MGO is one of the fastest-growing professional services firms in the United States.
We asked Director of Communications, Tim Wells, to answer our questions on some key issues in the accounting sector.
In your opinion, what is the future for your profession?
We think the future is very bright for our profession. In addition to the opportunities created by technology (e.g., RPA, AI/Virtual Assistants and Data Analytics powered by machine learning) we’re at a time when the collective social conscience is looking for “trust and assurance” services related to the environment, sustainability and governance. As the trusted advisor, CPAs are in a unique position to lead the charge in this area.
What is your growth strategy?
Our growth strategy is based on an industry specific, platform service model. The big opportunity is being created by the sharp acceleration and development of new technologies outpacing our ability as humans to adapt. We have invested heavily in creating teams and capabilities that will help our clients bridge that gap and successfully and sustainably grow their businesses during this age of acceleration.
Where do you see your firm 5 years from now?
We believe there is an incredible opportunity to grow over the next 5 years for leading firms that can make the pivot to an exponential organization. We will be a top 25 U.S. based global firm with teams based in priority markets throughout the world. Our unique point of view, global resource strategy and focus on helping our clients prepare for and adapt to what’s coming next will differentiate us from other firms.
What is your biggest challenge?
Our biggest challenge is building out the resources (both human and technology) fast enough to meet the growing demands of the markets we serve. It’s complicated further by the multi-generational workforce and the need to reskill, upskill and continuously skill. This challenge and how we are solving it is at the heart of our organizational development strategy.
What percentage of your work is international?
Roughly 15% of our work is international.
What business advisory services do you offer?
We offer a wide array of advisory services, including forensic advisory; governance, risk and compliance advisory; management consulting; cybersecurity and technology solutions; and transaction advisory. We also provide a variety of tax consulting services, most notably inbound and outbound international tax structuring—as well as transfer pricing, tax controversy, valuation, CFO advisory and bookkeeping services, and supply chain planning.
What was your main driver for being part of BOKS International?
MGO’s global footprint and international client base continues to grow at a rapid pace. Part of expanding our capabilities abroad includes our alliance with BOKS International. BOKS International has a myriad of financial, technology, and legal subject matter experts that will add value to our clients.
Where do you see BOKS International 5 years from now?
In 5 years, we see BOKS International as a leading global alliance leveraging a vast network of legal, technological, and accounting professionals to provide a holistic solution for our clients.
How would you describe your typical client?
Our typical international client is one who operates in many different countries including the U.S. and rely on us for assurance and specialty tax and financial compliance and advisory services. Specific services we commonly provide our international clients include inbound and outbound international tax structuring, transfer pricing, tax controversy, valuation, CFO and bookkeeping advisory services, R&D tax credits, Subpart F analysis, and global statutory audits, to name a few. We also assist many companies looking to expand in the U.S., either organically or through acquisitions.
Do you specialise in a particular sector or service?
While we have clients in a variety of industries, we have dedicated practices areas in Biotech and Life Sciences; Cannabis, Hemp and CBD; Entertainment, Sports, and Media; Gaming, Hospitality and Tribal Governments; Real Estate and Construction: Private Equity; and Technology. As for services, MGO has strategically grown our expertise in several specialty tax and assurance service areas not traditionally covered by many accounting firms. From M&A advisory to Foreign Tax Credit Analysis, IPO Structuring to Agreed-Upon Procedures, if there is a specific accounting niche our clients need, we generally can service that client in house.
