Local excellence

JHI European Region AGM and Conference, Prague – May 25–27, 2006

Some 70 delegates and 40 guests attended May’s European conference in the beautiful city of Prague, marking the highest attendance so far at a European AGM. This record turnout, with 70% of European member firms represented, is a clear indication of the strength of the region and the commitment of JHI’s membership.

The conference, hosted by Richard Jahoda of Larix Consulting, welcomed the new member firm Arti Değer and four of its staff, including Abdulvahap Balkaya, the senior partner. The conference opened with a presentation by Richard Jahoda (jahoda@larix.cz) about doing business in the Czech Republic, followed by a range of presentations on both specialist and generic business issues. Sven Fritsche of RP RICHTER & PARTNER (sven.fritsche@rp-richter.com) led a session detailing the new initiative in legal networking within JHI Europe, which will strengthen and develop links between member firms with legal departments. Although some jurisdictions do not allow CPAs to employ lawyers and offer legal services, this new idea was greeted enthusiastically by a number of firms, 16 of whom met after the presentation to take the idea forward. The new legal group will be devising a strategy to develop the initiative, and hope to meet in Edinburgh as part of October’s Audit and Tax Conference.

The theme of the first day was practice management, a relevant and challenging issue for JHI’s member firms. Helmut Lohrmann of Lohrmann Riehle Laetsch Durach & Kollegen (lohrmann@lohrmann-koll.de) gave a detailed paper on his firm’s scheme for staff assessment, an evaluation tool which balances an employee’s contribution in terms of “hard” and “soft” facts, giving a transparent methodology for distribution of additional profits. Staff motivation and retention is crucial for success in any business, and this extremely practical scheme was of interest to many delegates. Wolfgang Stegmann from the non-profit co-operative DATEV (www.datev.de), based in Germany, gave a presentation on DATEV’s business, which supports the development of its 39,000 members through a range of data processing services, software and consulting in different European countries. As well as presenting a paper on its services, DATEV sponsored the delegates’ lunch on the final day of the conference and was thanked for its support by JHI’s European Chairman and Regional Executive Director.

The focus of the second day was on corporate finance. Nick Michaels and Justin Randall of London member firm Jeffreys Henry (nmichaels@jeffreyshenry.com or jrandall@jeffreyshenry.com) spoke about the European stockmarkets and the growing role of accountants in the world of corporate finance. Jeffreys Henry specialise in raising development capital, private placings and AIM and OFEX listings. The Alternative Investment Market is an attractive market for European companies seeking a listing, and is a real growth area for Jeffreys Henry. The presentation outlined the role of the reporting accountant in unlisted company transactions and extra requirements for listed companies’ transactions and IPOs, including due diligence, forecasts and working capital reports, financial assistance, taxation and commercial advice. This was followed by a related presentation by the prestigious UK law firm Halliwells, who are in the top five of AIM legal firms in Europe, as well as being one of the top ten MBO legal practices in the UK (www.halliwells.com). Halliwells has worked closely with Jeffreys Henry on a number of flotations and detailed the legal aspects of an AIM float, as well as confirming the opportunities for accountants in this growing market.

The conference closed with thanks from the Chairman for delegates’ enthusiastic support and the promise from the Committee to continue to develop the region in consultation with the membership. A gala dinner on the last night, accompanied by live jazz, gave delegates a chance to bid farewell to Prague in style. Next year’s conference will take place in Zurich, and will be held in May.

JHI Audit & Tax School

Luxembourg, December 2–4, 2005

44 Delegates representing 22 different firms from across Europe gathered in Luxembourg on 2nd December for the annual Audit & Tax school.

This was more than expected when the venue was booked and this resulted in several delegates having to stay in another hotel a few miles away in Germany because we had completely filled the hotel. An encouraging problem, and one which should encourage all future attendees to book early to save inconvenience!

The Tax Group programme featured guest presentations by two representatives of an external tax consultancy firm on:-

• “How tax authorities counter the use of offshore structures”;
• “The impact of the EU savings Directive”; and
• “Developments in VAT across the European Union”

The tax group otherwise followed a flexible timetable, which generally worked well with the possible exception of curtailing discussion in the final session. Of particular interest was a group discussion/exercise where delegates worked as a team to determine the optimum tax structure for a theoretical international case study. 

The exercise demonstrated the strength of the technical resources available to member firms when advising clients in an international setting. 

Sunday closed with several tax delegates giving updates on tax developments from their home country’s perspective. Claus Lemaitre from new member RP Richter & Partner, with contributions from other members of a strong German contingent, gave an informative account not only of new German measures but of the political and economic factors driving them. 

