NORTH&AMERICA& MGI North American report Ed Fahey
NORTH&AMERICA& • Network and Alliance Implementation • International Tax Reform • Strengthening relationships with Mackrell • Development of website • Coordinating Committee membership
Where will our strategy take us? Peter Winter
The new MGI Clive Bennett
How we got here
The 2012 Strategy MGI adds value to members’ businesses Ensure consistent member quality Strengthen the global brand …and avoid being a network
MGI Vision from 2012 “To be where the world’s best audit, tax, accounting and consulting entrepreneurs do business.”
May 2013 Newport Beach May 2013 Montevideo June 2013 Brussels October 2013 The debate Sydney May 2014 Miami June 2014 Berlin
The results of the debate • We are (mostly) a network, like it or not. • Business information forms and member feedback don’t improve quality. • We need proper quality review, which only a network can do. • Vicarious liability risk is not greater in a network. • Network firms not obliged to use prefix. • Not all members want to be in network – Alliance membership is important too .
The analysis
January 2014 August 2014 White paper -proposal for IC’s implementation plan a hybrid structure
August 2014 IC’s implementation plan October 2014 Chicago AGM Agreed by 100 votes to 19
How is organized?
Network governance International Committee Decisions Members’ views Management CEO Technical Committee NLC Technical supervision and opinions SWAT UK Technical support, process and administration
Network Liaison Committee Africa Juané Schreuder Asia Deepak Goil Australasia David Fong Europe Michael Grüne Latin America Luis Uncal MENA Mohamed Boumesmar North America Sharon Gregor UK & Ireland Roger Isaacs
Technical Committee Michael Grüne Luis Uncal Roger Isaacs
What does the TC do? 1. Advises the International Committee – Network regulations – Procedures and processes – The operation of the network – Relevant technical issues – Disciplinary matters regarding member firms – Quality of member firms
What is SWAT UK? • One of the UK’s largest suppliers of accountancy/audit training and compliance reviews. • Will manage: – Self assessment questionnaires – Audit independence system – On site reviews – First analysis of reviews
Branding 1. The Network
Branding 2. The Alliance
Implementing the new brands On the website now Coming soon
Network or Alliance? How to make your decision
Implementing your decision Does&our& Do&we&use& No firm&want& No the&MGI& to&join&the& prefix?& network?& Yes Yes Complete&signDup& Change'firm'name' process& Enhance&use&of&MGI& Replace&all&references& brand&in&markeGng& to&MGI&with&& Prepare'for'quality' review' (2&years)&
2012 Strategy “MGI must add value to members’ businesses”
Ways of adding value • Receiving inward referrals • Supporting your clients around the world • Serving the new international “niche” • Same quality abroad as you give at home • International prestige • Weight of powerful international brand • Exchange of knowledge and expertise • Access to higher value international clients • Competing better against big firms • Cross border projects
Strengthening the brand Sharing expertise Cross border business development
The values we need and to communicate to our market
Regional and international scope Thought leadership Shared expertise Prestige Added Safe pair of hands value Global quality standards
Aligning worldwide and local brands
Knowledge exchange International tax Transfer pricing
Cross border business development
Thank you
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