, financial and tax advice.
Obtain international representation to expand the market in which we operate.
We hope that the alliance will grow by having new members in other countries where it is not currently located.
In Ecuador, a company can only be audited for a maximum of 5 years. Therefore, for the external audit service there cannot be a typical client due to the legal obligation to change. Our typical client comes more along the lines of financial advisory and internal audit. These clients are mainly in the automotive line and vehicle financing.
For now, we have not had this request through our mail. We hope these service requirements come from our alliance with BOKS International.
Automotive Sector, Financial and Closed Pension Funds.
Consultancy.
Help local entrepreneurs to develop their business outside of China and help foreign companies to expand their markets or sourcing channels in China.
China is in a recession period, and it will last for 3-5 years. China is in a drastic structural period too for the former developing mode doesn't work now. Gain strength during period keep sustainable strategy to overcome the difficult period.
Drastic change has never occurred in China before. It needs time to find a new developing mode.
Nearly 90% of work relates to foreign-invested companies in China. But not too many cases that help local companies to go abroad.
Accounting-local GAAP, Local tax and its related CRS etc. Also Auditing and Assurance.
It can help its members to expand the market.
Expanded presence.
1. Foreign Rep Office in China; Such as lawyer Rep office and Trading Rep Office. 2. WFOE - Wholly Foreign Owned Enterprises in China, including Trading company, IT companies etc.
One of my customers is look for local one-stop solutions such as bookkeeping, tax filing, staff payroll and social security's etc. in Malaysia and Singapore.
Many customers are looking into Southeast Asia market, and they need local one-stop solutions such as bookkeeping, tax filing, staff payroll and social security's etc.
Local Tax, GAAP and Auditing, Local import and Export related Customs laws and regulation in China.
The increased global transparency mindset, including all government agencies in the U.S. and around the world, is dictating a greater need for complex, international legal services of the highest caliber. Every business and investor engaging in business deals will need to ensure that their conduct is on the right side of the law, regulations, and industry standards. As governments around the world ask for their fair share of tax revenues, it’s also critical to operate in a tax-efficient and compliant manner in every jurisdiction regardless of whether you are engaging in a simple or complex transaction, as failure to be compliant may come with stiff penalties.
We rely on our creative and flexible attitude as global thinkers and problem solvers to continually change with the markets’ needs. We believe these essential skills support us in being prepared to repeatedly deliver results that suit our clients’ needs, which are continually being adjusted in this volatile world. We recognize that current trends are towards fairness and justice from both a legal and tax perspective, and we are of the same conviction. With this in mind, we are building our talent and legal teams to 1) provide our clients with stronger contracts around intellectual property protection, navigate the constantly changing tax reforms and their effect on our clients, enhance our investigative and compliance skills to support rising disputes globally, and understand how to deliver equality in employment relationships and discrimination matters.
Our goal is to have two new partners join the firm each year over the next 5 years to strengthen and expand each of our core practice areas. We also plan to have at least one litigation partner join the firm within the next 18-months, if not before, who can support our expansion of the Dispute Resolution and Litigation Support practice into a complex, federal and international litigation practice. Additionally, we are planning to launch a Florida office.
As we expand our practice, a challenge is to remain committed to continuing to maintain our passionate dedication to each client; making each client feel like their project is always our priority and ensure quality control over all our work product
Almost every aspect of the work that we do tends to have both a domestic and international component. Often, the international aspect of a project translates into a domestic solution, and vice versa.
We provide domestic and international legal services. Our focus is tax, estate planning, corporate, dispute resolution, litigation support, and Asia-Pacific. We also have a quantitative analysis group, which includes transfer pricing work under the firm’s Tax Practice to support our domestic and international restructuring, transactions, and cross-border relationships for small to large family-owned businesses, family offices, and our multinational corporate clients.
The opportunity to have a global network of colleagues with whom we can collaborate on matters. It is priceless to have collaborators that are rendering accounting, tax/estate planning, and legal services at the highest calibre on our team
BOKS is on a trajectory to becoming one of the premier professional associations for networking and education with members on all continents supporting each other as a family.
ZLG is fortunate to have business and individual clients whom we would invite to dinner in our home. Whether an officer, board member, or family office manager, ZLG clients are from forward thinking business operators, individuals and family offices of varying sizes involved in diverse industries, but all seeking creative top notch legal services performed by their committed and carefully tailored enthusiastic professionals.
ZLG is involved in associations with a focus on international business, like BOKS, in which we meet clients from speaking engagements, writing articles, attending meetings and events, and simply building relationships with members. Also, ZLG’s clients and cooperative alliances around the world, whom we are dedicated to and maintain strong relationships with, routinely refer clients and projects.
Our firm represents a broad array of multinational clients on U.S. and Cross-Border transactions across almost all industry sectors.
The future of the accounting profession in Kuwait is promising, driven by key trends such as globalization, increasing regulatory complexity, data analytics, sustainability, taxation expertise, and a shift toward advisory services. Accountants in Kuwait should adapt to local regulatory intricacies, stay updated with taxation laws, and position themselves as trusted advisors. Embracing technological advancements, staying compliant with local regulations, and maintaining high ethical standards are essential for success in the profession. In Kuwait, the accounting profession is evolving towards a more advisory role, emphasizing trust, ethics, and expertise in local tax matters. Utilizing the combination of our expertise and our connections with the Ministry of Finance, we believe that our firm will be one of the leading firms in the market. In addition, Pillar 2 of the OECD's international taxation framework, which aims to establish a global minimum tax rate and prevent multinational tax avoidance, may indirectly impact Kuwait's taxation. Potential effects include the need for Kuwait to align with global tax standards, changes in how multinational corporations are taxed, adjustments in investment behavior, policy modifications, trade dynamics, and potential adaptations in double taxation relief mechanisms. The extent of impact will depend on global adoption and Kuwait's response. Considering our exceptional relationship with the tax authorities, we are confident that our firm in Kuwait will significantly expand in the market, and our growth will be extraordinary in the upcoming future. Abdulwahab AI Roumi & Co
Our growth strategy centers on our exceptional relationship with the Ministry of Finance in Kuwait and our proactive approach to Pillar 2 implementation, recognizing its impact on taxation in Kuwait. We prioritize client satisfaction, continuous learning, and expansion into new sectors while maintaining high service standards. Our global networking further enhances our ability to offer comprehensive tax services in a changing landscape.
In five years, our specialized taxation accounting firm in Kuwait aims to be a prominent and influential player in the field. We anticipate a diversified client base, expanded service offerings, expertise in Pillar 2, strong government collaboration, advanced technology integration, global reach, talent development, community engagement, and an unwavering commitment to excellence. Our vision is to provide comprehensive and innovative tax solutions while contributing to Kuwait's growth and development.
Our biggest challenge as a specialized taxation accounting firm in Kuwait is navigating the dynamic and evolving taxation landscape, both domestically and globally. This includes keeping up with changing regulations, the potential impact of Pillar 2, international taxation complexities, meeting evolving client expectations, ensuring data security, talent retention, competition, economic and political influences, global economic trends, and maintaining client confidentiality. While these challenges are significant, they also offer opportunities for growth and development as we adapt to better serve our clients. Such challenges are multiplied, keeping in mind our competitors with a well-established client base.
The percentage of our work that is international varies and depends on our clients' needs and the nature of their business operations. We cater to clients with diverse global interests, so a significant portion of our work is international. However, it's important to note that our primary focus is on providing tailored tax solutions and services to clients operating within Kuwait and its international business connections. We are equipped to handle a wide range of international tax matters, but the exact percentage of international work may fluctuate over time based on client requirements and the evolving global tax landscape.
Our business advisory services encompass a wide range of offerings. These services include tax planning and compliance, financial analysis and reporting, strategic internal controls and cybersecurity, feasibility studies, and customized solutions tailored to each client's unique needs. We aim to be a trusted partner, providing expert guidance and strategic insights to help clients navigate financial and operational challenges and achieve their business goals.
The main driver for being part of BOKS International was the opportunity to enhance our firm's capabilities and expand our global reach. BOKS International provides us with a strong network of like-minded professionals and firms in various countries. This affiliation allows us to offer our clients a broader range of international services and access to a wealth of expertise, ensuring that we can effectively address their global tax and financial needs. Joining BOKS International has also enabled us to stay updated on international tax developments, share knowledge with fellow professionals, and foster collaborations that benefit our clients. The network's commitment to excellence, ethics, and professionalism aligns with our own values, making it a valuable partnership that enhances our ability to serve our clients' interests in an ever-connected global business environment.
In five years, I foresee BOKS International becoming one of the top 10 firms with an expanded international presence. It will offer diverse services, leverage innovation and technology, establish itself as a thought leader, foster a collaborative culture, uphold ethical and professional standards, focus on client needs, engage in community initiatives, and have an increasing influence on international tax regulations. Talent development and a commitment to excellence will continue to be central to its mission. BOKS International is poised to be a valuable and influential resource in the global accounting and taxation landscape.
Our typical clients are businesses in Kuwait with a strong commitment to financial responsibility, compliance, and growth. They come from various industries, including medium to large enterprises. They value proactive tax planning, ethical standards, and long-term relationships with us. Our clients appreciate our collaborative approach and rely on our expertise and our outstanding connections to make informed financial decisions in an evolving financial and tax landscape.
To attract clients seeking international services, we employ a strategic approach that includes showcasing our specialized expertise in international taxation, actively participating in networks and associations, encouraging client referrals, collaborating with experts, participating in global tax initiatives, offering tailored solutions, and providing ongoing client support. These efforts help us connect with clients seeking international tax and financial services by demonstrating our knowledge, capabilities, and commitment to their unique needs.