The Audit Group heard lectures on International Accounting Standards (IAS’s), and International Standards on Auditing (ISA’s) from representatives of Jeffreys Henry, and Critchleys.

The IAS’s covered:

• Business Combinations
• Financial Instruments
• Interim Financial Reporting
• Presentation of Financial Statements
• Cash Flow Statements

The ISA’s covered:

• Special Considerations in audit of small entities
• Planning
• Audit Conclusions and Reporting
• Specialised Areas

A lighter note was brought in by Anthony Harris of Critchleys who spoke on Planning for Disaster which has important implications in troubled times.

This was followed up by a “Disaster” when with 45 minutes notice the speaker who was to give an update on Sarbanes Oxley informed us he was detained with a client “elsewhere in Europe”! His slides were available, so the “Disaster Specialist”, Anthony Harris spoke on this subject, well aided by Mark Tenzer, with less than one hours warning.

Tax and Audit groups combined for a session late on Saturday morning about Money Laundering lead by Mark Tenzer, with contributions elicited from experiences around Europe supplied by the delegates.

Throughout the conference we were well hosted by Yves Waller & Daniel Reding of Universalia who guided us around the City and laid on an excellent closing Dinner.

For more information, contact Anthony Harris of Critchleys, UK at (44) 01865 261100 or aharris@critchleys.co.uk.

JHI International Annual General Meeting 2005, November 9–12, 2005

134 JHI delegates and friends gathered in Buenos Aires, Argentina from November 9–12, 2005, for their 2005 Annual General Meeting. There were a few very productive sections for professional knowledge upgrade and experience sharing led by international accounting authorities. On November 10, Fermín del Valle, Deputy President of International Federation of Accountants started off the productive conference with a presentation on international trends of accounting regulations. Economist analyst Andrés Borenstein presented on the global economy and the accounting industry. Jorge Garcia Gonzalez of JGG Consulting addressed the audience on establishing the value of the brand. On November 11, Michael McDowell of McDowell, McCrory & McDowell LLC, and Andy Silverstein of Dorfman Abrams Music LLC, facilitated a lively Special Interest Group session on practice management, collecting the wishes and challenges from members of different regions for that SIG group. Dan Harris of en-terpret.co then brought the audience up to date on information technology. Dan Ray of Hemming Morse Inc., and Maxim Alekseyev of ALRUD-Audit facilitated group discussions on forensic accounting and litigation support. On November 12, international tax specialist, Laurence Feibel of Marks Paneth & Shron LLP, delivered an in-depth information session on common international tax issues for middle market practices.

Two new JHI members were also introduced to the membership present at the AGM – RP Richter & Partner from Germany and Global Grup – Aktif Global from Turkey presented their firm and the services they offer.

Financials, budgets and nomination slates were approved at the meeting. Ron Nash and Marv Cohen were presented an award for their efforts in facilitating the merger between Jeffreys Henry International and ACPA. Host firms Ratto Villares y Asociados, and Razzetto, Lopez, Rodiguez Cordoba & Asoc. were also recognized for their efforts in making the conference happen so successfully in Buenos Aires.

JHI IT Conference, September 17–18 , 2005, Houston, TX, USA

In the highly productive Information Technology conference held at the Renaissance Houston Hotel Greenway Plaza in Houston, Texas, USA, attendees discussed several vendors that provide services to JHI member firms and their services can benefit JHI members.  Two companies would like to present a product showcase webinars to the JHI member firms.

The first company is Boomer Technology Circles. Lisa Dunnigan and Barry MacQuarrie who have attended Boomer Technology Circle meetings found them very helpful. Eric Hunt from Boomer Consulting would like the opportunity to introduce Boomer Consulting to JHI firms.

As mentioned during the conference, Barry MacQuarrie serves as the CIO of a company called XCM Solutions.  This company offers Workflow and Outsourcing services to CPA firms, and would welcome the opportunity to discuss workflow automation and how it fits in with a technology driven accounting office.

A webinar was scheduled with each company as follows. Any member interested in attending either webinar is encouraged to contact the presenter directly and indicate the JHI membership.  Questions about either of the two companies can be directed to Barry MacQuarrie at bmacquarrie@kafgroup.com.

XCM Solutions

Date: Tuesday, October 11, 2005 at 1:00 pm EST

Presenter:
Glen Keenan, CPA 
President 
XCM Solutions 
(781) 356-5152 
gkeenan@xcmsolutions.com
www.xcmsolutions.com

Boomer Consulting

Date: Tuesday, October 13, 2005 at 1:30 pm EST

Presenter:
Eric Hunt
Director of Client Relations
Boomer Consulting, Inc.
(888) 266-6375 x19
erich@boomer.com
www.boomer.com

JHI Asia Pacific Region AGM, July 13–17, 2005

The 15th Annual JHI Asia Pacific Region was held in Tokyo, Japan from July 13-July 17, 2005. The conference was well attended by 20 delegates from 8 countries. The host firm Yotsuya & Co organized a great conference that was enjoyed by all.

