NEWS AND VIEWS FROM PRAXITY PARTICIPANTSACROSS THE WORLD

2015

#1#3

#2

Social networking tipsHow to kick your social media strategy into high gear

Beijing beckonsInviting you to the Praxity Global Conference 2015

Middle East & Africa reportUnearthing the regional growth opportunities

#4

Holding onto the bestEmployee turnover is costly. As well as causing workforce instability, it can lead to reduced efficiency and lower effectiveness, and as firms we may then struggle to meet deadlines and client’s expectations.

One major reason good employees leave their jobs, despite good pay and good culture, is a lack of upward mobility. Few like to feel like they’re in a dead end job. People need to feel challenged and provided with a solid growth path that demonstrates they can do bigger and better things in the organization over a period of time.

Putting it all TogetherKnowing how Praxity firms work and our high expectations, I’m confident that we will continue to hire, train, retain and inspire others to follow our lead and have long term success with our firms.

Rick Anderson

Message from the Chair

When I’m in the midst of the tax season, I’m constantly reminded that we serve clients that construct physical buildings, distribute food, and manufacture machines that make components. All of these are tangible items. There’s a visible output. In our profession it’s different.

If you ask a client “what are you buying?” the answer is likely to be your skills, your expertise and your advice. They’re buying value, tax savings, peace of mind that everything will be filed properly. They’re buying help to improve their profitability, and solutions to their creditor and cash-flow problems.

Our people are our only resource. It may sound like a no-brainer, but investing in our people has never been more important as it is right now. Our workforces are more than just extensions of our current businesses; they are critical to our future. Keeping them engaged and challenged is paramount to their success and, ultimately, of the success of the firm.

As a sector, professional services continues to face increased regulation at national, regional and international levels. This is leading to increasing demands for knowledge and skills. Rarely will a month pass when I don’t read something about skills shortages and how it’s hurting our profession. It’s something that the UK Working Group conference touched upon in early March (see page 12). What’s more, the challenge of attracting and retaining talent is not limited to our sector. CEOs in virtually all businesses cite it as an issue.

Attracting the best peopleAs well as struggling to recruit and attract talent, not being able to fill vacancies heaps even greater pressure on our current workforce. As firms we have a duty to set our people up to succeed. Many Praxity firms are on the case and continue to earn ‘best place to work’ accolades. Kaufman Rossin and Plante Moran are once again featured in this edition of HUB for their workforce programmes.

Financial reward is no longer the overriding factor in career choice. Although the Big Four might attract a large share of applications, it’s because they are names people recognize. That’s understandable, as you do need a strong brand to entice the best. Showcasing the international assignments that Praxity firms work on could be a way of reaching out to young people looking for excitement and variety in their career. Social media is another way of engaging with this audience. For tips on how to elevate your presence, read the tips from share by Lisa Cawley Ruiz and Samantha Cronn from Kaufman Rossin on page 9.

Building competence and confidenceWhile there always is a certain amount of training on the job, formal training is equally essential. Developing your people is an investment in their future. It also builds loyalty and future skill sets, and will provide a return on your investment for years to come.

Commercial awareness for young entrants is always going to be challenging. In terms of ‘work readiness’, graduates may have nailed the accounting techniques and academic theory; few will have experienced what it’s like to work on a project and how to communicate and market your services to clients.

For everyone I speak to, the fun part of our business is not sitting behind a desk crunching the numbers, but getting out in front of clients and solving specific problems. People inherently learn by observing others, especially in soft skills like leadership, sales and marketing. In order for people to do this well, partners and senior managers have a duty to guide the young and inexperienced. You can’t expect people to simply know how to do certain things, particularly if it is proprietary and unique to your organization. This is especially true when explaining what it means to be part of Praxity. The new client brochure (see page 6) developed collaboratively between the Praxity executive office and several member firms provides clear explanations of how we work together, as does my interview on page 18.

WelcomeMessage from the Chair

2

Regional reportProfiling Praxity firms and growth opportunities in the Middle East & Africa

4 – 5

Praxity newsUpdates on support resources, our PR success stories and new whitepaper on diversity

6 – 7

FeatureMaking our OECD caseThe abridged version of the Discussion Draft submission prepared by Praxity members

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FeatureHow to be more effective on social mediaTop tips from Kaufman Rossin’s two gurus

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Praxity conferences Plan your October trip to Beijing

10 – 11

Praxity conferencesUK conference roundup and save the dates

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News from ParticipantsAll the latest from Praxity firms

13 – 17

InterviewNew 5-minutes with… feature, starting with Praxity Chair Rick Anderson

18

GalleryYour pictures tell the story

19

#PraxityConferences

#PraxityEvents2015

2 HUB 2015 ISSUE #2

WELCOME

HUB 3

CONTENTS

Firms with offices in the region

Brand Finance PLCwww.brandfinance.com Founded: 1996Headquarters: London, EnglandOffices: 10 (1 in the Region)Personnel: 43

Cheetah Management Serviceswww.mri-cheetah.com Founded: 1998Headquarters: Madeira, PortugalOffices: 2 (1 in the Region)Personnel: 16 (2 Partners)

IFM Groupwww.ifmtrust.com Founded: 1972Headquarters: St Helier, JerseyOffices: 5 (1 in the Region)Personnel: 87 globally (5 Partners)

Mazars Groupwww.mazars.com Founded: 1940Offices: 250 GloballyPersonnel: 14,000+ globally (770 Partners Globally)

Plante Moran, PLLCwww.plantemoran.comFounded: 1924Headquarters: Southfield, MichiganOffices: 20 (1 in the Region)Personnel: 2,066 (263 Partners)

RCA, sroc, S.A.www.rca.acFounded: 1980Headquarters: Lisbon, PortugalOffices: 3 (2 in the Region)Personnel: 21 (4 Partners)

WeiserMazars LLPwww.weisermazars.comFounded: 1921Headquarters: New YorkOffices: 8 (1 in the Region)Personnel: 650+

Firms at a glance

Location report

Firms based in Middle East and Africa

Al Kharashi & Cowww.alkharashicaa.comFounded: 1982Offices: 2Personnel: 66 (4 Partners)

A-M.C.S. – AuditFounded: 1990Headquarters: Casablanca, MoroccoPersonnel: 28 (2 Partners)

Bansal & Cowww.bansalco.comFounded: 1973Offices: 4Personnel: 58 (10 Partners)

El Wafa Company for Financial Consulting and Accounting ServicesFounded: 2007Headquarters: Ramallah, PalestinePersonnel: 16 (2 Partners)

Griffin Nagdawww.griffinnagda.comFounded: 1977Offices: 4Personnel: 30 (3 Partners)

Hameed Chaudhriwww.hccpk.comFounded: 1957Offices: 2Personnel: 75 (6 Partners)

MBT & Brit Pikuach Groupwww.britcpa.co.ilFounded: 1934Offices: 7Personnel: 204 (11 Partners)

Moores Rowland (Lesotho)Founded: 1975Headquarters: Maseru, LesothoPersonnel: 22 (3 Partners)

Nobani & Cowww.nobani-co.comFounded: 1994Headquarters: Amman, JordonPersonnel: 128 (4 Partners)

Seshachalam & Cowww.sesco.inFounded: 1957Headquarters: Hyderabad, IndiaPersonnel: 39 (5 Partners)

Praxity in the Middle East and AfricaRegional coverageFor many centuries trade has been integral to the Middle East and Africa region. With its oil wealth, population growth and strong demand for all manner of industrial and consumer goods, the region is an attractive market for many manufacturers. Most companies plan to expand significantly in the region, especially in the Gulf States.

