About Nexia International Agenda Nexia International what we
About Nexia International
Agenda • Nexia International • what we do and member firm benefits – services • Audit • Tax • People Development • Marketing and business development • Specialist Interest Groups (SIG) • Conferences and events
Global reach • 604 offices in more than 100 countries • over 2700 partners
Nexia leadership • the Board of Directors (Board) is responsible for the governance and strategy of the international organisation
Nexia leadership Board members • the Board members consist of: – Norbert Neu (NEXIA Deutschland Gmb. H) - Chair – Larry Chastang (Clifton. Larson. Allen) - Deputy Chair – Daniel Abelovich (Abelovich, Polano & Asociados S. R. L. ) – Markus Emmrich (Ebner Stolz Partnerschaft mb. B)
Nexia leadership Board members – Ian Stone (Nexia Court & Co) – Jeremy Boadle (Smith & Williamson) – Finance – Tom Marino (Cohn. Reznick LLP) – Nick Kelsey (Saffery Champness) – Bashier Adam (Nexia SAB&T) – Naoko Enomoto (Gyosei & Co. )
Nexia leadership Regional Chairs • the Board includes Regional Chair for the following regions: – Europe, Middle East & Africa (EMEA): Markus Emmrich (Ebner Stolz Partnerschaft mb. B) – Asia Pacific: Ian Stone (Nexia Court & Co) – North & Central America: Larry Chastang (Clifton. Larson. Allen)
Nexia leadership – South America: Daniel Abelovich (Abelovich, Polano & Asociados S. R. L. )/Roberto Montes (Montes y Asociados S. A. S) • Regional Chair champion the interests of the members firms in their specific regions.
Nexia mission statement Nexia International (Nexia) is a leading worldwide network of independent accounting and consulting firms, providing a comprehensive portfolio of audit, accountancy, tax and advisory services. Combining local expertise and global reach, Nexia member firms work together to help their clients achieve their business and financial goals. With a substantial presence both in the world’s major financial and economic centres and elsewhere, Nexia member firms are strategically positioned to serve the diverse international requirements of their clients, ranging from globally listed entities and international subsidiaries, to owner-managed businesses and high-net-worth individuals.
Nexia vision statement This recognition in both national and international markets is achieved through our shared commitment to a common set of values.
Nexia vision statement Our wider stakeholders Member firm clients Our members
Nexia vision statement Our members • fostering strong collaborative bonds between firms • sharing access to leading best practice and technical resources • creating an environment in which professionals can develop and flourish
Nexia vision statement Member firm clients • providing truly global reach to local specialist advice in a cost effective manner • ensuring consistency, quality and service excellence • delivering customised solutions through an attentive, proactive and partner-led approach
Nexia vision statement Our wider stakeholders • acting ethically and transparently • playing an active role in our local communities • managing our impact on the environment
Nexia values Values shared by member firms Personal approach High level of involvement in engagements Local expertise and global reach Custom made solutions Expertise, credibility and quality Delivering consistent quality services globally
Nexia values View the Nexia video at www. nexia. com
Nexia strategy Strategic objectives • encourage members to develop an international focus to their practice • ensure the full commitment of member firms to Nexia’s strategic objectives • ensure that Nexia maintains a strong presence in key strategic markets
Nexia strategy Strategic objectives • raise the level of confidence between members • encourage greater communication and interaction both between member firms and with Nexia • encourage referral business flows across the network and support collaboration • encourage greater knowledge sharing opportunities
Nexia team
Nexia team
Nexia team
Nexia facts Organisational and financial growth 2013 • • • 2013 fee income: US$ 2. 9 bn 604 offices 2, 739 partners and principals 23, 131 total staff 106 countries + 4% + 5% + 4% + 3%
