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Fédération des Experts-comptables Européens
Federation of European Accountants
www.fee.be Connect with European Professional Accountants @FEE_Brussels
FEE SMP Forum
The future of SMPs in a global society
1
18 February 2015, Brussels
Federation of European Accountants
12:30 – 13:30
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Federation of European Accountants
Item 6: Preparing practices for the future
13:30 – 16:00
External Guest: Jan Wietsma (author of A day in the life of
Klaas Ruiter; a glimpse into the future of an accountant)
3
Strategic Management
Experience from SMPs who
significantly reshaped their business
Objective: Prepare an SMP Info Pack
on strategic management
Technology
Software, cloud computing, big data
Objective: Prepare an SMP Info Pack on
technological developments
Federation of European Accountants
Strategy
4
Federation of European Accountants
Experience strategic management
IFAC SMP Committee
Antoni Gomez - Spain
mergers of smaller practices
5
Federation of European Accountants
Strategic Management trends (1)
The audit market:
More regulation en supervision
More IT – solutions
Big 4 will dominate the Audit market
SMP must collaborate in the Audit business
6
Federation of European Accountants
Question
What is your opinion about the future of the
Audit-profession for the SMP’s
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Federation of European Accountants
Strategic Management trends (2)
The society becomes more complex
The entrepreneur needs help making the right decisions.
Both emotional and financial.
The SMP-accountant will become more and more a
business controller for SME’s
This requires new skills for:
Entrepreneurial behavior
Strategy
Marketing
Financing
8
Federation of European Accountants
Question
What are the challenges according to you for
SMP to advise and coach entrepreneurs?
9
Federation of European Accountants
An example from the Netherlands
The Credit Passport
Federation of European Accountants
The Credit passport
In one overview of the health of the enterprise
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Federation of European Accountants
Weighing
Self-insight - the fellow
Marketing - the firm
Cash flow - the funds
Network - Social Media
Federation of European Accountants
The entrepreneur is in control
Federation of European Accountants
Continuous-monitoring
E-assessment entrepreneurship
Financial data thru SBR
Insight in social networks
Federation of European Accountants
Pro’s
Enhancing self-insight of entrepreneurs
Lower process costs
Faster turnaround time
Continuous monitoring
Reduced fail costs
Entrepreneur
Finance
Customized
Federation of European Accountants
The Credit passport
An advisory tool for accountants
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Federation of European Accountants
Entrepreneur
Accountants
Suppliers
Customers
Banks
Advisors
Finance chain solutionChamb
er of Commerce
Tax department
Federation of European Accountants
The Credit passport initiative is be
supported by
The Ministry of Economic Affairs
Chambers of commerce
Tax authorities
Software suppliers
Banks
Crowd funders and credit unions
University’s
Accounting firms
18
Federation of European Accountants 19
Federation of European Accountants
Item 6: Preparing practices for the future
13:30 – 16:00
External Guest: Jan Wietsma (author of A day in the life of
Klaas Ruiter; a glimpse into the future of an accountant)
20
Strategic Management
Experience from SMPs who
significantly reshaped their business
Objective: Prepare an SMP Info Pack
on strategic management
Technology
Software, cloud computing, big data
Objective: Prepare an SMP Info Pack on
technological developments
Federation of European Accountants
Technology
21
Federation of European Accountants
Experience technology
Ray Baxter – United Kingdom
working with cloud systems
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Federation of European Accountants
Trends
Cloud technology
Bring your own device (BYDD)
Mobile
Smartphone's
Working
Transaction and paying
Big data
Data analyse / IT-audit
Data chain integration
Web strategy
23
Federation of European Accountants
Issues to discuss (1)
Which trends are opportunities for your
organisation and why?
Knowledge and skills
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Federation of European Accountants
Issues to discuss (2)
What about privacy and protection (hacking,
phising, spoofing, social engineering, pharming,
scam)
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Federation of European Accountants
Solution Control environment
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Federation of European Accountants
Solution
27
Federation of European Accountants
Concluding remarks
16:00 – 16:30
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Next steps for the practice of the future
Federation of European Accountants 29
Order your own copy or e-book
• http://www.boekenbestellen.nl/boek/a-day-in-the-
life-of-klaas-ruiter-husband-father-and-
accountant/9870
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