Praxity’s member revenue in the Middle East and Africa was US$131,226,488 in 2014, a year-on-year increase of 7.2%. Our alliance has coverage in all of the key economic centres, including Algeria, Bahrain, Egypt, Iran, Iraq, Jordan, Kuwait, Lebanon, Libya, Morocco, Qatar, Saudi Arabia, Syria, Tunisia, Turkey and the United Arab Emirates.

Who’s who?

Sector/service expertise

Aside from the traditional audit, accountancy and tax planning and reporting and transactional tax services, Praxity’s Africa & Middle East firms have the following specialist skills. To find an expert, log into Praxity’s My Site, search by specialism and make contact with people direct:

• Audit and Assurance• Agriculture• Budget Comment• Capital Markets• Competition Services• Construction• Corporate Finance• Employee Benefit Services/Pensions• Employer Solutions• Energy & Mining• Entrepreneurial Services• Financial Services• Forensic Accounting• General Accountancy• General Consulting• General Taxation• Government and other Public

Sector Audit

• Governance, risk management and internal audit

• General Consulting• Hospitality and Tourism• Healthcare• Indirect Taxes• Insolvency• International Financial Reporting Standards• Legal Services• Life Sciences• Manufacturing and distribution• Media• Not or Profit, Charities, Public Sector

consultancy• OMB/Family Businesses • Outsourcing Services• Private Client – Personal Finance• Professional service firms

• Property/Real Estate• Public Interest Enterprise (PIE) Audit

and Assurance• Renewable Energy and Environmental

Services• Research and Development Tax Relief• Retail• Tax Investigation Services• Taxation International• Taxation of companies• Taxation of individuals• Technology of Advisory Services• Telecoms• Transaction Tax• Transportation• Wealth Management and Financial Planning• US GAAP reporting (for non

US Participants)

Regional fast facts

Dr. Ahmed Shawki is Chair of the Praxity Middle East & Africa region and is the Managing Partner of the Mazars Egypt practice (since 1992). He is committed to the improvement and expansion of the business environment in Egypt, evidenced by his many professional-related activities.

In addition to actively participating in the development of audit and accounting standards for Egypt, Dr. Ahmed worked with the Capital Market Authority to rationalize policies for the evaluation and audit of unit trusts. He also represented the viewpoint of the Egyptian business community throughout the development of Egypt’s new tax laws. He has published numerous research papers in the UK, France and Egypt.

Other key Praxity people within the ME&A region include:

Hilton Saven: Chairman of Mazars South Africa, Vice Chair of Praxity’s Management Board and a Praxity Governing Council Member.

Kariem Hoosain: Director (Mazars South Africa) and Praxity’s go-to expert for Africa.

Approximately 7.5% of world trade

passes through the Suez Canal. With second

waterway being built, revenues are anticipated to more than double to

US$13billion by 2023.

Key sectors driving growth in Africa

are telecommunications, banking, retail,

construction, agriculture and resources.

Many states in the region have enacted

commercial agency laws relating to distribution of products through a local

company/agent, which can present major challenges

for international investors.

Africa is estimated to host 30% of the

world’s mineral reserves, and an even higher

proportion of deposits of gold, platinum,

diamonds and manganese.

UAE has emerged as the region’s main logistics hub, with

Dubai Logistics City and the Jebel Ali Free Zone among

the most innovative projects. Abu Dhabi and Sharjah have

also invested heavily in infrastructure.

Although concerns over political risk, bureaucratic red tape and a perceived lack of transparency in the region may have dented business confidence in more developed international markets, regime changes are sparking optimism among trade analysts that some sectors will become major growth markets for global trade.

This is a highly diverse region populated by more than 350 million people. North African countries especially are located at the crossroads of key international trade routes. The most recent World Economic Outlook from the IMF (July 2014) signals that economic growth across the entire region, the GCC-countries in particular, is expected to remain strong.

Chair of the region, Dr. Ahmed Shawki, shares his economic observations:

4 HUB 2015 ISSUE #2 HUB 5

REGIONAL REPORT

Trus

ted

Collaborative

Seamless

Cre

dible

We are part of Praxity, accessing international resources…

when you need it.

Your business issues don’t stop at the border,

the solutions shouldn’t either.

“Our objective is to raise awareness of Praxity and the unrivalled expertise which exists among our members. Having provided editorial which clearly resonates with their readers, journalists are now turning to Praxity for expert comment and opinions,” highlights Fran. “They are especially interested in topical news statements and independent, evidenced-based pieces.” The springboard for many of the pieces has come via HUB, including Economia’s 800-word feature on EU audit reforms by-lined to Mazars, International Accounting Bulletin’s 1000-word article from Moores Rowland Indonesia on human rights, and International Accountant’s double page cyber-security coverage authored by experts at Kaufman Rossin.

International Accounting Bulletin also took a commentary from Praxity’s North American Tax Group on BEPS and its OECD recommendations, InterContinental Finance ran a Q & A piece with Rick Anderson and is running a double page

spread on the top 500 banking brands, courtesy of Brand Finance. International Accountant – impressed with the cyber security piece – recently contacted Fran for a last-minute commentary, after a contributor let the title down. She forwarded the Brand Finance piece.

“This is where we should be; magazines recognising the quality of our editorial and coming to us for comments on topical issues. In order to get global coverage in these respected titles, however, Praxity relies largely on volunteer subject experts,” comments Fran. “I have developed strong relationships with most financial editors and can pitch in ideas. I also monitor forward features to see where we can input. Titles are especially interested in hearing how people approach global challenges, such as BEPS, and having a reporter at the upcoming Global Tax Conference in Brussels will provide us with plenty of soundbites and material for the remainder of this year.”

Following feedback from a number of Praxity members, the Executive Office has developed a useful new client brochure clearly explaining the benefits of choosing a Praxity firm and how our Participants work together to deliver a seamless international client service.

New Praxity client brochure“There are more and more instances where clients are expressing an interest in appointing an international firm,” observes Praxity’s business development manager Deborah Poulter. “Few clients know that their local firm has direct access to global specialists through the Praxity alliance. While they may understand how an accountancy network like Grant Thornton International works, because we can’t call ourselves a network many do find it hard to grasp what Praxity is all about, how good our global service offering is and the value this brings to their business.”

Rather than focusing on the size and scale of Praxity, the content of this brochure shows we understand clients’ global needs, emphasises Deborah. “We provide the answers upfront and focus on the benefits of working with Praxity firms, both locally and globally. Powerful statements and quotes from clients, some of whom switched from a Big 4 firm to Praxity, support these messages. It’s clearly positioning Praxity firms as having that same ‘one firm’ ethos, but offering a cost efficient, viable and unrivalled alternative.”

The new brochure has been specifically designed so that it can be personalised by each Praxity firm and used to strengthen and support client tenders and discussions around cross-border assignments.

Copies can be downloaded from Praxity extranet > Resources

Suite of resources keeps growingThe Praxity extranet offers members access to many different types of resources that people can download, customise and print for use in client pitches, as well as employee inductions. Some of the most useful include:

• An updated 2015 Twinkle poster (April 2015) • An updated 2015 print ready Twinkle

brochure• Print ready new client-focussed brochure

‘Who Is Praxity’• Who is Praxity video, available to embed in

presentations and websites• Print ready generic and tax folders, which

members can insert meeting documents and business cards into (US sized folders available)

• A Praxity PowerPoint template, ready to drop presentation content into and conveying a consistent image

• Approved Praxity logos • Doing business abroad guides (35 in total)• Global real estate guide• Conference presentations• HUB magazines (recent and archived)• Weekly alerts from Graeme Gordon• New bi-weekly ‘Tax Blast’ from the Praxity

Core International Tax Working Group.