Yes, our accounting firm specializes in taxation services, with a particular emphasis on providing expert guidance in tax planning, compliance, and advisory services. While our primary focus is on taxation, we serve a diverse range of clients across various sectors and industries in Kuwait. Our specialized services cater to businesses, and we tailor our solutions to meet the unique needs and goals of each client, ensuring that they receive the highest quality of tax-related services and financial advice.
Kuwaiti Certified Public Accountants (KCPAs) are likely to continue to play an important role in the financial industry, providing services such as auditing, tax preparation, and financial consulting. With the increasing complexity of financial regulations and the global economy, the demand for KCPAs with specialized knowledge and expertise is expected to continue to grow. Technology is also expected to play a significant role in the future of the accounting profession. Automation and the use of artificial intelligence in accounting tasks such as data analysis and preparation of financial statements are likely to become more prevalent, allowing KCPAs to focus on higher-level tasks such as strategic planning and advisory services. In summary, the future for KCPAs looks promising, with a growing demand for their services and opportunities for career growth as technology continues to evolve and change the way accounting is done.
Diversify services: Offering a wide range of services such as tax preparation, financial planning, and consulting can help attract a diverse client base and increase revenue streams. Develop niche expertise: Specializing in a specific industry or type of service, such as forensic accounting or government auditing, can help our firm stand out in a competitive market and attract clients who value that specialized knowledge. Leverage technology: Investing in technology such as automation, data analytics, and cloud-based solutions can help increase efficiency and reduce costs, allowing the firm to offer competitive prices and improve client service. Expand geographically: Opening additional offices or expanding into new geographical markets can help increase the firm’s client base and revenue. Building a strong team: Attracting and retaining talented and experienced professionals can help improve the firm’s reputation and attract new clients. Building a strong reputation: Building a strong reputation in the market through effective marketing, networking, and providing high-quality services can help attract new clients and retain existing ones. Building relationship: Building a strong relationship with the client by providing quality services and being responsive to their needs can help increase repeat business and word-of-mouth referrals. Continuously learning and adapting: Keeping up with the latest accounting and auditing regulations and staying informed about the latest industry trends and developments can help the firm stay competitive and adapt to changing market conditions.
It’s important to note that the future can be uncertain and there are many factors that can impact the growth and success of our firm, such as changes in regulations, economic conditions, competition, and technology. However, generally speaking, we are monitoring market conditions changing to be able to adapt, leverage technology, and offer a wide range of services will have a better chance of success in the coming years. Additionally, we want to attract and retain talented professionals and build a strong reputation in the industry may also be well-positioned for growth. Currently we are assessing the firm’s current position, set goals and objectives, and develop a strategic plan to achieve them in the future.
1. Keeping up with changes in regulations: The accounting and auditing industry is heavily regulated, and firms must stay current on changes in laws and regulations to ensure compliance and avoid potential legal or financial penalties. 2. Managing risk: Firms must also be able to identify and manage risks related to client engagements, including fraud, errors, and other potential liabilities. 3. Attracting and retaining clients: Accounting and auditing firms are in a highly competitive market, and firms must be able to attract and retain clients by providing high-quality services and developing strong relationships. 4. Attracting and retaining talented professionals: Firms also need to be able to attract and retain talented professionals, including CPAs, to ensure they have the skills and expertise to meet clients’ needs. 5. Keeping up with technological advancements: The accounting and auditing industry is undergoing significant changes due to the rapid advancement of technology. Firms need to stay up-to-date with the latest technological trends and advancements to remain competitive and efficient. 6. Cybersecurity: The increasing reliance on technology and the use of digital platforms has led to a growing concern about cyber threats, and firms need to have robust security measures in place to protect their clients’ and their own sensitive data. 7. Continuously learning and adapting: The accounting and auditing industry is constantly evolving, and firms need to be able to adapt to changing market conditions and stay informed about the latest industry trends and developments. These are some of the common challenges faced by accounting and auditing firms, but the specific challenges that a firm face will depend on its unique circumstances and goals.
Currently, our clients are Kuwaiti’s companies, as this is our focus in the current stage and once, we moved to the next step in our growth plan and expanding our professional services will attract more international clients due to the proximity and accessibility of international companies.
Financial planning and analysis: This service includes analyzing a company’s financial information, identifying areas of strength and weakness, and providing recommendations for improving performance. Budgeting and forecasting: This service includes working with clients to develop budget and forecasting models that provide insight into future financial performance. Business valuation: This service includes assessing the value of a company for a variety of purposes, such as mergers and acquisitions, estate planning, and litigation support. Risk management: This service includes identifying and assessing potential risks that a company may face and developing strategies to mitigate those risks. Tax planning and compliance: This service includes providing advice on tax strategies and ensuring compliance with relevant tax laws and regulations. Business strategy: This service includes working with clients to develop and implement strategies for growing their business, entering new markets, and competing effectively. IT advisory: This service includes providing advice on IT infrastructure, cybersecurity, data management, and digital transformation. Performance improvement: This service includes identifying and addressing operational inefficiencies, streamlining processes, and improving performance in areas such as cost, revenue, and customer service.
Professional development: Membership in international alliance like BOKS International can provide opportunities for professional development through training, education, and networking. Access to global resources: BOKS International provide access to a wide range of resources, such as research and best practices, that can help our firm improve it services and stay current with industry developments. Global recognition: Being a member in BOKS International will enhance our firm reputation and credibility and demonstrate its commitment to professional standards and best practices. Access to global market: Being a member of BOKS International will help our firm expand their reach and attract clients in different countries and regions. Compliance with international standards: develop and promote global standards for accounting, auditing, and assurance services. By being a member of BOKS International, our firm can demonstrate its commitment to following these standards and improve their quality of services. Networking opportunities: Membership in BOKS International provide opportunities for our firm to network with other professionals and organizations in the industry.
Hopefully, BOKS International to be one of the leading global alliances worldwide as BOKS focus is on creating networking opportunities through a more open, flexible arrangement that fosters meaningful, long-term relationships.
Our clients come from a variety of industries, and they are SMEs. They are seeking services such as financial statement preparation, tax planning and compliance, internal controls assessments, and financial audits. Typically, they are looking for a professional to help them understand and manage their financial information, ensure compliance with relevant laws and regulations, and provide guidance for decision-making.
There are several ways to target clients who are looking for international accounting and auditing services: Networking: Attend industry events, trade shows, and conferences to connect with potential clients and other professionals in the field. Online presence: Develop a professional website and social media presence to showcase your services and attract potential clients. Referrals: Ask current and former clients to refer us to their contacts in other countries. Marketing: Use targeted marketing campaigns to reach potential clients who are searching for international accounting and auditing services. Specialization: Develop a niche in international accounting and auditing services and become an expert in the field. Building relationships: Building relationships with other professionals in the industry, such as lawyers and bankers, who may be able to refer potential clients. Offer a free consultation: Offer a free consultation to potential clients to discuss their needs and how our services can help them. Compliance knowledge: Stay up-to-date with international accounting and auditing regulations and laws to ensure compliance for our clients. Language skills: Having knowledge of multiple languages can be an advantage when we are targeting international clients.
Our firm focuses mainly on tax services and statuary audit for financial statements.
Time is so important. Clients need fast and pragmatic solutions. Partnership and competent support from a professional legal team, specialised in different areas to offer the client a global and customised solution.
Establish strategic partnerships, improve quality of service delivery and of the legal team, digital communication, understand market needs.
With a greater range of clients, with an even better legal team.
Consolidating international clients while maintaining a fast and customized response.
Around 30%.
Civil, corporate, foreign investment, immigration, real estate, tax, litigation, IP, Wine Law.
We see BOKS as a dynamic and strong international alliance.
With its dynamics and organisation, we foresee that the BOKS will substantially extend its network, which will significantly reflect on the members’ activity and revenue.
All types of clients are legitimate as long as we work ethically and in a proper way.
These have been companies intending to invest in the form of M&A or incorporation or private clients seeking for real estate investments, golden visas or others, residence permits, NHR tax regime and citizenship.
Keeping professional procedures and patterns. Through alliances such as BOKS, partnerships, networking and digital communication.
Though our multidisciplinary approach, foreign investment, immigration and real estate are booming! Tax and corporate law are important to achieve these goals
Accounting firms that want to stay competitive must expand beyond traditional bookkeeping and tax preparation services while offering advisory services. Those services would include recommendations on how a business can use new technologies for increased efficiency or solve problems in other areas such as operations software management or human resources. This would bridge the gap between accountants and other financial advisors. Developments in accounting technology and AI will allow accountants to offer more accurate insights and provide their clients with valuable advice. Despite the rise in accounting automation, we cannot eliminate the need for human influence, opening the doors for holistic advisors rather than transactional accountants. Firms that can adapt to this trend will earn even more revenue than before. This may mean an opportunity to expand the accountants’ skillset to focus on managing cash flow, financial planning or technology.
The long-term strategy of Rex Consulting has been consistent growth by selecting, employing and retaining talented young professionals who understand our clients’ business and provide efficient and timely consultancy services. Our organic growth has been combined with mergers with other firms which have been our subcontractors in the past and we knew that their key staff and Senior Partners share the same values and professional standards as the Rex Consulting team.
Within 5 years, Rex Consulting is expected to be among the top 20 consultancy firms in Bulgaria in the field of accountancy, tax and legal services.
Finding, training, motivating and retaining young talented professionals.
Between 60-70%
– Due diligence reviews – Company restructuring – Transaction advisory – Company incorporations and related corporate services – Company valuations – Advisory for certified foreign investments – Preparation of transfer pricing documentation – Outsourcing services
Growth on a local level while maintaining an international profile. Better business development via inward and outward referrals. Improving the quality of service by maintaining the high standards of the Alliance.