Nexia facts Financial performance 2010 -2013 4% increase US dollars (billion) 3. 5 3 2. 5 2 1. 5 1 0. 5 0 2011 2012 2013 US$2. 1 US$2. 3 US$2. 8 US$2. 9
Nexia facts Regional composition: 2013 Asia Pacific, 8% revenue Europe, Middle East & Africa, 41% revenue North & Central America, 50% revenue South America, 1% revenue
Nexia facts World fee data 2014 Rank 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Name Fee Income Growth rate (%) ($m) Deloitte 32, 400. 00 Pw. C(1) 32, 088. 00 Ernst & Young 25, 892. 00 KPMG(1) 23, 420. 00 BDO (1)(2) 6, 453. 10 Grant Thornton International 4, 519. 00 RSM International (3) 3, 714. 10 Baker Tilly International 3, 404. 20 Crowe Horwath International (4) 3, 168. 20 Nexia International 2, 918. 00 Moore Stephens International 2, 682. 10 PKF International (5) 2, 523. 00 Kreston International 1, 944. 60 HLB International 1, 678. 60 Mazars 1, 377. 20 4 2 6 2 7 8 -7 3 3 3 17 -6 -1 7 6 Source: IAB World Survey 2014: Networks fee data. International Accounting Bulletin (IAB), January 2014. (1) Other includes advisory revenues (2) BDO revenue includes $1. 4 bn from alliance firms (3) RSM International revenue include $44. 9 m from alliance firms (4) Crowe Horwath International revenue includes $754 m from alliance firms (5) PKF International revenues include fee income of firms the network has lost prior to year-end due to members operating on a six-month cancellation notice.
Nexia facts Regional ranking: Europe Rank 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Name Revenue ($m) Staff Pw. C 12, 638. 00 KPMG* 11, 640. 00 Ernst & Young* (1) 10, 943. 00 Deloitte 10, 300. 00 BDO 2, 475. 00 Grant Thornton 1, 778. 00 Nexia International 1, 162. 40 Baker Tilly International 1, 131. 10 Mazars 1, 003. 50 Moore Stephens International 979. 90 HLB International 829. 30 Crowe Horwath International 772. 50 Kreston International 670. 50 RSM 579. 20 PKF International 550. 00 Source: IAB World Survey 2014: Regional Analysis. International Accounting Bulletin (IAB), January 2014. * The figures for KPMG and Ernst & Young includes Africa/Middle East. (1) EY regional spilt does not include US$1, 202 m fee income and 6, 856 staff from EY Japan. 67, 931 80, 594 84, 224 62, 452 19, 742 12, 936 8, 303 8, 195 7, 623 8, 140 6, 431 7, 034 6, 622 5, 059 5, 212
Nexia facts Regional ranking: Middle East & Africa Rank 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Name KPMG* Ernst & Young* (1) Pw. C Deloitte Grant Thornton International BDO PKF International Baker Tilly International Mazars RSM International Crowe Horwath International Moore Stephens International Kreston International Nexia International HLB International Revenue ($m) Staff 11, 640. 00 10, 943. 00 1, 074. 00 900. 00 135. 00 124. 40 95. 00 88. 80 87. 50 59. 40 52. 70 48. 80 46. 20 43. 60 34. 80 Source: IAB World Survey 2014: Regional Analysis. International Accounting Bulletin (IAB ), January 2014. * The figures for KPMG and Ernst & Young includes Europe. (1) EY regional spilt does not include US$1, 202 m fee income and 6, 856 staff from EY Japan. 80, 594 84, 224 11, 578 9, 374 2, 762 2, 498 2, 872 1, 569 2, 196 1, 404 1, 075 1, 314 1, 202 1, 051 977
Nexia facts Regional ranking: Latin America Rank 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Name Ernst & Young* (1) KPMG* Pw. C Deloitte BDO Grant Thornton International RSM Crowe Horwath International Moore Stephens International Baker Tilly International SMS Latinoamerica Russell Bedford International Kreston International PKF International Nexia International Revenue ($m) Staff 10, 750. 00 7, 880. 00 1, 481. 00 1, 300. 00 194. 90 169. 00 98. 70 96. 20 77. 30 75. 80 67. 80 56. 00 53. 80 51. 00 47. 50 Source: IAB World Survey 2014: Regional Analysis. International Accounting Bulletin (IAB), January 2014. * The figures for KPMG and Ernst & Young includes North America. (1) EY regional spilt does not include US$1, 202 m fee income and 6, 856 staff from EY Japan 58, 835 42, 544 17, 406 19, 226 3, 907 3, 784 2, 419 2, 618 2, 708 1, 754 1, 913 1, 537 1, 681 1, 402 1, 371