Log into and explore the Praxity Extranet to find out more – www.praxity.com/extranet. If you need a password set up, please contact website@praxity.com

Highlights to-date

Sent out on general release:• Praxity2014Results(January)• ItalianfirmPirolaPennutoZei&Associati

joins Praxity (February)• EuropeanAuditReformswillrockthe

status quo says Mazars (February)• MNPlauncheshealthandwell-being

initiative for Canada’s Aboriginal communities (April)

We’ve featured in:

International Accounting Bulletin: • BEPS–ANewParadigmor

Just More Complexity?• Businessandhumanrights–

whither the future (http://www.internationalaccountingbulletin.com/comment/business-and-human-rights-whither-the-future-4540284/)

Economia• Europeanauditreforms:keepingthe

objectives in sight (http://economia.icaew.com/finance/february-2015/european-audit-reforms-keeping-the-objectives-in-sight)

Inter Continental Finance• InConversation:InterviewwithPraxity

Chairman Rick Anderson and placement of Praxity logo on magazine cover (http://view.vcab.com/?vcabid=glrSehparScnchnrg&count=26/03/2015%2010:18:42-2)

• BrandFinancereport:BankingBrands Top 500

International Accountant• Cyberattacks;yourbusinessisonly

as strong as the weakest link • Top500bankingbrands

If you have a story idea, email a short synopsis to executiveoffice@praxity.com

Among the success stories noted in the report are:

MazarsMem bers of the Women’s Forum since 2007, Mazars ensures equal opportunities for employment, and sam e potential for developing a care er is offered to all members

of st aff. Diversity is one of Mazars’ key values and through dialogue it hope s to improve women’s access to po sitions of responsibility in the comp any. The forum also provides a pl atform for debating women’s

roles in the workplace and society as a whole.

DHGLast year, DHG awarded a Doctoral Scholarship to Joye Caston through

the PhD Project, enabling her to pursue a doctorate in accounting. Since its creation, the PhD Project

has increased the number of minority business professors from

294 to 1,253. The financial support offered by DHG is an example of the

firm’s desire to promote a diverse workplace.

Moss AdamsAlso featuring on the MOVE

Project ranking, women currently occupy 24% of partnerships at

Moss Adams, putting it ahead of many accountancy firms in both the US and globally. The firm’s

approach involves ensuring female professionals receive in-depth

feedback on what they need to do to climb the ladder. They have also

set up networking partnerships designed to help women grow their

client bases.

Plante MoranFeaturing on the MOVE Project list

(2014 Best Public Accounting Firms for Women), Plante Moran has

secured a solid reputation nationally for its work/life balance programmes. Plante Moran tracks the progress of

women as they seek to get leadership positions – last spring it published its

first-ever report that tracks its ‘women in leadership’ initiative – underlining the firm’s commitment to taking a strategic

approach to helping women break through the glass ceiling.

AronsonAronson has no problem giving top

positions to women, as illustrated by the career progress of Nicole Mitchell and Lexy Kessler. Nicole was named

a GWSCPA Emerging Leader in 2013, while Lexy is the partner-in-charge of Aronson’s Government Contract Services Group. Lexy credits her

success at the firm to eschewing the roles society assigns to both men and women. “You have to move past those invisible boundaries and take chances. Don’t let preconceived notions prevent

you from trying,” she says.

To view the full whitepaper, please visit www.praxity.com/news/Lists/Posts/ Post.aspx?ID=276

In February 2015, Praxity tackled the issue of gender diversity and the progress being made. Publishing a whitepaper, we drew attention to the key challenges and how the financial and accountancy world is shaping up.

“Research indicates that senior positions at the top firms are still mainly the preserve of men, despite a series of initiatives designed to make it easier for women to climb the career ladder,” observes Helen Jennings, Praxity’s Chief Operating Officer. “What’s so great to see is how Praxity member firms clearly grasp the benefits of fostering happy and productive teams and how participants throughout the world are shining the light on gender diversity.”

Across all of the 102 countries and 625 offices where Praxity firms operate, gender diversity is one of the key metrics considered by local, regional and national management. Praxity firms in general are viewed as being gamechangers. Many have invested in cultural programmes over the years to advance staff and partners on a true merit basis, and are not constrained by gender, or by any other social or historical discriminatory factor.

Gender Diversity: How our members are leading the pack!

MEDIA GAMEUPPING OURSince the start of 2015, Praxity and our member firms have enjoyed widespread coverage in a number of industry media outlets. This is due to the increasing number of topical commentaries firms have been feeding through to our PR consultant Francesca Breeze.

Seamless in action

Moss Adams has successfully

promoted Praxity’s international

capabilities to one of its largest

clients at the start of 2015.

Taking on EY, PwC, KPMG and

Deloitte, our Praxity member

firm showcased the seamless

global service and retained

the business!

6 HUB 2015 ISSUE #2 HUB 7

NEWS

Making our OECD case to policymakers... the abridged versionOn 5th February 2015, international tax experts from six US Praxity firms got their heads together to express their views on the OECD Public Discussion Draft on Revisions to Chapter I of the Transfer Pricing Guidelines relating to Actions 8, 9 and 10. The response focused on how the revisions might impact our clients, predominantly small and mid-sized entities (SMEs).

Having recently convened at the North American Senior Partners’ International Tax Conference in New York City, opinions on BEPS were fresh. Taking the input gathered from more than 20 attendees, Steve Amigone (DHG) Will James (BKD), Jerry Jonckheree (Plante Moran) and Michael Schwartz (WeiserMazars) articulated their views in a nine-page whitepaper.

Newly appointed Chair of the Praxity Alliance North America Tax & Fiscal Group, Steve Amigone, recaps on the key points made.

To view the full response, please visit www.praxity.com/news/Lists/Posts/Post.aspx?ID=270

What were the main concerns flagged?The BEPS agenda has far-reaching consequences. The planned overhaul of the international tax system will impact most multinational business entities. There’s also an overall presumption permeating throughout the Discussion Draft that multinational taxpayers consciously structure their intercompany dealings to evade paying taxes. However, bona fide contractual relationships between members of a multinational group should not be disregarded.

Can SMEs count on regional cooperation between taxing authorities? The current Mutual Agreement Procedure process is expensive and cumbersome and often not easily accessible to SMEs. Failure to adopt a robust and accessible dispute resolution process will encourage taxing authorities to take unilateral actions in the name of BEPS, which may result in double taxation. The risk of increased unilateral action – without a robust and enforceable dispute resolution – will create substantial uncertainty. This potentially adversarial environment will increase compliance costs for compliant SME taxpayers.

Why are Praxity firms so focused on SMEs? SMEs may not have representation before the BEPS committee and because Praxity member firms largely serve middle market clients we have a vested interest in supporting them. SMEs are especially sensitive to uncertainty. Most typically don’t have sophisticated intra-group tax structuring in place. Equally, they rarely have a lot of resources or capacity to spare to resolve dispute matters or prepare extensive transfer pricing documentation. Right now, many of the OECD Guidelines do not relax compliance or the level of scrutiny for SMEs through implementation of safe harbors and similar techniques.

What’s next?Following receipt of comments on the Discussion Draft in February, the OECD held a public consultation on the OECD Guidelines in Paris on 19-20 March 2015. As we wait to hear additional guidance from the OECD, the Praxity International Tax Conference in Brussels in May 2015 will highlight each of the BEPS initiative and its impact on SMEs. We will take a case-study approach to demonstrating the impacts each BEPS initiative will have on a typical multinational corporation. These training sessions will take a closer look at guidance and implantation as well as make recommendations for what our clients can do to manage the new world under BEPS.

Doesn’t a deviation from contractual arrangements suggest a tax-planning motive?It’s rarely that clear cut. Contractual arrangements are introduced as a tool to manage liability and risks. As a result, a departure from contractual terms cannot be explained solely by tax planning motives. The Discussion Draft wrongly intimates that a slight departure or deviation from the terms of the contractual arrangement casts the entire arrangement into doubt. Giving the relevant local tax authorities the power to re-characterize related party arrangements is not the ideal or logical solution in our view.