Within the top 20 alliances of consultancy firms with a significant presence in more than 120 jurisdictions worldwide.
Our typical client is a Bulgarian subsidiary of a multinational corporation – usually in the IT, pharmaceutical, marketing, financial or production sectors.
Rex Consulting has been contacted recently by a large Belgian holding company, requesting assistance for establishing a Bulgarian subsidiary and providing a full range of legal, accountancy, tax compliance and payroll services. After the initial client screening process, our team provided the corporate services needed for establishing the BG entity, plus all ongoing support with the efficiency and flexibility that matched the client’s expectations. The BG subsidiary of our Belgian client continues using our accountancy and tax consultancy services on a monthly subscription basis.
The policy of Rex Consulting is that we do not advertise our services – in that sense, we do not target clients. Because of our long-established international contacts, new clients always approach us via referrals.
No, we do not specialise in any particular sector or service. Our clients work in all economic sectors, so we offer our services to the whole spectrum of businesses.
Notwithstanding the unstoppable development of digitalisation legal advisory will remain personal. Hence, the last mile, the lawyer-client relationship will not do without personal contact and confidence.
The firm will continue to legally advise in international legal business transactions, apt for medium-sized and smaller companies, and focus on the legal aspects of automation and digitalisation, in particular with regard to the future of self driving cars, thereby taking advantage of a close international network of other law firms and their legal expertise.
being able to continuously satisfy our clients
more than 50%
Corporate, contract and business law, product liability & product safety law, litigation, ADR and arbitration
To strenthen our strong presence on the global market and to deepen the interconnection of legal advisors, tax consultants and certified public accountants (CPAs) on a multinational level.
Contemporary service for clients
Organic growth and convincing with the performance of solid professionals
Strong regular clientele and further growth
To find qualified and motivated employees who represent our company policy to the outside
30-40 % of international clients but also Liechtenstein clients often have international issues due to the size of Liechtenstein
The full-service law firm (incl. private law, criminal law and public law matters but not limited to) and in-house trust company for comprehensive solutions.
Networking and cooperation with solid and international professionals are important because of the structure and origin of our client’s needs
Grown with the possibility of referring mandates worldwide in various areas.
Our clients are mainly corporates from all industries. Whereas our national clients are corporate as well as individual clients.
We do not seek to poach in the classical sense, but we do actively publish and advertise in international magazines and participate in events and congresses.
In general full service, but our lawyers have their specialities like in private law, criminal law and public law.
Our profession will always be one of the main ones in our society. A company, whether it is starting up or closing down, will always need accounting or related advisory services. It is becoming more and more digitalized since covid-19 and is moving more and more towards consulting.
We created an IT department three years ago to digitise and optimise our internal processes and the services offered to our clients. We are continuing to develop internationally, where demand is always high.
We will double our size and offer new services, whether in data, GDPR, electronic invoicing...
Finding and retaining talents.
100%
We provide assistance, advice and audit in the areas of accounting, tax, labour legislation, legal, business organisation and management for small and medium sized businesses and operating internationally.
It is a dynamic international network.
We hope that the network will expand to other geographical areas and have more members but collaborative work between members will always be at the heart of Boks' concerns.
Subsidiaries of foreign groups of all sizes.
Advisory in setting up the secondment of British employees to France.
By participating in events or networks on the theme of international business.
No.
My thinking for some time now is that as the tools to assist clients in attending to their compliance obligations continue to become more advanced, accountants will have to move away from just being compliance accountants to becoming business advisers to their clients. Financial data is becoming more real-time, enabling accountants to sit alongside their clients and guide them today in the decisions they need to make for their business based on today’s data, not yesterday’s.
To develop more into becoming a boutique advisory practice for our clients while developing an international reputation via our network of trusted referrers.
Size wise we like our present position and have little desire to grow much larger. However, by upskilling the team and becoming more client focus, we strive to become the centre of our clients’ world, where they think of us first as their trusted advisor when any need arises in their business. We would like to have moved more into the advisory space and to embrace the technology available, to provide a high-value service to our clients.
At present, team resourcing as today’s employees has certainly changed from yesterday’s employees, particularly in a post-pandemic phase, during which a lot of self-reflection occurred. Employees are definitely more mobile and less sticky, so our challenge is to become an employer of choice for the available talent pool.
Probably 10-15%
We have a specialist tax team experienced in both domestic and cross-border taxation and business structuring. Alongside our general business services team, we have a specialist advisory team who performs various tasks, including business valuations, capital raising, buy/sell due diligence assistance, litigation support and expert witness, corporate governance advisory and family office support services.
The opportunity to connect with like-minded professionals all over the world and to create a portal where we can assist other members’ clients who have any New Zealand advisory/compliance requirements while at the same time being able to provide our own clients connections to trusted offshore professional advisors whenever the need arises.
I see BOKS as a relatively young global organisation, which will change over the coming years relatively quickly, if they maintain their present due diligence processes to ensure the quality of new members coming on board.
We focus purely on the SME market in NZ, but with no limits on the type of clients within that market which we will service – we are not industry specific or focused in other words.
We have assisted a number of multi-national clients recently in the set-up of their New Zealand operations, engagements which commence with advising on the recommended operational structure, attending to registrations with the relevant NZ regulatory authorities and Inland Revenue, assisting with opening NZ bank accounts, and then providing bookkeeping services to manage the NZ payroll and GST return filings. We then prepare the annual financial statements and income tax returns and continue to provide advisory services as required.
We endeavour to become their NZ one-stop-shop by offering a lower-cost bookkeeping service which can take care of their daily accounting needs on a cost-effective basis while at the same time being able to provide a high-quality advisory service when required, being able to recommend other NZ professionals to attend to any service areas which we do not provide and to ensure all annual compliance and reporting obligations are kept up to date.
No, we do not focus on any particular sector or service – we are confident that we have a team of professionals who can adapt quickly and service most needs of our clients – whatever sector those clients may be in. And if we can’t do it, we’ve certainly be around long enough and have the connections, to ensure that somebody can.
Full-service accounting firms that can take care of a client’s financial needs and questions holistically are the way of the future. We find that both our individual and our business clients can usually benefit from the advice of a broad range of experts over the course of the relationship, all supplied in-house. Accessing the right kind of expertise for the different situations a client might face – from a team they already trust – can be hugely reassuring for them. We also pride ourselves on our people being able to spot potential problems and then ensuring our clients get the right advice from the right person on our team.
We have divisional growth plans generally based on organic expansion and referrals, and we ensure we have the right personnel to execute them. This strategy is supported by a tailored marketing and development plan, and we are always reviewing matters such as our work environment and flexible arrangements to adapt to modern conditions.
Banks Group has been growing strongly, and we would like to enhance our reach and reputation further in the next few years. We already offer some services that very few firms handle, such as corporate finance, private equity, specialist tax law advisory and tailored audit/assurance work, and we are looking to broaden our range of services across a wider geographical reach.
Like most firms, we are adapting to a ‘new normal’, including staff recruitment and retention issues, but this allows us to listen to our people and work on changes in employment arrangements and service delivery across new platforms.
We currently advise a number of international clients, though the bulk of our work is in Australia. One of our specialities is music and entertainment, and we help with the accounting side of touring as well as international tax matters. We handle several subsidiary audits for larger global entities from an assurance perspective.
We specialise in:
We hope BOKS will help us connect with a wide network of people who may be interested in our professional services. People choose a financial services provider they trust, which is why we believe in the power of being referred by someone. We hope BOKS can act as a kind of digital referral platform because people can feel confident and reassured that our services are vetted by the team at BOKS beforehand.
We hope BOKS will be a robust network of providers globally who can connect the right people and companies to solve problems and advance businesses. We also hope that BOKS will keep the network informed about the latest news of members.
Our typical client is looking for a highly experienced professional who can help them with specific financial or business needs. Our business clients come from many varied industries but are typically SMEs – we can help them with a broad range of services, from audit and management consulting to ensuring they meet their tax obligations. Our individual clients range from people wanting to manage their finances and investments better to those requiring advice on tax return completion, getting the best insurance coverage, business development and so forth. All individuals and businesses have a money aspect, and that’s where we can help.
To date, we have been focussed on clients predominantly in Australia. We are now testing the waters with reaching international clients via BOKS. For example, we can help international clients wanting to operate in Australia or even clients wanting to temporarily do business in Australia – as an example, we help many international artists meet their financial obligations when they tour in Australia. We can also help Australian clients who want to operate abroad or have international tax questions.
Digitization is also becoming increasingly important in the law industry and makes many things easier. Nevertheless, it will also be important in the future to maintain personal contact between client and lawyer as well as to respond to the individual needs of the client and the special features of the individual case.
We intend to differentiate ourselves from our competitors, particularly through service and quality and to focus on our core areas of commercial law.
We are pursuing the goal of having a team of flexible and technically well-trained employees who focus on the interests of the client, as we do today.
It is proving to be increasingly difficult for us to find well-trained employees, especially trainee lawyers, who meet our requirements.
About 20%.
The centre of our focus lays on the individual needs and goals of our clients, as we strive for a long-term partnership. Our team of highly qualified and experienced lawyers ensures comprehensive individualized attention, from the advice in various legal matters to representation before courts and authorities. Our focus is on commercial law.
We appreciate the international network of service companies that BOKS International offers.
We would be happy if BOKS could expand its network and there would be a lively exchange between the service providers, which would also lead to new mandates.
As a law firm, we advise and represent national and international clients who move in a demanding and constantly changing environment. Therefore, our clients expect high-quality services and timely solutions.
