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UHY GLOBAL JANUARY 2018 COGS & WHEELS


SUPPORTING CLIENT REACH


Cogs and Wheels</span> section highlights what drives a successful international network. In this issue, we look at how UHY's global footprint, commitment to quality, and culture of working together combine to support clients with big ambitions. With a network incorporating over 325 business centres in over 95 countries, UHY recognises the importance of global reach. International development is a cornerstone of UHY’s strategic goals, and by continuing to expand its global offering and international resources, it is better positioned to support clients with their own ambitions for expansion.The network's global footprint has almost doubled over the past decade, and in doing so has strengthened its ability to offer an invaluable combination of local understanding and regional, national and international skillsets.CONNECTED THROUGH QUALITY UHY is a member of the IFAC (International Federation of Accountants) Forum of Firms (FoF), an association of international networks of accounting firms. The FoF's purpose is to promote consistent and high quality standards of cross-border financial reporting and audit, in practices worldwide. Membership requires the network's independent firms to adhere to these standards. For clients, it is a significant quality reassurance.The UHY network runs a number of regular quality review programmes to ensure member firm compliance, and to support any individual firm in meeting the required levels of internal and external performance. In 2017 a new UHY peer review process was introduced to strengthen the network's quality assurance toolkit further, which is ultimately more good news for clients. Sharing this commitment to rigorous quality standards and international service levels, means that clients know what to expect and can make confident decisions on provision across any jurisdiction where UHY operates. WORKING TOGETHER Regular events – including a global annual meeting and three regional meetings covering EMEA, Asia-Pacific and the Americas – serve as a focal point for the sharing of best practice, knowledge and expertise, but also provide opportunities for the relationship-building that ultimately gives the network its strength. Establishing durable relationships allows UHY member firms to share not only knowledge, but also business values, enabling the delivery of consistent, high quality service throughout the network, and providing the specialist sector, service or local knowledge that clients may need, in 'the UHY way' – a client-focused, partner-led and joined-up approach based on professional friendships, trust and a deep knowledge of the business. SAFETY FIRST UHY's ability to offer reach and reassurance to expanding clients has served Protective Industrial Products (PIP) well. The multinational US-based safety equipment provider has been a client of UHY's member firm in the US, UHY LLP, since 2001. PIP's sales have increased by 47% in the last five years, predominantly in the US. But its focus now is to grow a bigger infrastructure that will support global expansion – and working with a global accountancy network strong enough to help them manage this is key. As a result, Mike Zovitoski, partner at UHY LLP in Albany, New York, and his team, have not only worked with PIP to consolidate its ambitions and targets, but have also galvanised other UHY member firms across the network to make the company's immediate vision a reality. PIP is confident that the consistent high-quality support UHY has provided over 16 years, combined with its global reach, will help steer the company through their ambitious plans for fast growth in other countries. On top of the wonderful advice and support we get from UHY's member firm in the US, we now rely on the expertise of UHY representatives in Canada, Hong Kong, France, Italy and Spain," says Percy Cubillo, marketing director, PIP. "We trusted Michael when he said we could expect the same level of high-quality work and advice from every UHY member firm we worked with, and he has not let us down. Consistently, we get a superlative service from UHY and we have no desire to change this." For a full account of PIP's relationship with UHY, you can download a copy of the 2018 UHY Capability Statement, available at www.uhy.com/publications. THE RIGHT INGREDIENTS The ability to draw on the local knowledge and service specialisms of member firms across the UHY network has also helped European multinational Macromex. Based in Bucharest, Romania, and with subsidiaries in Cyprus, the Czech Republic, Malta and the Netherlands, the frozen foods supplier has received tax advice and services from UHY's Romanian member firm since 2002. Macromex's international operations have faced a range of tax, legal and regulatory issues during the 15 years in which they have worked with UHY. Leveraging the expertise available through UHY's international network, Camelia Dobre, general manager at UHY Audit CD S.r.l. in Romania, has helped Macromex meet its compliance obligations. With this support, Dragos Holban, Group CFO at Macromex, is confident that the business will be able to continue to respond to these challenges."Camelia's access to UHY's international network of experts has been really valuable for us," he says. "With her help, and the help of UHY member firms in the countries where we operate, we have achieved full tax and accounting compliance in complicated regulatory environments with cross-border impacts."

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