How can transfer pricing outcomes be bought in line with value creation? A key take-away from the BEPS initiatives for transfer pricing is to make sure your related party transaction has economic substance and business purpose. The BEPS initiatives will endeavor to find situations where related party transactions do not seem to follow arrangements typically found in 3rd party dealings. The areas that will present the greatest controversy will be IP or intangible assets, as the remuneration for the economic value creation and exploitation is often difficult to assess or quantify.

How do we feel about the emphasis on risk analysis?We believe that the analysis of the functionality of group members should be granted precedence and weight over the analysis of the allocation of risk. Our reasons include:

1 The risks are often harder to identify as opposed to the functions of a group member;

2 The financial impact of a particular risk is not easily quantifiable; and

3 It is often challenging, in practice, to determine comparables in the context of risk analysis.

Steve, Will, Jerry and Michael

Why did you recommend withholding finalization of the OECD Guidelines? The comments submitted in February will inevitably have raised issues and resulted in further revisions to the OECD Guidelines. However, we don’t believe it’s a topic that can be looked at in isolation without considering how it interplays with the other measures proposed within the BEPS initiative, e.g. interest deduction rules or permanent establishments. It was therefore our recommendation to withhold the finalization of separate drafts until the full scope of the BEPS rules implementation is clear.

Begin with the end in mind. What do you want to achieve overall? What are your goals for each social network? Different networks work better for different purposes.

Next, figure out which networks you should focus on. You can’t be everywhere and still do it well. Where are the people you want to reach? Consider the demographics and character of each network. LinkedIn is the most widely used network among U.S. accounting firms, according to a 2014 survey by SocialCPAs and Inovautus Consulting*.

Once you figure out where your audience is, think about the types of content you want to share and align your content with your goals. Some example goals and approaches:

• Engagement: Invite conversation; ask questions and conduct polls. Respond to comments and re-tweet. Consider investing in social media monitoring/listening tools.

• Education: Share thought leadership. Tools like Hootsuite can help automate and manage posts. Train firm professionals on sharing firm content.

• Brand awareness: Brand banners and other images; take advantage of free image editing tools like iPiccy.com and Pixlr.com. Share content like awards, community involvement, firm culture videos. Consider social media advertising.

• Employee engagement: To find out where the gaps are, survey employees about social media use. See how many employees are active on LinkedIn. Train employees on how to use social media professionally. Encourage participation.

• Recruiting: HR may want to invest in a recruiter account on LinkedIn. Regularly update your LinkedIn Careers page with job posts and content about firm culture.

No matter what your goals are, consider a mix of content to keep your audience interested.

Get the right people involvedWho should be involved in your firm’s social media efforts? Everyone! A social media program may start with your marketing department, but it needs support from firm leadership and other professionals for it to be most effective.

At Kaufman Rossin, our professionals play an important role in our social media efforts, especially on LinkedIn. We encourage them to maintain professional brands online, make valuable one-on-one connections, share firm content, participate in LinkedIn groups, and leverage their networks for business development.

Properly trained professionals can be powerful brand ambassadors and exponentially expand the reach of your social media program.

Measure performance for each goalRegularly look at metrics for each network and track performance over time. Start with built-in network data before adding free or paid tools to dive deeper.

For each goal, different metrics can help you track progress:

• Engagement – Comments, re-tweets, mentions, replies.

• Education – shares, impressions, clicks, minutes watched for videos.

• Brand awareness – page reach, post reach, impressions, likes, shares.

• Employee engagement – # of employees on LinkedIn and participating, # who have attended training, # participating in incentive program.

• Recruiting – # of job applications coming in through LinkedIn, # of new hires.

Leveraging social media can enhance your marketing programs. Social media efforts should integrate and align with other marketing and business development initiatives, and tie into your firm’s overall business goals and strategy.

Samantha Cronn handles social media and content for Kaufman Rossin. She can be reached at scronn@kaufmanrossin.com

Lisa Cawley Ruiz manages content marketing, public relations, web and social media strategy for Kaufman Rossin. She can be reached at lruiz@kaufmanrossin.com

Ever wonder if your firm could be more effective on social media? Whether your firm has an established social media program or you’re still struggling, here are three tips to take your firm’s efforts to the next level.

3 tips to kick your firm’s social media program into high gear

1

2 3

Determine your goals and develop a social media strategy

http://inovautus.com/2014-socialcpas-survey-study-results-releases-accounting-firms-use-social-media-today/

8 HUB 2015 ISSUE #2 HUB 9

FEATURE

#PraxityConferences

There’s an ancient Chinese proverb that goes: A single conversation … across the table with a wise man … is worth a month’s study of books. At Praxity we think this sums up the value of our annual Global Conference, where you can network with international colleagues, exchange client success stories and make lasting connections.

BRING ONBEIJINGGlobal Conference 18th to 21st OctoberHosted this year in Beijing, guests will stay at the luxury 5-star Grand Hyatt Beijing. Situated on Wangfujing, within walking distance of The Forbidden City and Tiananmen Square, Grand Hyatt Beijing is part of Oriental Plaza – one of China’s largest commercial complexes – with direct access to the adjacent shopping mall.

If you and your companion have yet to experience Beijing, make 2015 the year to visit. As well as offering three days of enriching conference content, we have an exciting mix of cultural highlights planned. The Asia Pacific Regional conference will take place on Saturday 17th October, running seamlessly into the Global Conference programme.

Exciting excursion programme Delegates are welcome to bring a companion to the conference, who will enjoy the very best cultural highlights while their ‘better halves’ attend to business. Among the treats in store for companions are:

• 19th October: A tour to Temple of Heaven, lunch at the Jade Garden and an afternoon visit to the Summer Palace

• 20th October: A morning rickshaw ride excursion to explore some traditional Chinese Hutong homes, meet local families and experience a tea ceremony at Drum Tower.

• 21st October: Pack lightly, as companions will get the chance to bargain for souvenirs and more at Silk Market, the most famous of all the shopping experiences in Beijing!

Delegates and companions can together explore:

• 20th October (afternoon) – The Forbidden City, touring the best-preserved imperial palace in China, home to 24 emperors of the Ming and Qing dynasty, and the largest ancient palatial structure in the world. Optional is the end-of-tour visit to Jingshan park and temple.

• 21st October (optional afternoon) – excursion to the Great Wall of China, with a meal on the return journey at Obelisco.

Gala dinner at Great Hall of People – 19th OctoberGuests and companions will dine in the political hub of Beijing. Located to the west of Tiananmen Square and completed in celebration of the 10th anniversary of the founding of PRC, it’s where the National People’s Congress is held and also where state leaders hold diplomatic meetings.

Dinner at Da Dong – 20th OctoberA trip to Beijing wouldn’t be complete without experiencing the very best roast duck dishes. Da Dong is famous for its menu, which offers many innovative recipes combining traditional Shandong cuisine and modern recipes. Of course its famous roast duck remains the mainstay. What better way to wrap up the 2015 global conference!

The overarching theme of this conference is looking to the future and the strategic opportunities that Praxity members are seeking to realise by 2020.

High-end dining experiences

Registration for Beijing will open

in the summer.

Visit www.praxity.com/conferences

to book your place and for updates on the programme

and conference agenda.

Extend your stay There are obviously many more

cultural gems to explore in and around Beijing.

If you wish to extend your visit four days either

side of the conference, the Praxity Executive

Office has negotiated a special hotel rate.

#PraxityEvents2015

10 HUB 2015 ISSUE #2 HUB 11

CONFERENCES

DHG principal at helm of Praxity NA Tax GroupSteve Amigone, principal and leader of DHG’s Transfer Pricing Services, has been named Chair of the Praxity North America Tax & Fiscal Group.