Our general focus is on commercial law. This includes labour law, compliance, corporate governance, disruptive technologies & fintech, corporate law, commercial law, IP law, capital markets law, M&A, debt enforcement and bankruptcy law and contract law. As a notary's office, we also perform public certifications for our clients for various legal transactions and notarise signatures, data and documents both in national and international contexts.
The service industry as a whole has experienced a huge change as a result of the pandemic. The switch to technology that some thought would take 10 years has been affected in less than two, meaning that huge strides have been made in the way legal services are marketed, captured, and delivered. The challenge for the future of the profession is to embrace these changes and continue to keep pace with our clients in the way we do business without losing the personal relationships that form the fabric of our client journey.
The last 5 years has seen rapid expansion for JMW with the opening of our full-service London office, which is now is home to some 150 partners and staff alongside 550 colleagues in our Manchester head office. Lateral hires will continue to play a pivotal part of our ongoing growth strategy, which will undoubtedly see us continue to recruit high-quality lawyers and their client followings. Growth for growth’s sake is never an attractive proposition, but as our clients grow and our client base expands internationally, we are committed to providing exceptional service with exceptional people.
We are very much looking forward to growing our international network and clients over the coming years. Being a member of BOKS will certainly play a part in that process.
Our biggest challenge is our biggest asset, our people. We continually strive to find a way to empower our people to achieve their goals and realise their dreams, and our challenge is to create a pathway to help make that a reality. Being a full-service, multi-office firm with an expanding international client base provides us with a great opportunity to help our people develop their careers their way.
It’s difficult to give a fixed percentage because more and more of our clients have an international element to their work. Take Intellectual Property, for example – we tend to protect every client’s IP across multiple territories so that area of work is truly international. With the expansion of our Corporate Immigration department, Employment department and our Sports offering, as an estimate we would suggest that 30% of our work now encompasses an international element.
As a full-service law firm, we are able to offer legal advice to both businesses and individuals across most legal disciplines. Thanks to our unique Lawshare concept we are able to reach out to in excess of 650 other law firms in the event that we may not be able to assist.
The prospect of building an international network really appealed to us, and we have found both the members of BOKS and the team running BOKS to be like-minded, ambitious, and very supportive. The relationship is at a formative stage, but we very much look forward to being an active member of the community.
A prominent and well-respected international network of accountancy and legal practices, working together to provide the best quality advice for international clients, whilst also sharing best practice and knowledge whilst working collaboratively.
Given the full-service offering at JMW, there is no typical client, as we represent individuals, owner-managed companies right through to Plc’s and international corporations. However, we hope that all our clients see JMW as an extension of their business, a firm that is always on hand to provide guidance, support and advice whenever required.
Some of our lawyers have recently visited the middle-east, north America and south-east Europe on both international client work and business development opportunities.
We have an existing number of international clients who expand their own services/offerings into new jurisdictions which in turn opens up further opportunities for us in new cities and countries. Digital marketing also plays a significant role in attracting international clients with us utilising tailored pay-per-click campaigns to reach highly targeted leads further afield.
As a full-service law firm, we are able to offer legal advice to both businesses and individuals across most legal disciplines. Thanks to our unique Lawshare concept we are able to reach out to in excess of 650 other law firms in the event that we may not be able to assist.
The future of our profession is very exciting and promising. We consider that the need for financial and legal advice will continue to grow, especially in the area of family businesses. Our growth strategy is to continue to offer high quality services and to expand all over the country.
We see a lot of growth potential in the industry, and our growth strategy is to continue to provide excellent service to our clients and to expand our international reach. Our value proposition is based on specialized knowledge and the massive use of the most advanced technological tools in the legal services and consulting sector.
We see our firm 5 years from now as being a leading provider of business advisory services, with a strong international presence. Our strategic plan contemplates doubling our current size in three years and for this we have started a line of growth based on the purchase of other offices of equal or smaller size, both in Madrid and in other cities in Spain.
Our biggest challenge is to continue to provide the highest quality service to our clients while expanding our reach to new markets.
Currently, our work is split evenly between domestic and international clients.
We offer a full range of business advisory services, including strategic planning, financial analysis, and marketing support.
Our main driver for being part of BOKS International is to provide our clients with access to the best resources and advice available.
We see BOKS International 5 years from now as being the premier provider of business advisory services, with a strong global reach.
Our typical client is a small to medium-sized business owner or manager who is looking for expert advice on how to grow their business.
We recently completed an assignment for a client who was expanding their business into new markets. We provided them with market analysis, financial projections, and advice on how to structure their business to maximize their chances of success.
We target clients who are looking for international services by advertising our capabilities in international business publications and by attending international trade shows. We also work with a number of referral partners who help us connect with potential clients.
We do not specialize in any particular sector, but we have a lot of experience working with businesses in the retail, manufacturing, and food service industries. However, we focused our services on family businesses.
Advisory (legal and tax) services have gained more popularity nowadays. We have noticed that not even large corporations and major companies perceive professional advice as important, but larger numbers of small to medium-sized players, as well as private clients, seek advice. Therefore the future looks promising.
We aim to grow our client portfolio by adding new clients and retaining our longstanding and existing ones. We hold great pride in the large number of clients who retain our services for long periods of time and we are happy to welcome new ones.
Our forecast, besides turnover increase, consists of the consolidation of our London office and opening of a second European office.
Although we (and our client) are very happy with our team structure and composition, during recent months we are finding the recruitment of new talent challenging.
The percentage varies, but generally at least 50% of our workload has a cross-border and/or international component.
We offer the complete spectrum of Legal, Tax and Insolvency services. As per tax advisory business services, we provide general tax advice on corporate income tax, transfer pricing, VAT, withholding taxes, personal income tax and salary taxes, customs duties, excise duties and local taxes, international tax structuring services for Romanian investors, tax due diligence and tax reviews to identify tax exposures/risks and solutions to address them. We assist in obtaining advance binding rulings and Advance Pricing Agreements (APAs) from the Romanian tax authorities.
We believe that by joining BOKS International we have set the base to a mutually beneficial relationship, with the aim of both growing and consolidating our client portfolio whilst making sure the highest client satisfaction standards are met.
Hopefully, in Band 1 & Tier 1 ranking lists of most international professional directories.
Our client profile is dynamic regarding the industry sector our client belongs. As per their nature, most of our clients are either multinational companies with (the intention of opening) a Romanian subsidiary either major local companies with large amounts of activities on international and local levels alike. Although we cover most industry sectors, most recently, there was a consistent increase in the field of technology, life sciences and energy & natural resources.
One recent tax-related assignment involved a Dutch-based global software developer for the banking industry, which requested assistance in drafting the transfer pricing documentation, including Master File and local files for each of its subsidiaries (10 files in total). Work included preparing benchmark studies for numerous jurisdictions: Romania, Lithuania, Germany, Netherlands, United Kingdom, Singapore, USA, UAE & Brasil. On the legal side, we have recently assisted a major healthcare services provider, with activity throughout Europe, in the sale of its business in Sweden. Our assistance included drafting the transaction documents, negotiation, and representation of our Client throughout the entire transaction (letter of intent, NDA, data room set up, etc.). It was an important high-value cross-border transaction developed under Swiss law, extremely interesting as the seller was Swiss, the target was Greek and the buyer was from Sweden.
Through internationally placed communication and equally through affiliation to international networks.
No, throughout our professional journey we have dealt with virtually all sectors.
The advancement towards the alignment of technologies and automation while the professional directs its focus on the client communication.
Building and managing a network of international partners in a way best suited to globalize services.
A small/medium professional audit firm providing comprehensive and high quality service in Malta.
Generating the proper resources to cope with the increased workloads.
20-30% consists of international work.
Our Business Advisory team develops and offers tailored, innovative and comprehensive solutions for clients according to their requirements, these services include:
BOKS International was recommended to us by another member firm in Malta which handles the accounting referrals generated from the association. This presented the opportunity to be a part of a Network of vetted professionals that instantly provides us access and resources to handle international engagements.
Top 10 International Alliances and Associations
Small/Medium Sized Firm incorporated in Malta
We have assisted a Chinese client to handle an equity restructuring both in China and Malta.
Mainly online, this enables the exposure of new clients looking to expand their services internationally.
Audit & Assurance
I believe business lawyers, and especially international business lawyers like ourselves, will need to be more and more business-oriented and more and more interdisciplinary. Our goal in the office is to ensure that our team fits such a description.
We are always looking for good lawyers and partners to join our firm and/or other law firms of similar business strategy and quality as our firm.
I believe we will slowly grow, as we always make sure that each new lawyer is well adapted to our firm's standards so as to ensure that all our clients receive the best quality of service.
Finding good people is always a challenge.
Today about 40% of our work is international.
We escort clients in their day to day business but we are legal advisors and not business advisors. Nevertheless, our clients enjoy our vast experience.
We are always looking for new international connections and wish to be able to cooperate with firms worldwide.
I believe it should have more international locations but keep its high standards.
A business client, from startups to big international companies.
We escort an Australian publicly-traded company with an Israeli subsidiary in numerous transactions worldwide.
We have our bi-weekly newsletter, LinkedIn groups and international connections (such as BOKS).
Mostly international M&A, but we deal with any business-oriented service.
It is a profession with many opportunities, it is a profession with constant updating and above all very empathetic to adapt to constant changes.
Carry out work with excellence, based on skills and diligence in accordance with the code of ethics with clear and committed professional behavior, maintaining our integrity and objectivity as pillars.
We see it growing significantly thanks to the alliance with Boks and the different partners.
Growth in the national market despite high professional competition.
