Our latest Spotlight is on MGN Associates LLP, an accounting practice offering audit and tax advisory services.
In your opinion, what is the future for your profession?
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.
What is your growth strategy?
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.
Where do you see your firm 5 years from now?
We are working on having a presence in most countries across sub-Saharan Africa and globally through Strategic partnerships and affiliations.
What is your biggest challenge?
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.
What percentage of your work is international?
Less than 10%.
What business advisory services do you offer?
Audit and Compliance Services
Tax Advisory
Accounting
Payroll Management
Due diligence
Business Planning
Capital raising
Valuations
Feasibility Studies
Business Restructuring
Employer of Record
What was your main driver for being part of BOKS International?
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.
Where do you see BOKS International 5 years from now?
We look forward to BOKS having members in most Countries across the globe.
How would you describe your typical client?
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.
Tell us about a recent international assignment:
We have been contracted to conduct due diligence on an organisation operating in a different continent.
How do you target clients who are looking for international services?
1. Through affiliations with other professional firms
2. Referrals
3. Through seeking prequalifications/framework agreements
Do you specialise in a particular sector or service?
We are an accounting firm that offers audit and tax advisory services.