Leading the group throughout 2015, Steve will champion efforts to expand knowledge sharing, leverage Praxity’s global resources and deploy international tax training. This includes heading up the next educational meeting in November in Austin Texas, an annual event that is attended by more than 200 tax professionals.

“The Praxity alliance is not a Rolodex—it is a network of strong business relationships, which is fundamental to our business. My role is to engage the group to enhance client service worldwide,” emphasizes Steve. This volunteer position reflects the value DHG places on fostering strong global relationships.

Founded seven years ago, the group equips member firms around the world with extensive resources and a robust tax learning curriculum. Since its formation, the group has grown into one of Praxity’s most successful and dynamic working groups. Steve credits the group’s success to the unique level of involvement from its members: “Our group works so well because we are building long term, client-centric relationships. We’re all willing to roll up our sleeves and work together to achieve a common goal,” he says.

For more information, please visit www.dhgllp.com

Aronson makes its move on DeltekAn official Deltek partner since 2002, Aronson has acquired the GSA Schedule consulting business of Deltek’s Washington Management Group (WMG). Announced at the end of February, this newest transaction positions the US firm as the leading full service GSA Schedule consulting practice in the nation.

Aronson’s Government Contract Services Group provides a full range of accounting and business solutions for government contractors, including Deltek implementations, financial and contract compliance, business system adequacy and Cognizant/OIG audit support. Commenting on the firm’s latest transaction, managing partner Jeff Capron says: “The acquisition strengthens the longstanding partnership between Aronson and Deltek. It allows both companies to focus on their core capabilities in the government contracting market and continue to provide unparalleled service to clients.”

Leading Aronson’s GSA Schedule practice is partner Hope Lane. From small contractors to Fortune 500 companies, the Aronson team assists clients nationwide with identifying, obtaining and maintaining GSA Schedule contracts, as well as resolving complex compliance issues.

Likewise, the WMG business has strong industry connections. Acquired by Deltek in 2011, it offers a full suite of business development tools to enhance government contractor conformance and has more than 30 years of experience in the GSA space.

For more information, please visit www.aronsonllc.com

Providing valuable perspectiveStay up to date on the latest thinking about today’s critical business topics with Plante Moran’s CPE-approved webinars. There’s a packed schedule coming up, including:

FASB update: What healthcare providers can expect – 5 May

Protect your institution by managing risk – 7 May

FASB changes ahead for not-for-profits – 19 May

A roadmap for medical device companies: Realizing your full potential through integration – 28 May

Tax controversy: Beyond the 5 stages of grief – 2 June

Considering operations in Mexico? Uncover the unknowns first - 3 June

A legacy of stardust: Transferring wealth to your grandchildren – 4 June

Sharpen your focus on internal use software R&D regulations – 9 June

Cashing in on real estate development incentives: Insider tips you can act on – 11 June

Information security trends for K-12 – 25 June

CPE credits are available for participants attending live webinars.

Details about each session, including learning objectives and presenters, can be found at www.plantemoran.com/perspectives/webinars/2015

Patrick de Cambourg’s nomination for the presidency of the French standard-setting authority, Autorité des normes comptables (ANC), has been approved.

Having been proposed by French President Francois Holland, Patrick addressed both the finance commissions of the National Assembly and Senate, and was unanimously voted in.

The once Praxity board member delivered the same presentation to both commissions saying that accountancy was too often considered as a technical activity. “But accountancy is undoubtedly linked with political and social issues,” Patrick emphasised.

While he said it was too early to outline a detailed strategy for the ANC, De Cambourg identified three major issues the French standard setter should focus on, including reforming the European Financial Reporting Advisory Group, establishing a better dialogue with the IASB and achieving standard-setting success in specific economic sectors like insurance.

The Praxity team extends their congratulations to Patrick, who commenced his six-year tenure in March 2015.

Mazars chairman elected president of ANC

Returning to the Forest of Arden, delegates continued to elevate collaborative efforts. Chair of the UK Working Group, Neil Relph from Rouse Partners was pleased to observe how far the collaborative conversations during his two-year tenure have progressed and how these are translating into actions. “Every time UK Praxity participants meet I’m struck by how seamlessly the teams work together. Several years ago we were talking about how collaborating creates success, now we are doing it, encouraging our people to think and deliver client service beyond the individual firm to encompass other Praxity firms with the key specialists.”

Countless examples of where and how firms are sharing best practice and resources were covered during the group sessions. Among them, Neil notes the excellent examples shared by Tariq Javaid in the Corporate Finance workshop, Paul Gibson’s announcement about how Mazars will assist member firms in the charities workshop and not-for-profit space, as well as the ongoing sharing of information and problem solving within the audit and tax arenas.

Close to 70 delegates attended this year’s spring meeting, where the key focus was on the future of the profession. As expected, the audit, tax and business development professionals hotly debated this topic with people showcasing how they’ve been engaging clients through seminars and workshops.

Addressing several of the wider industry challenges that may hamper future growth of UK firms going forward, the issue of recruitment was raised.

“As economic growth in the UK continues, the shortage of skills is becoming ever more apparent,” observes Neil. “Recruitment of skilled people is a huge challenge to all firms. Retaining our good team is essential, coupled with attracting fresh talent. Whilst our Praxity membership offers the ability to share labour pools, all of us have constrained resources. The recruitment tap is being switched back on and we must start addressing the shortages across all business lines to ensure future success. Doing so will also address the other challenge of succession management within our firms.” In particular, the rise in M&A activities and increasing capital markets work is fuelling strong demand for firms that offer financial services. Reviewing the service lines that have performed especially well in the past 12-months, financial services has been the real winner for firms offering this specialism. “We see this trend continuing and anticipate significant growth opportunities in financial services,” adds Neil.

Throwing down the gauntlet, Neil wrapped up the conference with a challenge – to make a clean sweep of this year’s Practice Excellence Awards. “In 2014, Forrester Boyd and Rouse Partners reached the top 3. To have three Praxity firms in the top 3 this year would be a huge endorsement of our individual service strengths and cooperative efforts!”

The next UK meeting takes place in September 2015. To book your place, please visit www.praxity.com/conferences

It was a full house at the UK Spring Praxity conference, with representatives from every firm joining colleagues from German member FALK & Co (Gerhard Meyer and Steffen Ahrens) and Joel Mitchell from Plante Moran. Praxity Chair Rick Anderson also attended to hear how members are investing in and benefiting from the alliance.

UK participants spring into action

Save the date

Global Tax & Fiscal

Conference 2016

1st to 3rd May

The Imperial Riding School

Vienna, Austria

Save the date

Asia Pacific Regional

Conference 2015

17th October

Grand Hyatt, Beijing

China

Save the date Praxity Global Conference

2016 2nd to 5th October The Gleneagles Hotel Gleneagles, Scotland

Save the date

North American International Tax Conference 2015

9th to 10th November

Hyatt Regency, Austin, Texas United States

12 HUB 2015 ISSUE #2 HUB 13

CONFERENCES NEWS FROM PARTICIPANTS

Plante Moran partner Kimber Smail-Benedict has been appointed to the AICPA

expert panel for employee benefit plans. Kimber, who has 17 years’ experience in this arena, will work collaboratively with

nationally recognized experts to deliberate and come to agreement on key benefit

plan issues.

www.plantemoran.com

René Schöb has been named as the new Country Managing Partner of

Mazars Romania, succeeding Jean-Pierre Vigroux. Since the merger between Mazars and Adevaris (which René co-founded) in

September 2013, René has led the firm’s Tax Advisory Department, successfully expanding

their financial services, manufacturing, real estate, logistics, FMCG and pharmaceutical client portfolio.

www.mazars.ro

WeiserMazars and Mazars Group have released their third annual Media

Barometer Study. While revenue for the 100 largest North American and European

media companies increased by 5%, the survey revealed a widening performance

gap between the two markets which can be attributed to digitalization and the

adoption of new business models.

www.weisermazars.com/mediabarometer

MORE NEWS...