10%
Audit, Administrative Consulting, Payroll, Accounting, Legal Services, Tax Advice, Labor Advice, Accounting Outsourcing
Create an alliance that allows us to grow
As a strong firm and with greater representation globally
A company that does not see the need to maintain constant advice until they find themselves in need of administrative and financial order or have some legal requirement to meet.
We address ourselves by providing the opportunity to have quality service at a regional or global level since we have partners with proven experience in different countries that can provide different needs.
Audit and Payroll Services and Audit Sector International Organizations, NGOs
Boccuzzi Advogados Associados is in the legal services industry, which is changing a lot due to AI. Nevertheless, the legal profession will always be around but with a different role. The repetitive work shall not any more be performed by lawyers and therefore a good number of lawyers shall become redundant. But for lawyers with a creative approach to solving problems, there will be very good opportunities. So, in the end of the day, the future of legal services industry will rely on talented professionals with the capacity to spot different solutions for clients’ problems.
Since the inception of Boccuzzi Advogados Associados, twenty-five years ago, we always focused on organic growth. Our company’s culture is of utmost importance for us and therefore the only way to preserve it is by means of organic growth.
Boccuzzi Advogados Associados is already very much consolidated in the Brazilian legal services industry. We are currently working hard on the expansion of our commercial and civil litigation practice where we think there is a lot of room for growth. So in five years, we expect to have a more consolidated commercial and civil litigation practice.
The biggest challenge for most Brazilian law firms relies on Brazilian economic growth. Due to political unrest seen in the last years, the economic growth has been very shy and this is a big challenge for the law firms.
Around 60% of the firm’s work is international.
Boccuzzi Advogados Associados offers advisory services on business law, mergers & acquisitions, tax and customs law, international trade law, employment and labour law, banking and capital markets, commercial and civil litigation.
The main driver is to offer to our clients legal and accounting services anywhere in the world. And, of course, receiving work from anywhere else.
I see BOKS international as a leading player in the network market either in the accountancy and in the legal industry.
Our typical client is a mid-size multinational company doing business in Brazil.
We are currently working on a high-value debt collection litigation on behalf of a trading company based in Houston, USA. Our client, the foreign trading company, sold a huge amount of oil to a Brazilian company that did not pay the trading company. Before starting the litigation proceedings, we performed a dip asset search and when we finally filed the proceedings we managed to seize money and property for our client and did not leave any chance for the debtor to hide its assets.
Boccuzzi Advogados Associados has been in the market for 25 years and most of our client base comes from our long-standing and loyal relationship with law firms from other jurisdictions.
I am afraid not.
It is our opinion that audit is not a thing of the past or unprofitability. We have acquired and audit software and we apply it in our work. Number of audit subjects is increasing for the last few years and thus we are facing an increased interest and offers for cooperation by domestic audit subjects. Corona virus pandemic has conditioned us to conduct online audit followed by fewer visits to our clients. Thus, we have adjusted our engagement to such conditions (working from home and similar). In addition to audit services, we also generate significant revenues from tax consulting services and we think that the share of these revenues in total revenues will continue to grow in the coming period. We do not provide accounting services but on client’s request we do provide consulting services regarding application of new IFRS. In 2021 we have provided to our clients services related to implementation and application of IFRS 9 – Financial services, IAS 16 – Leasing, IAS 19 – Employee benefits etc. Having all this on mind, we strongly believe that share of such revenues in our total revenues will only continue to grow in the future.
We plan to improve our core business (audit services), to improve efficiency and quality of our services because we have the necessary audit software to do so and thus to meet our client’s demands in the future. Other segment of our business is consulting services related to tax issues. When providing transfer pricing services for example, we use databases from several providers in order to conduct market research so that our service could be on highest possible level for our client. Due to frequent changes in Serbian legislation, especially regarding taxation, we provide large number of opinions and interpretations related to application of domestic taxation regulations. For this reason, we plan to increase our engagement in acquiring new clients for audit, transfer pricing and other tax services. Our stuff has both knowledge and experience and are capable to respond to most request imposed to us by our clients regarding business and tax consulting services on both domestic and international market.
We already have very good reputation on domestic market and we are very well recognized primarily by domestic clients. In future period, we expect to establish cooperation with a larger number of foreign clients, primarily from the region, to improve our knowledge and skills in order to be recognized among foreign partners for the quality of our services and to continue to follow trends of regional integration in order for these plans to be realized.
Our biggest challenge is to follow the processes of integration in the region and beyond, primarily the EU, and inclusion in world trends, so as not to stay out of the main integration processes.
Currently, this is at the level of 2-3% observed in terms of the share of income from foreign countries in our total income. We plan to increase this share to 10% or more in the future.
We provide tax consulting, accounting and industrial-business advisory services (appraisals, statutory changes, foundation, due diligence and similar). Currently, these activities belong to the group of irregular or occasional jobs for our company, but if in the future these activities would be contracted on a regular basis, we would plan to form a special department that would deal only with the provision of these services.
Expecting an increase in the number of foreign partners, as well as increased interest in investing in Serbia in the future in order to achieve cooperation with them through the network (BOKS).
We see it among top 10 networks. It is our wish to grow together with the Network.
Our clients are primarily struggling to increase their participation in the domestic market, to cope better with frequent changes in regulations and regulative and to get involved in international business flows.
Last such project was Erasmus+ EU programme for education, training, youth and sport from 2019.
We advertise ourselves through our webpage and through printed media – published by our founder and one of the domestic business journal. This is why seeking (targeting) of foreign partners was primary reason for us to join BOKS International family.
Beside audit services, we have specialized in composition of transfer pricing reports, application of IFRS 9, IAS 16, IAS 19. Serbian Tax Administration requires submission of transfer pricing reports for taxpayers on annual level. Such liability does not exist in many EU countries.
In our opinion, the top challenges of the legal profession are the technological challenges of the day to day work and legal advice management, as there will surely soon be artificial intelligence and technological solutions to disputes and conflicts. Another big challenge would be to deal with other conflicts solutions as mediation and arbitration.
Our main strategy has been always to focus on the best high-quality services personalized to each client. In that sense, we are growing our services to be able to answer all possible legal needs of our clients.
Our goal in 5 years time is to maintain our well-known experience and be the best reference in Spain.
Our biggest challenge is to do our best job and to achieve the most recognitions from our clients and partners.
Around 25% of our work caters to international clients. We speak fluent English, French and Spanish.
We offer the following legal services: corporate, international contracts, commercial, mergers and acquisitions, real estate, litigations, bankruptcy proceedings, labour, criminal economic and public law.
International exposure to local and international clients doing business in Spain and being able to refer our clients to reliable firms abroad.
A strong international network of quality legal and accounting firms, with worldwide expansion.
Local and international clients interested in doing business.
To deal with a Danish company with legal disputes with its distributor in Spain.
International clients are referred to us through personal contacts and from other clients and collaborators we’ve been working with.
We are prepared to offer our legal services to all business sectors.
As long as markets and transactions exist between people and companies, between institutions and countries, trained professionals are necessary to provide adequate advice to economic agents and participants in those markets and transactions, so that they can create, expand, internationalize and develop businesses in an environment of resources, information and connections, more secure. So far the challenge is to achieve a reliable, profitable legal, tax and accounting assistance service adapted to the requirements of the digital age. Since the industrial revolution until now, the world has known a marvelous and agitated technological development, as well as since the appearance of the Internet, an unmanageable volume of information, however, it has also known the misfortunes and unwanted consequences. In this new environment, the current one, I believe that the greatest challenge added to the one already mentioned, is to give it a human meaning, or to recover it if it has been lost, through a close, personal, direct professional practice, committed to the efforts of agents, investors, entrepreneurs and workers, for a result that satisfies both progress and the generation of wealth as well as peace, environmental protection and the balance that serves human happiness.
I prefer to imagine a development and maturation strategy. In the first place, we intend to develop the best of our professionals, therefore of the services we provide, through a good work environment, training and knowledge of international markets; second, consolidating our work model that has a central team and then several collaboration agreements with associated specialists who participate in the projects that are needed, combining professional excellence and reasonable economy; thirdly, expanding our customer base and its access to international markets. Regarding the latter, in 1991 we began a challenge to integrate - without losing independence of their responsibilities - legal, tax, accounting and financial services. In 1996 we founded and organized the first Ibero-American network ICG International Consulting Group. And now in 2020, we join BOKS International. In this way, we expand the bridges of professional collaboration because we believe in the need to expand horizons and opportunities. We believe that by linking our experience, market knowledge, and network of professionals with those of BOKS, we will establish for our clients a strong and unsurpassed source of assistance of the highest level. And we believe that BOKS is moving towards an important consolidation in the world of service exports and business generation between regions and countries of the world.
I see BC&MC as a change agent in the way we collaborate and act in the business world. More based on trust, excellence and ethical responsibility than on exclusivity. We see it in a position of strategic partner in Chile to serve investors and generators of work both to establish an expansion platform in Chile and America, as well as for those who look to the European and Asian market in their plans from America. For this purpose, our challenge is not only to understand the effects of the absence of, or of the existence of, international agreements and treaties on trade and taxes, but to know how to use them as efficient tools for our clients and to actively collaborate with professionals in other firms located in America, Europe, Asia and the rest of the world in the best service.
To be strategic and efficient partners for our associates around the world and their clients; and to be consultants and advisors not only trustworthy for clients, but also true "partners" who understand their challenge and feel accompanied and helped from the moment they imagine their business plan to its implementation until its complete development.
Our current percentage of international clientele is around 35%. Since 1996 we have been specializing in the needs caused by the internationalization of businesses and the circulation of executives and workers as well as services and goods in the global market. This has been growing and we believe that in the future the highest percentage of clients will be of this type and for this we are preparing to incorporate specialized personnel and increase the excellence of the current team.