Nexia facts Regional ranking: North America Rank 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Name Deloitte Pw. C Ernst & Young* (1) KPMG* BDO RSM Grant Thornton International PKF International Crowe Horwath International Baker Tilly International Nexia International Moore Stephens International Kreston International HLB International UHY International Revenue ($m) Staff 15, 000. 00 11, 547. 00 10, 750. 00 7, 880. 00 2, 559. 60 2, 401. 90 1, 871. 00 1, 517. 00 1, 481. 00 1, 450. 10 1, 414. 00 1, 075. 40 795. 90 487. 20 206. 50 Source: IAB World Survey 2014: Regional Analysis. International Accounting Bulletin (IAB), January 2014. * The figures for KPMG and Ernst & Young includes Latin America. (1) EY regional spilt does not include US$1, 202 m fee income and 6, 856 staff from EY Japan 70, 704 41, 697 58, 835 42, 544 16, 308 13, 014 10, 722 8, 328 7, 838 7, 913 7, 797 5, 653 3, 876 3, 008 1, 086
Nexia facts Regional ranking: Asia Pacific Rank 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Name Revenue ($m) Staff Pw. C 11, 640. 00 Deloitte 10, 943. 00 KPMG 3, 900. 00 Ernst & Young 2, 934. 00 BDO 1, 099. 20 Crowe Horwath International 765. 80 Baker Tilly International 658. 40 RSM 574. 90 Grant Thornton International 567. 00 Moore Stephens International 500. 70 Kreston International 378. 20 PKF International 310. 00 HLB International 291. 90 Nexia International 250. 50 Reanda International 112. 90 Source: IAB World Survey 2014: Regional Analysis. International Accounting Bulletin (IAB), January 2014. (1) EY regional spilt does not include US$1, 202 m fee income and 6, 856 staff from EY Japan 45, 624 41, 125 32, 042 29, 893 13, 934 10, 849 7, 415 10, 000 8, 339 9, 266 6, 711 2, 987 4, 933 4, 609 1, 700
IAB Awards 2013 • proud winners of the ‘Rising Star Network’ award.
IAB Awards “With a determined re-entry into the top 10 networks listed by the IAB, the judging panel saw Nexia as a perfect fit for International Accounting Bulletin’s Rising Star Network of the year award. The judges also praised Nexia’s ability to service its members through innovative initiatives, designed to help firms comply with global standards, retain staff and encourage new business opportunities. ” Ana Györkös, IAB
What we do and member firms benefits
What we do and member firms benefits • • assisting member firms access to global expertise referral opportunities quality of service technical expertise training networking
Services What we do and member firms benefits • • • Audit Tax People Development Marketing and business development Committees and SIG
Services Audit • Audit Director: Mohammed Yaqoob (myaqoob@nexia. com) • responsible for: – Quality Control Reviews (QCR) – annual audit forums – representation on the IFAC Forum of Firms (Fo. Fs) (including membership of TAC) and the European Group of International Accounting Networks and Associations (EGIAN) – producing procedures and guidance
Services Audit – development of tools such as the: • IFRS Knowledge Management App • IFRS help desk • Nexia Independence Monitoring tool (NIMo) • IFRS Link quarterly publication – technical support to the Audit committee
Services Audit tools - IFRS Knowledge Management Application • provides an invaluable set of IFRS tools and learning/information resources direct to your desktop • access to: – IFRS and IASB updates – online videos – webinars – dynamic e-learning – online tools
Services Audit tools - IFRS help desk • launched to provide members with a “one stop shop” advice centre – expert support on IFRS accounting issues – tailored to members specific requirements from an international team of Nexia IFRS specialists
Services Audit tools - NIMo • the purpose of NIMo is to enable the network to comply with the independence requirements of the IFAC Code of Ethics • member firms are required to visit the NIMo webpage at least every 3 months, failure to do this, will result in firms receiving an automatic email reminder
Services Audit tools – IFRS Link • technical newsletter targeted at auditors/accountants • provides updates and information relating to new standards and IFRS
Services Audit committee • responsible for: – developing, enhancing and monitoring the standards of audit and related assurance services offered by members – developing specific tools to raise the auditing and technical standards of referred work around our network – providing guidance to members on emerging issues.