As one of the largest providers of professional services to Aboriginal communities and organizations in North America, MNP is well aware of the health and socio-economic inequities between Aboriginal and general Canadian populations, particularly in remote regions. To reduce these imbalances, our Praxity colleagues have partnered with HeroX (an online crowdsourcing platform) to launch a five-month initiative, inviting innovators across Canada and globally to share their ideas.

Unveiled on 11 March 2015, MNP is providing $35,000 in prize money for the Operation Blue Sky: Aboriginal Health Initiative. The most innovative idea will receive a $25,000 cash prize, while a second place winner will receive $5,000. In addition, a People’s Choice winner will receive $5,000. The competition runs until 12 August 2015.

“Our health care system is a source of national pride among Canadians,” explains Laurel Wood, MNP’s Executive Vice President of Clients and Services. “There have been some successful outcomes in recent years from Aboriginal-led health and wellness improvement initiatives. Nevertheless, some communities still experience considerably lower health outcomes than non-indigenous Canadians.

“The long-term goal of this challenge is to improve health and wellness outcomes for First Nations, Metis and Inuit communities through new ideas that create dialogue and inspire action to implement change.”

The sky’s the limitUtilizing MNP’s strong connections and resources, this philanthropic challenge is reaching out to bright and competitive minds nationally and globally, encouraging them to share new ideas that will improve community health and wellness outcomes in remote Aboriginal communities.

In this “ideation” challenge, submissions can include: •A technical or novel proposal•A concept paper•Designs•Pilot projects•New or improved technologies• Approaches using traditional Aboriginal healing

practices, mainstream Western medicine and / or practices, or any combination

The originator will retain ownership of the intellectual property. To ensure the Aboriginal experience is accurately represented, strategies should be developed from within Aboriginal communities or through meaningful conversations with Aboriginal communities.

By partnering with the international crowdsourcing platform HeroX, MNP is attempting to open the challenge up to the world’s brightest innovators. “The HeroX platform makes our challenge accessible to a larger number of competitors and taps into people’s entrepreneurial spirit,” explains Nicole Asselin, who’s managing the initiative at MNP. “Reaching out to our Praxity colleagues across the world, we encourage members to share information about this initiative internally and externally to rally further interest.”

For more information, please visit https://herox.com/MNPbluesky or contact Nicole Asselin, Manager, Operation Blue Sky: Aboriginal Health Initiative at nicole.asselin@mnp.ca

Inspiring action

In the 2006 Canadian census, 1,172,790 people identified themselves as Aboriginal, representing 3.75% of the Canadian population.

Despite large federal health care investments specifically for Aboriginal people ($2.4 billion in 2011 / 2012), very significant health and socio-economic inequities persist.

Health Canada reports that heart disease is 1.5 times higher in the Aboriginal population, Type 2 diabetes is 3 to 5 times higher and tuberculosis infection rates are 8 to 10 times higher compared with non-Aboriginal Canadians.

MNP issues pioneering Aboriginal health care challenge

Lego has been named the world’s most powerful brand according to the 2015 Brand Finance report.

The recent release and unexpected success of The Lego Movie caused Lego to replace Ferrari as the leader which dropped to 9th place. The report scores brands on various attributes, including emotional connection, loyalty, promotion, staff satisfaction, corporate reputation, financial performance and sustainability.

Brand Finance CEO David Haigh comments: “Lego is a uniquely creative and immersive toy; children love the ability to construct their own worlds that it provides. In a tech-saturated world, parents approve of the back-to-basics creativity it encourages and have a lingering nostalgia for the brand long after their own childhoods.”

The Lego Movie perfectly captured this cross-generational appeal. Taking nearly US$500m at the box office following its release in early 2014, the movie helped

propel Lego from a well-loved, strong brand to the world’s most powerful.

Unsurprising, new tech brands like Google, Facebook and Twitter are also making inroads in the Brand Finance charts. Apple was named as having the highest brand value in history and Twitter was revealed as the fastest growing brand.

Launching the report and commenting on the importance of branding, David said: “Huge investments are made in the design, launch and ongoing promotion of brands. Given their potential financial value, this makes sense. Unfortunately most organisations fail to go beyond that, missing huge opportunities to effectively make use of what are often their most important assets.”

As last years top brand, Ferrari is still a power to be reckoned with, although a change in leadership and relaxing the cap on production could further damage Ferrari’s brand power warns David.

To view the full story and study, please visit www.brandfinance.com

‘ Everything is Awesome’ for Lego

In an article published in The Australian on 17th February 2015, ShineWing’s Chairman Zhang Ke welcomed the high-profile anti-corruption campaign, which he believes creates greater stability for the accountancy profession in China.

He was quoted as saying: The accounting profession, “which has always had a law-abiding spirit,” welcomes the changes introduced by China’s president Xi Jinping. “In the past,” he says, “the decision to appoint auditors or accountants to work with government agencies or state-owned enterprises was not simply based on their capabilities,” alluding that relationships, connections or even dubious mechanisms came into play. “For firms like ShineWing, which has always been compliant, the changes will benefit us.”

In China, firms that seek to operate on their own predominantly comprise local Chinese partners. Zhang believes that way of operating will continue.

“In the capital market, the difference between the larger Chinese firms and the Big Four is less pronounced than other countries,” he says. “Our own listed company audits at ShineWing far exceed those of any of the Big Four, which wouldn’t happen elsewhere in the world.”

ShineWing’s future strategy involves intensifying its non audit services, including consulting across all sectors. The firm is also seeking to develop capabilities in the financial sector and is continuing to build its international business reach.

China’s accounting profession… at a glance• Approximately 250,000 Chinese people

have CPA qualifications, out of more than 300,000 people working in the profession.

• The revenue of accounting firms in China has seen double-digit growth for several years, reaching $11.6 billion in 2013.

• There has been a spate of mergers between accounting firms in China, strengthening their capabilities.

• There is now clearer differentiation between small, medium and large-scale firms.

• Eleven firms have emerged at the top end, including the Big Four.

To view the full article, please visit www.theaustralian.com.au/business/ opinion/praising-chinas-anti-graft-drive/story-e6frg9fo-1227221908446

Chairman praises China’s anti graft drive

14 HUB 2015 ISSUE #2

FEATURE

FGS to open Hamburg baseWith a growing client base in North Germany, this summer Flick Gocke Schaumburg is opening an office Hamburg.

A launch team of 20 equity partners, associated partners and employees will staff the multidisciplinary office, covering all tax aspects of legal advice.

FGS has maintained a desk in Hamburg since 2013, staffed by professionals from the Bonn and the Berlin offices. “Opening an office in Hamburg was the next logical step,” says Arne von Freeden, who alongside Johannes Baßler are pushing forward the new development. “Family-owned businesses in particular like to see long-term local presence from their advisors,” adds Johannes.

For the full story, please visit www.fgs.de

WeiserMazars announces new CEO

Victor Wahba has been named as the new Chief Executive Officer of WeiserMazars, effective 1st April 2015.

This move is part of WeiserMazars’ ongoing national expansion strategy and leadership succession plan. Previously the New York Office Managing Partner, Victor has served on the firm’s Executive Committee for nearly a decade, including overseeing recent mergers and acquisitions, all designed to advance the firm’s national strategic plan. Victor is also a member of Mazars Group’s Global Executive Board.

Douglas will continue to serve as the firm’s Chairman. He says: “I am confident that Victor possesses the wisdom, foresight and other attributes needed to guide WeiserMazars into the future. I have worked with him for many years, and I know that he will provide the firm with the energy and drive to continue to grow, as well as fostering the well-established professional and social culture of WeiserMazars.”