All the essentials for creating, evaluating and developing expansion and internationalization structures. From trademarks and registrations of intellectual or commercial property, to franchise structures, acquisitions and mergers, expatriation and local facilities. Our specialty is accompanying the client with internationalization projects. We assist in joint ventures negotiation processes, sale or expansion to other countries. We help the transition process to the second generation in the case of family businesses. We help assess risks, form corporate governments, participate in international tenders. We help to form international structures for a better administration of resources and to adequately and economically comply with the laws on taxes and international contracts.
Establish a bridge between our regions and also between the activity of BOKS International and that of BC&MC as founder of ICG International Consulting Group. They are different entities, although they share the basics of serving business internationalization. The presence of BOKS in different markets and the quality of its members ensure that we share and exchange knowledge and high-level business. We believe that the model and the way in which it develops its international BOKS strategy are tremendously effective for the current challenges of the activity of lawyers, accountants and consultants in the world. We also believe that we can collaborate with the growth, development and maturation of BOKS international and be trusted by BOKS partners and their clients.
I see it as an effective platform for collaboration and the provision of professional contacts of a reliable and close level and with a high level of responsibility and efficiency in the international services sector for the progress and development of companies and people. Also as an ally of ICG International Consulting Group offering a greater variety of service options.
Generally it is an entrepreneur or group of entrepreneurs who plan to expand their businesses, innovate or create value and take their products, services and ideas to other markets.
One of our latest actions has been to link an important Belgian construction company with an important Chilean-Spanish company, with the purpose of jointly participating in infrastructure projects, construction of desalination plants and transport pipelines for large mining and water management companies.
By all means currently available on the market. However, our best advertising so far has been the recommendation of our clients and partners around the world. They also refer us from representations of binational chambers and commercial departments of consulates. Our plan is that given the current circumstances that the world is going through, and because of our relationship with BOKS, we will actively try to promote our new international reach.
Until now we have had to participate in very different projects, with a common element: all with expansion and internationalization plans. Then, once the best legal structure and the legal and accounting services necessary to develop their businesses have been established, some clients are more interested in tax aspects, others in personnel recruitment, others in logistics issues, etc.
We expect the accounting profession be largely dependent on technological advancement and great reliance on its capabilities to perform any professional task in a timely manner combined with assured quality.
We are currently working on providing advisory services to many new talented entrepreneurs who are targeting e-commerce and its channels as new means for their business activities. We are establishing a new office in the first international business hub in Egypt and we are proud to be the first accounting firm in this hub. We are looking forward to having new client base and providing more professional services to them.
In 5 years we expect to have:
Fetching professional personnel and maintaining high caliber teams
We are currently having 5% of our work considered international but, we are working on increasing that percentage as many of our clients are currently assessing the need to have international experience.
Company Establishment, Mergers and Acquisitions, Corporate Finance, Feasibility Studies and Financing advisory services
International exposure through working on international assignments and sharing professional knowledge with all the network's firms.
One of the top international accounting networks located in more countries and represented by many more accounting and legal firms
Eager to grow more in his market; Keen to know all new laws and regulations related to his business; Focused on best practices especially operational efficiency.
We have just completed a Tax and Legal due diligence assignment. The mission had a tight schedule but through effective communications and great support received, we were able to finalize our report in a timely manner and were provided a positive feedback on our work.
Usually through regional conferences and maintaining continuous relationships with new potential clients looking for international existence.
We provide a wide range of services from Audit, Tax and Advisory Services but we are particularly experienced in tax consultancy.
Despite the present digital era we live in, we believe that the profession of the tax consultant has a future in our country. Both the complexity of the relevant laws and their constant modifications, require the specialized knowledge of a tax professional / experts. Despite the fact that AI will replace accountants in the daily bookkeeping routine, the analytical and critical human thinking will still be necessary to study and delve into the complex financial and tax issues of our clients.
Steadily and surely, we are constantly evolving along with the growth of our company. The new generation of our company, both among our associates and the company's Management, provides us with a vision of the future filled with optimism and confidence. By cooperating with large offices, mainly abroad in Europe, but also in Greece, we aim to double both our turnover and the number of partners within the next five years. Our country attracts numerous investments in the tourism and energy (esp. in renewable energy sources) industry as well. Our great experience in supporting foreign companies and their Greek interests, justifies our high expectations in receiving a large share of this market in the coming years.
Τhe change of our DINAMIKI’s management administration, in the spirit of evolution and empowerment of the younger generation, with smooth and gentle handlings that ensure the sustainability of our successful course over time. The next generation is ready to take over the “reins of our company” and the older ones hope for a successful handover of its management.
100%
Tax advice, proactive tax audits, opinions on tax issues, payroll, establishment of legal persons, bookkeeping, preparation of financial statements, preparation and analysis of monthly and annual financial reporting, management of bank accounts, TP – Reports, Audit (though our affiliated company), preparation and submission of income tax returns for individuals and legal persons, Tax representative services, amendments to the articles of the association of Greek legal persons, reconciliation of any foreign chart of accounts to the Greek one, support during internal and external (tax) audits, preparation of appeals and memorandums against tax reports, due diligence etc.
To join a constantly growing network.
Within the 15 biggest networks of the relevant league.
A middle–sized European company with activities abroad.
Our good reputation is rather helpful in this area, as usually our clients find us, following the recommendations of our numerous satisfied international clients.
International tax.
We foresee the below top 3 challenges: • technological challenges in the market and others to come like IA. • complexity around accounting & tax compliance regulations; • swift transition from BPO (business process outsourcing) to KPO (knowledge process outsourcing).
Focus on organic growth by continuous focus on high-quality services and eventually through small acquisitions.
We are working hard to become a recognized professional service boutique and be in top 10 in Brazil in the next 5 years to come.
Keeping up with the ever-changing regulations that impact our business and constant update in technology to bring more efficiency & value to our clients, employees, and partners.
Around 25% of our work caters to international clients.
We offer the below advisory services; • Tax planning and Tax consulting. • Due Diligence. • Auditing. • Transfer Price. • Preparation of PPA (Purchase Price Allocation) report. • Interim management; temporary allocation of resources for projects related to accounting, tax, treasury, and payroll – Staff Loan.
International exposure to local and international clients doing business in Brazil.
Presence in more countries with a strong network of quality firms.
International clients interested in doing business in Brazil.
Apriori recently started working with a multinational company after a rigorous process, overcoming competition with top brand multinationals operating in Brazil. We believe that we could win the contract due to our end-to-end services, which included setting up a legal entity, appoint attorney-in-fact and legal representative of the Brazilian legal entity and render accounting, tax compliance, treasury, payroll and corporate secretarial services.
All our clients were acquired through references and personal contacts. We believe that this strategy would continue as we work very closely with our clients and understand their needs locally and internationally. We also believe that BOKS International would be another link that will help us target international clients.
No. We are prepared to offer our services to all business sectors.
Significant changes await our profession in the coming years. Numerical changes and artificial intelligence will impose new methods, techniques and rules. Even traditional activities such as audit will have to change working methods and take advantage of new technologies to gain in terms of cost and profitability. On the other hand, we believe that consulting activities will be the most affected by these changes. We must prepare ourselves for these new challenges and take advantage of new technologies in order to increase the growth of our professions.
We are planning more work in the African continent and in particular Francophone Africa (Ivory Coast, Senegal, Mauritania, Morocco, Guinea and Djibouti), whose countries use the same laws as those applied in Tunisia and inspired by French law. In addition, the French language applied in these countries allows us to send, to the consulting and audit missions, our Tunisian collaborators who master the French language (language of study in Tunisian Universities). Finally, the African continent has achieved the highest level of growth compared to all other continents. Not being a saturated market, the opportunities and prospects are enormous and allow us to plan more growth in these countries, especially based on our knowledge of the terrain and the business environment, which remains very specific to Africa.
Over the next five years, we will develop the foreign market in order to export more of our services. Our firm will also benefit from being part of BOKS International and we plan to invest more in new technologies and artificial intelligence in order to be up to date, not to be overtaken by competitors, and to improve the positioning of our firm in the next five years.
The life and the future of a company are only the sum of a set of challenges that never stop, as long as there is still life in this entity. The main challenge is to keep up with the pace of growth of our firm, to keep up with the legislative, regulatory and technological changes that are advancing at high speed, while maintaining the human size of our firm.
30-40%
Our firm works with local and international clients (in particular subsidiaries of European companies established in Tunisia). Our business advisory services cover Business creation; Business plan; Tax optimisations; Corporate valuation;…
The presence of BOKS in several countries is an opportunity for our firm and our customers who wish to work internationally. Our firm frequently works with local clients who have subsidiaries or assignments abroad. Our membership of an international alliance will give our clients an opportunity to contact the law, audit and consulting firms present in these foreign countries. Our clients will be better served and will certainly appreciate working with us, Cabinet AMF Tunisia, which is part of an alliance present in several countries. Moreover, our membership in BOKS International will allow our firm to be more up to date, to benefit from the experience of other members around the world, to participate in regional meetings and annual conferences in order to discover new developments in our fields of activity.
Based on my professional experience in international audit networks, I appreciate the high standards applied by BOKS International's management. In my opinion, this explains the solid growth of BOKS International in previous years. In the future, I am confident that this strong growth will continue, including a presence in several new countries. It will be very interesting this year in particular because it will correspond with the year 2020 (Top 20 in the year 2020).
We have many types of clients in our firm but if we have to choose a typical client, it will be an SME company with a share capital closed to a reduced number of partners. Small and medium-sized companies generally export partially because the local Tunisian market is not large (10 million inhabitants), but the export possibilities are important thanks to the strategic position of Tunisia (as a gateway to Africa), the advanced know-how and the high quality of its engineers and workforce compared to the neighbouring countries. The typical small and medium Tunisian company client of our firm is generally an industrial or service company.