Services Tax • Tax Director: Mike Adams (mike. adams@nexia. com) • responsible for: – annual tax conference – Quality Control Reviews – online country-by-country database of legal entities and tax regimes – database of member industry and tax specialisation – the development of assessment procedures for prospective members – providing guidance to members on the organisation of their tax practices
Services Tax – tax training – tax support to member firms – development of tools such as the: • Tax article search • Tax contacts database • tax Share. Point site • tax academy • tax publications
Services Tax committee • responsible for: – drawing up and implementing the Nexia tax strategy – ensuring appropriate technical and service quality standards are maintained throughout the network
Services Tax SIG • • • Global Mobility Tax Services Indirect Taxes Real Estate Transfer Pricing Wealth Management
Services Tax tools - Tax article search • can be used to gain up to date information on tax developments taking place in various countries across the globe
Services Tax tools - Tax contact search • find tax contacts around the world • search function enables you to search by region and country
Services Tax tools - tax Share. Point site • collaboration site used by committee members to: – share ideas – store documents – encourage two way communication
Services Tax tools - tax academy • residential course in the International Tax Centre in Leiden, Netherlands • using Nexia and ITC specialists • courses on both basic principles and advanced topics in international tax • networking and building internal resource for members
Services Tax tools - publications • Tax Link – updates and information on tax related issues • International Tax Handbook – information on tax rules and regulations • SIG newsletters • technical guides
Services People Development team • People Development Team Chair: Mike Bishop (mike. bishop@nexia. com) • responsible for: – soft skills - training programmes including: • new manager programmes • senior manager programmes • new partner programmes – technical skills - IFRS (including the IFRS help desk, webinars and e-learning)
Services People Development team – performance development tools • Performance and Development Framework • Job assessment forms • Appraisal forms • Recruitment questions – secondments – scholarships – part of the People Development committee
Services People Development tools - Performance and Development Framework • sets out the skills and behaviours professionals need to demonstrate to ensure excellence • looks at attributes across a number of experience levels • focuses on the core skills and behaviours across eight key areas
Services People Development tools - global secondment programme • launched in December 2010 • provides comprehensive support in identifying and facilitating secondment opportunities
Services People Development committee • responsible for: – developing a training offering available to members around the globe, giving consideration to both technical and ‘soft skills’ elements – considering all methods of training delivery, including classroom based and ‘e-learning’ to ensure training solutions are focused and cost effective for members
Services Marketing and business development • Marketing and Business Development Manager: Dal Cheema (dcheema@nexia. com) • responsible for: – supporting the Marketing and Business Development (MBD) committee – promotion of the Nexia brand member firms through marketing and PR activities – assisting member firms in international opportunities – developing best practice guidance and templates
Services Marketing and business development – production of tools, including: • newsletters and publications • digital including the website and Nexia App • Cross. Border database • social media guidance • business development templates and guidance
Services Marketing and Business Development (MBD) committee • achieve two key objectives: – assist member firms in winning international business – increase Nexia’s visibility and profile • produce tools, guidance and initiatives to support the above objectives
Services Marketing and business development tools publications • Nexia Link - internal newsletter – updates from Nexia International and member firms from around the world • Global Insight - external newsletter – communicate trends/issues effecting all firms at a global level and taking place in individual countries
Services Marketing and business development tools publications • thought leadership - external publications – led by service line specialists or SIGs to demonstrate member firm expertise – covers topical issues/trends affecting member firms and their clients – based on a survey or commentary from member firms.