The main focus of the conference was a discussion group based around a survey that was sent to all members on “What do members want from JHI”. This was based on what was undertaken by the European Region and covered areas such as membership, marketing, finance & governance, training and conferences. It generated a lot of discussion and a lot of outcomes that we are now putting into practice. Everyone agreed that this was a very successful session.

We also had two guest speakers who gave very informative presentations on the current state of the Japanese economy and also the role of the Japanese Institute of Chartered Accountants, and IFAC – the International Federation of Accountants.

Mr Daiki Kasai and Mr Nobutaka Shimojo from the host firm gave a very entertaining presentation on doing business in Japan.

It was also election time at the conference, and Mr. Rajaram Ajgaonkar, Mumbai, India was elected Chairman, Mr. Mahendra Asher, Dubai, United Arab Emirates was elected Member at Large and Mr. Masamichi Yoshida, Nagoya, Japan remained as Treasurer.

As this was the first conference of the merged association, it was great to meet some new faces.

Yotsuya & Co. kindly provided some great entertainment with traditional Japanese music and dance.

Thank you to all the wives of Yotsuya and Co. for everything that was done for the spouses and children who attended the conference.

The next conference will held in Singapore in 2006. Please contact Deidre Williams at dwilliams@hwi.co.nz for further information.

JHI Region of Americas AGM, Mexico June 22–25, 2005

The Region of Americas conference took place at the Presidente InterContinental Hotel in Mexico City from June 22-25, 2005. Our local hosts Roberto and Jorge Resa of the firm of Resa y Asociados SC ensured a seamless event from start to finish, including a strong educational program, and a fantastic tour of the local area, culminating in a magnificent open-air evening at Hacienda Los Mananitas in Cuernavaca. Our thanks to Roberto and his wife Patricia for their tremendous welcome, creativity and hard work.

56 delegates and 32 spouses represented 38 member firms from throughout the region. We were delighted to welcome a strong contingent from among Latin American members, who attended a sub-regional session on CPA systems and client services in Spanish while Canadian delegates met to review opportunities specific to their country, and US delegates met to learn about captive insurance. Speakers included Mike Mead of crusader Captive Services and Stuart Olson of Camico. We also heard from local economist Ernesto Cervera, who gave an interesting analysis of the Mexican economy and worldwide interactions.

Six Special Interest Groups met in Mexico City – Litigation, Practice Management, Information Technology Financial Services, Sarbanes Oxley and Strategic Planning. Each of these groups is planning to share information throughout the year.

Finally, Art Bowman of Bowman Communications led a general session on Benchmarking. A number of members had submitted statistics to Art prior to the conference, in response to a circulated survey. He reviewed the trends indicated by these responses, comparing them to the top performing accountancy firms in the United States, and to trends worldwide. This proved to be a most useful session, and as a result Art Bowman will continue to collect and assess data for JHI members.

For more information on the Region of Americas Annual General Meeting, contact the Ruth Abrahamson, International Executive Director, International Office at internationaled@jhi.com.

JHI European Region AGM, Barcelona — 12–15 May 2005

The first regional meeting following the merger between ACPA and Jeffreys Henry International was hosted by Emili Batlle and colleagues from local firm Granados Faura Martinez I Associats SL, assisted by German Parella. 60 delegates and guests from 39 firms attended the conference. It was a pleasure to welcome Rob Pritchard and Danielle Troncelliti from the US firm, Pritchard, Bieler, Gruver & Willison, PC.

The theme of the conference was: “What do members want from JHI?” from a regional aspect. The conference was preceded by a questionnaire and report to provide a focus for the members’ break-out sessions, which involved 6 groups covering the following topics:

Membership
Marketing
Training
Finance
Communications
Conferences

Andre-Philippe Vidal led a session on doing international business and encouraging clients in this area. Andre-Phillipe is keen on developing stronger links between our region and the Executive Committee will be pursuing this possibility.

This was followed by a session on French business in other countries led by the French Chamber of Commerce.

With a plan to hold next years meeting in Prague, Richard Jahoda of Larix Consulting sro gave a presentation about the city.

Overall, delegates and guests all agreed that the meeting had been a great success and were very optimistic about the future of the new Association.