Our firm has accompanied the creation of a new economic entity in Africa (Guinea Conakry) by preparing the business plan as well as the implementation of accounting and internal control systems to ensure a successful start-up.
We offer special assistance to clients seeking international services, anticipating in advance the obstacles that may hinder the client abroad, analysing the differences between the laws and business environments of the countries concerned and assisting clients in their international business, whether by our firm or by the other member firms of BOKS International.
Tax optimisation
The future is looking great and is likely to be exciting. New frontiers in the digital space are being explored and this is likely to expand the scope of the profession, both in the financial and taxation sphere. As the world gets smaller business-wise, there will be a lot of transborder transactions that will positively impact the accountancy profession, both in terms of employment for the accountant and opportunities for accountancy firms.
Our growth strategy is to try and grow from within in terms of staffing and to explore partnerships with other like-minded firms in Nigeria. We are also looking at growing our advisory income in the coming years.
Growth in our fee income by more than 100% and concomitant increase in specialist staff to support the growth. We also intend to explore the inclusion of earnings for the firm, in international assignments.
The biggest challenge for us as a firm is the pushback on fees by clients. This sometimes leads to inadequate payment for work done. Other challenges include the constant turnover of trained staff.
Less than 2 %.
Bookkeeping, recovery of statutory deductions from employers other than taxes for regulatory organizations, and Loan recovery for financial institutions.
To leverage on the relationship for training, networking, and access to international assignments.
To grow to be a top 10 international alliance.
Medium and small companies operating in the service, manufacturing and financial sectors in Nigeria.
Presently working as a tax consultant for United States Pharmacopeial (USP).
We indicate to existing and prospective clients that we are part of an international alliance.
We specialize in Audit, Tax and Advisory.
As it is in other professions, the accountancy profession is also changing and developing as a result of digitization and technological developments. We believe use of cloud systems and blockchain technology is started the revolution process in our profession.
Our growth strategy is mixed in terms of organic and inorganic growth. We are mostly growing by referrals. Hence, to sustain this growth we want to maintain our quality service and also develope new services. We are also planning to make a strategic acquisition.
We are aiming to double the size of the firm by strategic acquisition and providing business process outsourcing services in variety fields within 5 years.
We want to be one of the leading accounting and advisory firms in Turkey in terms of digital applications. We want to automate the accounting process as much as possible and train our employee mostly in advisory areas. This conversion process is full of challenges but we overcome obstacles day by day.
7 percent of our work is related with international clients.
Our main business advisory services are financial consulting, tax and incentives consulting.
To increase our international network and number of clients was our main driver for being part of an international alliance. BOKS International provided us clear directives and objectives since from the beginning. These objectives made us realize the mission of BOKS International which we embrace as well.
BOKS International is a result-oriented alliance and they work by dedication. I believe their efforts will be rewarded by full global coverage with member firms who provides quality advisory services in 5 years from now.
Our clients are mostly small-medium sized growing companies who needs accounting and tax advisory services. Their common characteristic is, they want to work with their partners in a long term with full of trust. Our clients wants to feel support of their advisors in achieving their objectives.
In last quarter, we have established three different companies in Turkey for our clients who are from Spain, Congo and Jordan. These companies operates in various sectors.
We are closely following our current client's operations and we become aware of their international service needs on the right time. Our new clients mostly come from referrals.
We specialise on accounting methodology of tax and social security incentives provided for the companies who operates in technology development zones or as a research and development center. There are different types of tax and social security incentives declared by Turkish Government which have to be calculated and keep track of carefully.
Although law firms are confronted with competition from all sides (legal departments of insurance companies, in house lawyers, legal freelancers, legal departments of accountancy firms etc.), a lawyer in The Netherlands still has a privileged position. We have the process monopoly in the Dutch courts to represent justice seekers. Given the information that is available on the internet, we do expect that at the end of the day only the law firms that heavily invest in knowledge (systems) and permanent education of their lawyers, will survive in the next decades.
We are aiming to invite senior lawyers who are providing added value to join our company. The search for compatible future partners is proving to be difficult. At the same time we are offering postdoctoral courses to our talented associates in order to create more leverage and enable them to apply for a shareholders' position.
Our firm will surely be located in its present spot, right near Schiphol Airport and very close to the financial and legal center of Amsterdam, the so called Zuid-as (within 1 mile). The Amsterdam court is at the same distance and our international clients are always presently surprised by the short distance from Schiphol Airport, which is only 10 minutes by taxi or train. From a growth perspective we hope and expect to realize a growth between 25 and 40 % fte over the next three to five years.
Our biggest challenge is to maintain our unique mixture of triple A clients and the pleasant working atmosphere.
Although the international work is more fluctuating, the average amount is 5 to 10 % of our total practice.
The binding factor of our advisory services is contracting law in the broadest sense. We are specializing in corporate law, company law, labor law, restructuring, intellectual property and IT-law. We also have a tax lawyer on board (Ton Tekstra is both a civil and a tax lawyer) who is a national expert on the crossing between tax law and restructuring law. He wrote several standard works.
To be honest one of the main reasons to join BOKS was the fact that I lost the regular stream of new assignments via Dentons, the London firm that recently acquired Boekel, a big Amsterdam firm. We like to work for international clients and by joining BOKS we hope to continue to be able to do so.
This is a difficult question for somebody who has just joined. Of course we hope that BOKS will prove to be an important factor for the success of all the individual firms like ours. Having read about the ambitions of BOKS we would not be surprised if it reaches its goals and will be among the 15 largest global tax and legal networks.
We have such a broad diversity of clients that it is difficult to describe our 'typical' client. You might end up creating an image that resembles a so called duck bill or platypus. Seven or eight out of ten of our clients are either small, medium seized or large companies, several having daughter companies abroad, but we also provide legal services to our national banks, a large international entertainment company and the biggest charity organisation in the Netherlands.
Recently we have assisted an offshore company to close down the Amsterdam branch office and last year I went to the Amsterdam court to represent a south American company to discuss the compensation paid to their European managing director.
Most of our clients reach out to us via our existing international network. I was linked to the South American company via Uria Menéndez in Madrid.
Due to the fact that our profession remains a people business our clients can be found in the financial and insurance sector, we represent several wholesale companies in the construction market, healthcare organisations, publishers, printing industry, charity and many others.
Digital processing of accounting entries.
staff education and know-how transfer in an environment of digital transformation
15%
the stake in international clients constantly grows
a truly global alliance
we maintain an office / bureau center where subsidiaries of international groups can rent workplaces or offices --> demonstrate substance within transfer pricing situations. The corporate tax there is only 13.% all in. The offices are fully serviced / virtual secretary arrangements up to FTE-arrangements
We live in an era of incredible change, both inside and outside the accounting profession. If the future is built by technology and shaped by people’s values, then as accountants we are well placed to take advantage of the changes that come – provided we can identify, adapt and capitalise on the opportunities quick enough! The new technologies in automation, big data and artificial intelligence will become more sophisticated and mainstream, which will further erode the value of the traditional compliance services of the accountant. The phenomenal development in communications and social media, and the need for businesses to have a wider social responsibility, will impact on the demand for tax and other planning services. However an accountant’s value was never in the compliance services or the short-term planning services anyway – Our value has always been in the trusted relationship that we build with our clients, and the strategic expert advice, that only we can provide from our broad and comprehensive business knowledge. It’s this combination of expertise from a trusted source, business advisory service, which is the accountants real value going forward – That’s why we’re excited about the future at Taylorcocks, as we believe as a firm we are very well placed to grow this business advisory service, with our clients and staff, whilst embracing the new technology to deliver the compliance services
By UK standards, Taylorcocks is a young firm and has grown quickly over the last ten years (growing at over 10% per annum). This growth has until fairly recent, all been generated organically, driven by a highly proficient marketing team via direct marketing methodologies. This took the firm from nothing to £6 million turnover back in 2015 and gave us the solid platform, from which we could change strategy and embark on a more expansive growth strategy. Today, now £16 million our growth strategy, is one of strategic acquisitions. The UK accountancy market has a large number of firms with succession planning issues, which is a market we have developed an accountancy practice acquisition solution for. We therefore expect to grow much faster over the next few years
We are aiming to grow the firm through strategic acquisition and hence we expect the size of the firm to have doubled within 5 years. Currently Taylorcocks has offices in London and across the South of the UK, but through our acquisition strategy we expect to add additional offices in the Midlands and northwards
Staff recruitment has always been our biggest challenge. Because of our strong growth we are always creating opportunities for our staff to grow their own skills and prospects within the firm, so our staff retention has historically been very good (“touch wood” – an old English expression!). Taylorcocks is full of highly driven staff who have rose through the ranks to partner/key manager, having started their careers at the firm. However, we have grown faster than we have been able to develop our own staff in some areas and hence the need for external staff recruitment – It’s competitive and challenging to recruit talented like-minded people who fit with our firms culture and ambition
The world is becoming increasingly inter-connected and in the UK (especially since Brexit) clients are looking outwards far more than ever before. Although only circa 10% of our firms fees are directly related to international clients, our UK client base is predominately entrepreneurial owner-managed businesses who are increasingly raising concerns which have an international aspect, or need an international solution. Hence the importance for us to be able to access quality local advice from around the world in order for us to be able to provide our clients with the expert business advisory service we are striving for
Because of the growth we have successfully been able to achieve through our own marketing operations and acquisitions, we are particularly capable at advising our clients on direct marketing and change management processes. The combination of our technical knowledge, direct experience and a strong candid relationship with our clients, produces a powerful business advisory service for those clients seeking to grow their businesses. This complements the more traditional business advisory services we offer eg. UK business compliance, succession planning, tax planning and system improving advisory services
Being able to quickly access quality international knowledge and expertise to provide solutions to our clients is a key requirement for Taylorcocks, hence the need for the firm to be part of an international alliance/network. But we were wary from previous experiences of international alliances/networks and so we wanted more than just having an international label – we wanted to be part of an international alliance that shared our own values; one that was dynamic, ambitious and focused on providing excellent client service. Hence we chose BOKS International for Taylorcocks
We’re very excited for the future of BOKS International. Despite it being a very young alliance, there seems to be huge potential in the vision of connecting full service accountancy, tax and assurance practices, with corporate advisory legal firms, around the world, and targeting the ambitious entrepreneurial SME market. In 5 years time we would like to see BOKS International having full global coverage, with quality full service business advisory firms in all the major cities in the World
Ambitious owner-managed businesses are those which Taylorcocks is best placed to advise. The majority of our clients are SME’s who value our no-nonsense approach combined with expert technical advice and competitive pricing. Aside from that there is no atypical client. The Taylorcocks portfolio of clients covers a wide range of sectors and industries, without any significant concentration in any one area – all our clients are considered unique to us!