Commenting on his appointment as the new CEO, Victor said: “I have been part of WeiserMazars’ leadership for many years, and am proud of how the firm has grown and where we are headed. It is an honor for me to be named the CEO at this time of exciting development for our organization.”

For the full story, please visit www.weisermazars.com

Benefit plan survey results publishedRetaining valued, talented employees is a vital part of doing business, and employee benefit plans can be valuable tools in achieving business goals. Recent changes within the US, including the Affordable Care Act, are forcing organizations around the nation to reevaluate their benefit offerings to find the best balance between employer cost and employee satisfaction.

Praxity member Aronson LLC conducted their first annual Employee Benefit Plan Benchmarking Survey in early 2015. By collecting this information, the firm is eager to assist businesses design and execute the most effective plan and help them understand where they stack up against other employers.

The survey results, which went live in early April, reflect the responses of nearly 200 businesses, primarily from the Mid-Atlantic region. Employers were asked to comment on such topics as types of benefit plans offered, vesting methodologies, plan administration duties, plan options, third party advisors, non-elective contributions, and more. In addition to being a valuable tool for business advisors, employers across all industries will find the results useful in helping them define competitive benefits packages that attract key employees.

To view the key findings, visit www.aronsonllc.com/EBP-survey-report

A ‘Best Place’ in sunshine stateFor the ninth time, the South Florida Business Journal selected Kaufman Rossin Group as one of the “Best Places to Work”.

Kaufman Rossin won second place in the Large Companies category in the annual contest that included 200 total nominations and 40 finalists.

“Innovative ideas, training, social commitment, flexibility and transparency are just a few of the reasons that Kaufman Rossin is consistently named one of the best places to work,” says managing principal Blain Heckaman. “As we’ve grown, it’s very gratifying to know that our core values and firm culture continue to resonate with our expanding workforce. It’s wonderful to have joy at work!”

For the full story, please visit www.kaufmanrossin.com/news

Double triumph for Kaufman Rossin

CTA Intelligence has awarded the Kaufman Rossin Group two honors in the 2015 U.S. CTA Services Awards.

The firm’s hedge fund affiliate Kaufman Rossin Fund Services (KRFS) received “Best Valuation Service” for the second year in a row. In addition, the Group collected the trophy for “Best Tax and Audit Service.”

The CTA Intelligence awards recognize fund service providers that have demonstrated exceptional customer service and innovative product development over the last 12 months. Revenue growth, financial performance, new product development, client feedback and continued innovation are all factored in.

For the full story, please visit kaufmanrossin.com/news

The transformation to value-based health care is well under way. And DHG Healthcare continues to keep its finger on the pulse by establishing the headquarters for its Center for Industry Transformation (CIT) at the Global Center for Health Innovation in Cleveland, Ohio. DHG is the only professional services firm located in the cutting-edge facility.

From its space in the Global Center, the DHG Healthcare CIT expects to facilitate frequent, client-specific change management sessions and deliver ongoing education for diverse healthcare teams across the care continuum.

Sharply focused on the critical business issues facing healthcare organizations today, the DHG Healthcare practice assists clients to boost value while properly moderating their business risks. This ‘working laboratory’ is designed to foster innovation and advance the delivery of healthcare solutions.

Discover more at www.dhgllp.com

Improving access to healthcare expertise After 18 months of research

and consultation led by Mazars and the human rights practice Shift, the United Nations Guiding Principles Reporting Framework launched on 24 February 2015 at Tate Modern in London.

The Reporting Framework enables companies to report on their human rights performance, regardless of size. Organised in a series of ‘smart’ questions, it is designed to incentivise companies to improve over time. Questions are not prescriptive or directive, but ask companies to explain what they have achieved so far.

Richard Karmel, Head of Human Rights at Mazars explains, “The Reporting Framework acts as a further guide to companies on how they can modify their behaviours and enhance their controls to reduce the potential for negative human rights impacts.”

Phil Verity, senior partner of Mazars, and Caroline Rees, President of Shift, introduced the evening reception, which was attended by more than 180 guests and moderated by MEP Richard Howitt. The distinguished panel comprised Professor Ruggie, Jo Swinson and Marcela Manubens.

A catalyst for changeMajor international companies, including Ericsson, H&M, Nestlé, Newmont and Unilever, have already commenced using the reporting framework. Many more are expected to start implementing it throughout 2015. What’s more, 67 investment organisations representing $3.91 trillion of assets under management have signed a statement of support for the framework.

Last October, the European Union adopted a directive requiring around 6,000 companies to disclose non-financial information, including their human rights performance, by 2017. Richard notes: “If 2017 reporting is to be meaningful, new approaches are needed for behavioural change – now. We see the Reporting Framework as being the catalyst for change.” To view February’s launch Reporting

Framework, visit www.ungpreporting.org. For further information, please contact richard.karmel@mazars.co.uk or view his human rights related blogs at www.richardkarmel.co.uk

The third largest economic region in Australia behind Sydney and Melbourne, Western Sydney produces 38% of the overall Sydney GRP annually. The engine room behind this is SME businesses, reveals a new report supported by Praxity member William Buck.

A collaborative effort between William Buck, St. George Bank, Western Sydney Business Connection and the University of Western Sydney, the report titled ‘Making Western Sydney Greater’ earmarks the region as a major focus area for growth. Out of all the business groups, SMEs were the risings stars showing the strongest financial performance, in particular those with a turnover of $2-$30million or with 10 to 50 employees. Both revenue and profit is 6% ahead of budget for SMEs.

Greg Travers, Director at William Buck, comments: “To drive the development of the Western Sydney economy a focused strategy to support SME businesses with local procurement and training is needed. Impediments such as employment related regulations and payroll and employment taxes also need addressing if SMEs are going to achieve their full potential.”

More about this bi-annual survey and the report findings at www.williambuck.com

Making Western Sydney Greater

Big unveiling of human rights reporting guide

L-R: Jo Swinson MP, UK Minister for Employment Relations and Consumer Affairs; John Ruggie, Chair of Shift and Bertholt Beitz Professor in Human Rights and International Affairs, Harvard Kennedy School of Government; Marcela Manubens, Global Vice President for Social Impact, Unilever; Richard Howitt, MEP and European Parliament Rapporteur on Corporate Social Responsibility.

Phil Verity, Senior Partner, Mazars LLP, addresses the audience at the launch event of the United Nations Guiding Principles Reporting Framework.

What’s next?

Drafting of an Assurance

Framework, with Mazars

and Shift initiating further

multi-stakeholder

consultations in London,

New York, Singapore

and Johannesburg

throughout 2015.

HUB 1716 HUB 2015 ISSUE #2

NEWS FROM PARTICIPANTS

1. Everything depends on us!At the annual Audex conference, the message from CEO Ayrat Gimadutdinov was clear… everything depends on us! Summing up the successes of last year and awarding achievements, Ayrat addressed the entire workforce saying: “Today we see the challenges in the world, instability in the economy. We need to turn these external circumstances to our advantage … our motto this year is ‘everything depends on us’”. www.audex.ru

2. Plenty of ‘Toys for Tots’ to enjoyThe team at Boston-based firm Feeley & Driscoll generously donated close to 100 toys to the U.S. Marine Corps Reserve’s annual Toy for Tots 2014 campaign. This donation is just one of the many annual acts of community kindness that the team gets involved in. Other organizations to benefit from the firm’s regular charitable endeavours include the JPMorgan Chase Corporate Challenge; the Jimmy Fund – Dana Farber Cancer Institute; the Women’s Lunch Place and Habitat for Humanity. www.fdcpa.com

3. Forrester Boyd partner gives academy conference top marksAlan Nesbitt from Forrester Boyd recently spoke at a conference for schools and academies hosted at Europarc, Grimsby. As a specialist in academy audits and related advice, Alan rated the event highly, saying: “It covered a broad range of topics. The key message I shared was that governors should drive the provision and monitoring of financial information, rather than being passive receivers of whatever is provided to them.” www.forrester-boyd.co.uk

4. Celebrating giving with friendsWhen people share a common interest, they connect in a very special way. At the annual Kaufman Rossin Toast to Non-Profits, there was no agenda and no speeches – just a chance to connect with community leaders, say ‘thank you’ over a glass of wine, and see what synergies result. Read a blog about the event by Marketing Principal Janet Altman at www.kaufmanrossin.com/blog

5. 17 years racking up Best 100 accoladePlante Moran has been named to FORTUNE Magazine’s list of “100 Best Companies to Work For” for the 17th year in a row, ranking 29th this year. Since 1999, the year Plante Moran first appeared on the FORTUNE list, the firm has tripled in revenue and doubled its number of staff.