Services Marketing and business development tools publications
Services Marketing and business development tools – Cross. Border database • an online tool designed to encourage cross border referrals between member firms • help member firms within the network to identify potential clients
Services Marketing and business development tools - Nexia mobile App • multi-function directory App • enable member firms to search for other member firm contacts • available via i. Tunes/Android Marketplace
Services Marketing and business development tools Nexia website: www. nexia. com • • “Global Directory” publications corporate video press releases
Services Marketing and business development tools Members’ Area of the Nexia website: www. nexia. com • “Global Directory” • publications • access to tools and guidance from different service lines
Services Marketing and business development tools - social media • fact sheets • guidelines • presence on: – You. Tube – Twitter – Linked. In company page and group
Services Specialist Interest Groups (SIG) Committees and SIG exist to: • identify local and global expertise across the network • promote effective knowledge sharing and best practice • map standards across jurisdictions and benchmarking
Services SIG They can help assist member firms in a number of ways, including: • developing common methodologies • sharing best practice and developing toolkits • delivering specialist training for members • producing thought leadership • capitalising on networking opportunities
Services SIG Business Advisory Group - Shahab Haider Legal Services Group - Beatrice Onicajarka Valuations Group - Andreas Blum IT & Internal Audit Group - Ingo Koehne Insolvency, Restructuring and Turnarounds - Greg Palfrey • IFRS - Torsten Janssen • • •
Services SIG Tax specific groups: • Global Mobility Tax Services - Sten Günsel • Transfer Pricing - Rajesh Sharma • Indirect Taxes - John Voyez • Global Real Estate - Henning- Günther Wind • Private Wealth Group - Mike Beattie
Services Conferences • annual conference, regional and service line specific (tax) conferences • benefits: – help firms network – relationship building – provide training and workshops – share knowledge
What do Nexia member firms have to say about Nexia?
Quotes from members Zvezdan Bozinovic, Managing Partner at LB-Rev, Serbia • “We are medium sized local audit company, with good prospective in terms of growth having in mind keeping quality on high level. I believe that we have image of independent auditor with strong integrity, but also, client friendly within limits set in Code of Ethics and ISA. Joining Nexia International for further improvement of quality and increase of number and quality of clients. We are trying to be useful to the clients, continuously, no matter for what we are engaged. Our focus is on maintaining of high quality service, from which client could benefit. Besides that, our focus is to keep the clients informed and educated on changes in regulations, new approaches on solving various business issues. Nexia is my choice due to the fact that it is significant network with great growth perspective. Furthermore, it is very difficult for us, to sell services to our clients, delivered at this level, as local company. I strongly believe that we are (in quality and integrity manners) ready to join respectable network as Nexia is. There is small piece of market that is interested in high quality service, if it is delivered without brand name to support. Also, we believe that our horizons will spread through exchange of experience and joint engagements with the other members. ”
Quotes from members Christophe Malecot, General Director at Groupe Y, France • “Groupe Y joined NEXIA International in October 2013. With this affiliation, our firm really wants to offer high value services to clients having foreign development and investment projects. We chose NEXIA International not only because this network is worldwide ranked 10 but also because it is a dynamic organization with a regular growth over the recent years. The fact that NEXIA was the 2013 winner of IAB Awards Rising Star Network was consequently very important when we took our decision. Furthermore, the current geographical coverage of NEXIA International in more than 110 countries is very well adapted to our portfolio particularly in Europe and Asia. As a new member, Groupe Y is ready to invest and to contribute to the development of NEXIA International. ”
Quotes from members Mike Hodgson, President at Cayman National Trust Co. , Cayman Islands • “I was familiar with the benefits of membership in Nexia as my previous firm was a member. I felt the Nexia membership was good value for money as it allows us to have a global reach despite the fact we are a small niche firm. The people at Nexia were knowledgeable and interested in serving their clients and the secretariat was well run. I am looking forward to renewing acquaintances with many old friends from Nexia. ”
Quotes from members Theofanis Cochinamogulos, President at Cochinamogulos & Co. , The Bahamas • “I made a decision to be a part of Nexia because of Nexia’s global reach and I felt that over all the networks we approached they were the most responsive. Key factor: the reason we choose Nexia was because of their global reach and their responsiveness. The benefits we look forward to: we believe, by use of the international network, Nexia will bring opportunities for Cochinamogulos & Co. to access resources for larger projects which was previously out of our reach. ”
Services Any questions?
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