For further information about this conference, contact Peter Quick, Regional Executive Director at PDQ1@aol.com

JHI Region of the Americas Annual Meeting and Conference – June 2004

The Region’s 2004 annual meeting started with a full day’s pre-conference workshop on litigation consulting practice, hosted in the offices of California member Hemming Morse. Participants benefited from a broad overview of the major litigation and consulting disciplines, from experienced speakers able to address computer forensics, intellectual property, construction, economic damages and accountant liability litigation, amongst others.

The conference itself was based in San Francisco’s Pan Pacific hotel, and attracted 43 delegates and 36 spouses, representing over 30 JHI member firms. The social highlight of the conference was a day exploring the Napa and Sonoma Valleys, where delegates enjoyed a professional guided tour of the area on deluxe mini-coaches and had the opportunity to undertake winery tours – and tastings! – as well as a gourmet lunch at Tra Vigne. Attendees also had the chance to explore the infamous Alcatraz prison in an evening tour.

The conference’s opening keynote address was given by Bryan Earl, Special Agent, FBI who enlightened delegates on his daily work dealing with money laundering, illegal overseas bank accounts and fraud. Mike McDowell of JHI member firm McCrory & McDowell LLC spoke on strategic management for accounting firms, outlining the four-step approach to strategic thinking and its integration within business. On the second day, delegates were able to choose from Special Interest Group sessions on IT, litigation, business valuation and financial services, led by JHI members Dan Harris (en-terpret.co), Day Ray (Hemming Morse), David Wolfe (Rea & Associates) and Brian Kohute (HJ Financial Group). Sessions continued with JHI member Barry Seidel, of Marks Paneth & Shron, who gave an overview of US expatriate taxation, and Mark Rodriguez, of MP&S Valuation Solutions, speaking on cost segregation.

Greg Patterson of Polak International, and Managing Director of globalCAN, spoke about the opportunities for collaboration with JHI member firms in the areas of support for multinational start-up companies. Sessions by John Dodsworth of CAMICO Mutual Insurance Company on professional liability and by member Bill Elliot (Joseph Decosimo & Company, LLP) on foreign asset protection trusts and captive life insurance companies closed the conference.

For further information about forthcoming Region of the Americas events, contact Ruth Abrahamson (rabrahamson@baseconsulting.ca) or Shannon Bott (sbott@baseconsulting.ca)

JHI European Region AGM and Conference, Moscow — May 2004

Moscow’s magnificent National Hotel, overlooking Red Square and the Kremlin, was the base for JHI Europe’s 2004 conference. Some 40 delegates and guests enjoyed excellent hospitality provided by JHI Russian member Alrud, as well as thought-provoking sessions on Russia, its economy and financial structure. A real highlight of the conference’s social programme was the rare opportunity to see the world class Bolshoi Ballet performing Swan Lake at the Bolshoi Theatre.

A roster of distinguished speakers included Larissa Gorbatova, the Accounting Project Co-ordinator for the Centre for Capital Markets Development Foundation. Larissa Gorbatova currently represents Russia in the Standards Advisory Council at the International Accounting Standards Board (IASB), and spoke about the incorporation of IAS into the Russian system. Bernard Sucher, Chairman of Alpha Capital, is a former New York stockbroker and director of both the US-based Russia Business Council and Moscow’s American Chamber of Commerce. His presentation gave an overview of Russia politics, economics and opportunities, painting a picture of considerable optimism. According to Sucher, during Vladimir Putin’s first term of office, the economy has grown by at least 30% and real income has increased by 10% per annum – whilst the number of people living in poverty has fallen by a third.

Further speakers included Mikhail Treyvish, Chairman and CEO of Commerical Bank NIKoil IBG Bank, and one of the pioneers of Russia’s factoring business. Mr Treyvish spoke on the importance of factoring in Russia to reduce the deficit of working capital, liquidity, credit and inflation risk. Host firm Alrud was represented by its Auditor and Senior Tax Consultant, Anna Zvereva, who gave a broad-ranging presentation on tax reform from 1991, including personal and company taxation, VAT and Double Taxation treaties. JHI Europe’s Vice-Chair, Mark Tenzer, partner at Jeffreys Henry LLP, and Anthony Harris, partner at JHI member firm Critchleys, spoke in a joint presentation about broader issues affecting European members including the Forum of Firms, response to the Audit Questionnaire, the Sarbanes-Oxley Act and the EU Directive on Corporate Governance.

Sessions closed with a fascinating presentation on Russia and its links with Europe, which highlighted the broad diversity of European countries represented at the conference. JHI Europe’s new Regional Chair, Patricia Kindt, spoke for all delegates in thanking Alrud for organising a superb conference, and acting as such good ambassadors for their country.

For further information about forthcoming European events, contact Peter Quick: PDQ1@aol.com