“It’s no coincidence that for the last 17 years the firm has experienced growth and success while remaining a mainstay on the FORTUNE list,” says Gordon Krater, Plante Moran’s managing partner. “The firm’s accomplishments are borne of a culture instilled decades ago by its co-founder, Frank Moran.”www.plantemoran.com

6. Manufacturing is in Lancashire firm’s bloodAlthough the region is home to a diverse range of businesses, manufacturing has been a key industry in PM+M’s rich history. On 26th February, the UK Praxity member firm, along with NatWest bank and the Manufacturing Advisory Service, hosted East Lancashire’s first Manufacturing Hub event, showcasing the growth, evolution and success of Hope Technology, world leaders in bicycle engineering. “It’s great to see a local business succeeding by staying true to its roots,” commented Tim Mills, PM+M Corporate Finance Partner. www.pmm.co.uk

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About Rick … I have been with Moss Adams, the 12th largest CPA firm in the US since 1973. From 1986 to 1993 I was director of accounting and auditing, while also serving clients, and became President and COO in 1993. And from July 2004 to March 2013 I served as the firm’s chairman and COO. I have served as a management board member at Praxity since 2009 and currently serve as its chairman

Moss Adams was … founded over a century ago. We employ more than 2,000 personnel and 250 partners and focus on serving public, private, and not-for-profit enterprises. We’ve always regarded ourselves as a game-changer. Moss Adams was one of the first major accounting firms in the nation to organize by industry, training our specialists not just in technical audit and tax matters but also in issues specific to our clients’ organizations.

I choose accountancy as my lifetime profession … I’d love to share a really inspiring answer. The reality is simpler - when I started taking accountancy courses in college, they came very easily to me and I enjoyed the topics. Back then my knowledge of the accounting profession was limited. I am grateful that the college major I opted for led to such a great career.

I’m motivated by … the incredible opportunities that this profession provides for daily interaction with incredibly motivated, educated individuals, with great integrity and vision.

I relax … in the company of my family, and by enjoying the great outdoors, camping, hiking and a spot of golf thrown into the mix!

What Praxity means to me … Moss Adams is a founding member of Praxity and we’ve always recognized the benefit of having access to global specialists. While Praxity did not exist at the start of my career, my exposure to leveraging international capabilities extends back to the mid-1970’s. I made three European trips with a colleague for clients that had activities in Germany, Switzerland and the Netherlands. I also liaised with a firm in Japan as we served a number of clients within the Alaska fishing industry. Being able to collaborate with international colleagues you trust underpins the importance of being part of this alliance. And these global needs of our clients continue to grow.

Promoting our international capabilities can be a real deal breaker … One of our largest clients, the world wide retailer Zumiez, recently went out to tender and Moss Adams was up against the Big Four. The team did a great job in showcasing our global Praxity capabilities and as a result we won and retained this client’s business.

Ask not what Praxity can do for you, but what you can do for Praxity … has been my constant mantra during my tenure as Praxity Chair. Ultimately, when we call upon someone for specialist expertise, we expect these people to be responsive and answer our call for support. Equally, the team at Moss Adams must be ready to rise to the occasion when Praxity colleagues call us. We must look beyond any financial motivation and appreciate that it may only equate to small portion of the work. However, for the requesting firm this is often a hugely important client.

In order to succeed in the global environment … we must be prepared to support other firms in achieving their goals.

Praxity isn’t the executive office located in the UK … That’s just our administrative center and has a compact staff. Praxity is the 100 participating firms; the 2,800 partners; the 35,400+ professional and independent minds. Utilized properly, it’s a hugely powerful advantage and can help every firm to compete on the global stage.

After being profiled in InterContinental Finance, Praxity Chair Rick Anderson opens up further about his career, life at the top and how the alliance supports his firm’s success and what this international offering means to clients of Moss Adams.

Five minutes with …

Rick Anderson

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18 HUB 2015 ISSUE #2

FEATURE

HUB 19

GALLERY

Our sincere thanks to every person that has submitted story ideas, news items, features, sound-bites and images for this edition of HUB. Do keep on sharing them with the Praxity Executive Office team, as we like to ensure there is a good balance of geographical, technical, sector and collaborative commentary.

We are especially appreciative to all of the following people who sent and reviewed articles, sourced quotes, captions and images for this edition:

Steve Amigone, Nicole Asselin, Justin Bow, Francesca Breeze, Diane Casey, Ryan Coley, Samantha Cronn, Tereza Dordia, John Durland, Jeremy Elwood, Thomas Feeley, Robert Haigh, Alice Grey Harrison, Ros Hatton, Daniel Hill, Mark Hu, Faye Hughes, Helen Jennings, Jerry Jonckheere, Richard Karmel, Nina Kaszina, Mindy Kroll, Torsten Kohl, Teresa McAlpine, Nora Olteanu, Deborah Poulter, Neil Relph, Lisa Cawley Ruiz, Lauren Schia, Carrie Sherreard, Stephanie Smith, Stacy Street, Michele Tremml, Bryony Vandepeear, Melissa Wilson.

We will be accepting articles for HUB #3 2015, which will be published in time for the Global Praxity Conference in Beijing, up until 17th July 2015. Please do continue to send us your latest news, industry views and collaboration case studies.

Email your stories and visuals to hubmagazine@praxity.com. We can publish more immediate news online. Plus, we welcome examples of collaborations and client case studies for our monthly circular In The Loop.

Praxity is a global alliance of independent firms. Praxity is organised as an international non-profit entity under Belgium law (a so-called IVZW or AISBL), with its registered office in Gent (Belgium), Bellevue 5/ b 1001. Praxity does not practice the profession of public accountancy or provide audit, tax, consulting or other professional services of any type to third parties. The alliance does not constitute a joint venture, partnership or network between participating firms. The firms that participate in the alliance are independent separate legal entities, and Praxity does not guarantee the services or the quality of services provided by participating firms. Praxity does not deliver services in its own name or at all. Services are delivered by the member firms. Praxity and its member firms are not agents of, and do not obligate, one another and are not liable for one another’s acts or omissions.

Copyright © 2015, Praxity – Global Alliance Ltd. All rights reserved.

2015

For more information, contact:Græme GordonExecutive DirectorT : +44 (0)1372 738 190E : ggordon@praxity.com GRG_Praxity

Executive officePraxity – Global Alliance Ltd.Suite 2, Beechwood57 Church Street, Epsom, Surrey KT17 4PXUnited Kingdom

T : +44 (0)1372 738 190F : +44 (0)1372 738 199Registered in England and Wales Company Number 7873027

www praxity com

Registered officePraxity IVZWBellevue 5 / b 1001B – 9050 GentBelgiumRegistration in England and Wales FCO27606Registered in Belgium 6/CH/15.437/S

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