Even when you act global, you can think local
If you’re an international business, you might imagine you need to employ a large, global accountancy practice. There are, however, other options. One of the Big Four accountancy firms may seem like an obvious port of call if you’re running…
Blog20th Nov 2014
If you’re an international business, you might imagine you need to employ a large, global accountancy practice. There are, however, other options.
One of the Big Four accountancy firms may seem like an obvious port of call if you’re running a sizeable business internationally. Surely, the argument goes, you’ll need firm which has a presence across the different jurisdictions in which you operate?
Actually, there’s an alternative solution which can prove to be just as effective and, in many cases, can suit you better. In a nutshell, you find a firm which is part of an association, such as HCWA. You get a more affordable partner who can provide a more personal service. They’ll have good local knowledge and an understanding of the specific regulatory regime in the country they’re based, but they’ll also have global reach through the sister firms to which they’re affiliated.
As an illustration, through our connections with HCWA and their international liaison officer, we have been able to recommend a partner in New York to deal with the audit of a client’s trading subsidiary in the USA. We were confident of their ability to deliver effectively and were pleased to be able to provide our client with an elegant solution: two independent firms with a high service ethos, both of whom could work happily alongside each other.
So when you’re choosing a professional adviser, remember that they don’t necessarily need offices around the world to be effective at managing your accounts. You may do better to find a local firm you trust and see if they’re part of an international association.