This month we have completed international assignments in Austria and in the Ukraine. Both these engagements related to audits of UK holding companies, where the main business activity was conducted abroad. In both cases the client chose Taylorcocks over one of the big 4 firms, for this work. We have a very experienced audit team at Taylorcocks, who use their expertise and pragmatic approach to ensure the most efficient and effective audit on these types of engagements
Through our direct marketing methodologies we do actively target clients which have an international aspect to their business, whether import/export activities or from their group structure. However we find that most of our UK clients, because of them being ambitious and entrepreneurial, will often raise queries or embark on strategies that require some form of international advice
No – we do not specialise in any particular sector or service, although there are some areas that we do not currently provide services to eg. Banking and Governmental sectors. Our clients are typically entrepreneurial SME owner-managed businesses, who are seeking a full service accountancy tax and assurance firm, to provide them with expert strategic advice for their business
Our profession is currently going through one of the biggest changes since the last decade. Part of our business gets less profitable or even redundant, or too time consuming in a society where time is more and more elementary. Therefore we prefer to emphasize on digitalisation so as to work in a contemporary manner, rather than “ticking off” permanent tasks within our valued clientele. We thrive to move towards specific and distinct consulting as well as a more proactive approach, where we prefer to guide and coach our esteemed clients on a more individual basis. Within the last few years we have gradually moved into a fully client orientated approach, which is focused mainly on companies. Thus we are more and more aiming to help grow internationally orientated, growing businesses as well as enterprises, and to additionally provide them with top quality tax and legal security. Close partnership and collaboration with our valued clients is therefore essential and of utmost importance to us.
Our growth strategy consists of a 3 step approach; Firstly we aim at developing our own business and by that we mean to aim to constantly improve as well as to innovate the standard process so as to take our expertise to the next level. In this way we can offer this same, first class consulting on the highest level possible, so as to shape and develop your company to the utmost potential it deserves and needs. This approach corresponds with the way our company is determined to constantly look at recruiting the most competent and innovative solution finders out there. Secondly we aim to collaborate with our clients in such a matter that we are able to improve their economic situation, to assist them with their daily processes as well as finding innovative solutions for their specific requirements. Lastly we aim at acquiring new clientele as well as team members who correspond with our views and beliefs as well as mirror our notion of the current world economy and on how our goals can be achieved accordingly.
Within 5 years from now, we can see PKS being in a leading regional position offering premium consulting businesses with international tax as well as legal questions. We will also be assisting businesses, providing them with innovative solutions for their processes and to be up to date with the current external requirements.
Our biggest challenge is to be able to manifest our vision as well as bringing this into the minds of the people, but also to find like- minded clients as well as team members who are looking for change and are innovative as well as entrepreneurial. Creating ideas and values as well as implementing them is probably the hardest challenge in business and one of the biggest changes throughout the last ten years.
Our current percentage of international clientele is around 3 to 6 % which consists mainly of our valued returning customers. Our future goal is to grow this international department and to have growing international desk - increasing our present team accordingly.
We currently offer legal and tax related services as well as international issues, auditing and accounting. At the same time we are working on expanding our business consulting department and would like to fully establish this until the end of 2022 at latest. Our ultimate goal is to be able to offer our clients a full package of comprehensive consulting.
As consultants we do not see ourselves as lone wolves and realize that we need a strong network, both internationally as well as nationally. We look for partners that we can trust featuring a straight forward organisational structure that leads to fast decisions and improvements. We do not see a single benefit from acquiring new clients, but also want to learn from BOKS members as well as share our knowledge in return. In this way we can build a strong alliance as well as best practice for cross-border collaboration in future.
We strive for this network not to be among the biggest networks, but the best working and most stable network. Our goal is to grow with the network and make new contacts as well as to find interesting new clients and partners to learn from and share information with.
This question is not easy to answer; there is not one specific type but our main goal is to work with clients who meet our values and point of view and who appreciate our innovative and “different” (naturally meant in a positive way) hands-on approach.
Last December 2019 we achieved a major international assignment. This mission was referred to us by our BOKS partner TC-Group (Thank you for your trust in this!) and the collaboration took from September 2019 to February 2020. Our client is an event organiser from UK planning a sports tournament in Germany. The main task consisted of consulting them in VAT and withholding tax issues from the registration to the submission of tax returns including the communication with the responsible tax authorities as an “all-inclusive” approach required by the client.
We will target to advertise our services in business magazines as well as through the great Boks network. Of course we will use social media as well as investing in linking our website and develop a system of promoting referrals, where existing, satisfied customers are kindly reminded that they may consider referring us further.
No we do not - as we are a jack of many trades and master all---- :)
There will be an increasing workload for all of us. A close cooperation between all professions (tax, legal, audit and finance) is more important than ever before. Just calculating taxes will no longer be enough to meet the needs of our clients.
In these challenging times we maintain a positive approach by keeping our clients as up-to-date as possible showing them the needed tools to keep their business going. Furthermore we help them implement these tools efficiently so as to keep the business flowing.
Advanced IT systems, global markets, international trade and the shortage of experienced personnel in some areas lead to an increased speed of changes in our profession. These developments can be very favourable for these tax and accounting firms that stay innovative, client-focused and increase the knowledge levels of their teams continuously. Especially corporate clients face the same challenges in their respective business sectors. These tax and accounting firms that can offer services to new needs of the clients and deliver valuable advise will thrive as the overall need for good consultancy is rising. On the other side, there will be a lot of firms in our profession that do not go this extra mile to hold pace with general client needs. They will face a challenging client environment as basic services are with increased IT a commodity. One part of staying innovative and prepare for these challenges is also to be a member of an international network like BOKS. I have the good feeling that all members of BOKS are on the side of the profession that continuously develop their skills and therefore will thrive in the coming years.
We ensure to deliver good service for a good value to our clients and stay focused on the need of our clients. A high percentage of new clients are recommendations from existing customers. We further develop knowledge in new and growing business areas that complement the core business and show higher growth potential in the future.
We will further develop a good reputation for high-quality advice and client-focused consultancy. Through organic growth with our existing clients and potential add-on acquisitions of smaller practices, we will steadily increase our revenues and team size.
Development of our team members. This encloses on one side finding additional and motivated employees for further growth. On the other side, the challenge is to maintain high knowledge levels in all relevant tax and accounting topics in an environment that shows the increasing speed of changes.
On the level of our tax advisors, the percentage of international work would be about 25%. On the level of the basic business processes (accounting, payroll) we have between 15-25% work for international clients.
Our core business is tax, accounting, auditing and payroll services. Furthermore, M&A Transaction Adivsory and Tax Structuring play a significant role in our business. We have additionally very good expertise in Company Valuations and Digitalisation Support for companies. During the COVID pandemic, we support our clients especially regarding liquidity management, government support and adjustments of business plans.
Due to Globalisation and advanced IT-systems, companies with a good product or service have nowadays access to markets in many different countries. This development drives the international growth of our clients and this, therefore, needs to drive also us as advisors. BOKS is an excellent possibility to get access and maintain contacts to quality tax and accounting colleagues worldwide. Together, we can serve our international clients in a better way.
BOKS will have extended its network of members as more and more national accounting firms feel the need to engage themselves internationally. Once the COVID pandemic is under control, BOKS will also further develop the different in-person and online networking events between the members. For better transparency and to identify further improvements, BOKS will until then also have developed online reporting on global referrals, heat maps of meanwhile shared clients between the members and similar benchmarks to track the development and successes of the network.
We have a diverse range of clients with mostly entrepreneurial background: Entrepreneurs that have their own mid-sized company, further on larger scale corporate clients with up to 150 million EUR revenues, venture capital-backed start-up companies and technology-oriented businesses. We have further on good expertise on real estate development and holding companies.
An innovative medical group from Australia with new subsidiary in Germany to launch medical products approached us and we ensured setup, registration and correct filings for the company foundation. We have now an ongoing service agreement for the Geman Accounting, Tax and Payroll services. A special focus and expertise of us were, in this case, to provide a high level of digitalisation in all processes, to enable Australian group management direct 24/7 access and transparency to all German transactions and reportings.
We emphasise our international competence on our website and we are members in local business networks with an international focus. Mostly, clients are approaching us, as we were recommended by existing clients with international challenges.
We do not specialise on a sector, but we have special expertise for corporate clients with challenges regarding tax structuring, M&A, international tax issues or real estate-related transactions.
