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Regional Report and Closing Remarks Mr. Foong Daw Ching, Regional Chairman, Asia Pacific

Regional Report and Closing Remarks Mr. Foong Daw Ching, Regional Chairman, Asia Pacific. Asia Pacific Conference Melbourne 2011. Baker Tilly International - Regional Objective. To be the premier professional services network of independent firms within the Asia Pacific region :

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Regional Report and Closing Remarks Mr. Foong Daw Ching, Regional Chairman, Asia Pacific

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  1. Regional Report and Closing RemarksMr. Foong Daw Ching, Regional Chairman, Asia Pacific Asia Pacific Conference Melbourne 2011

  2. Baker Tilly International - Regional Objective • To be the premier professional services network of independent firms within the Asia Pacific region: • Maintaining our “top 10” positioning in local markets • Ensuring our branding and brand awareness is continually promoted and invested in • Adopting consistent business processes and tools for seamless client service • Maximising all collaborative opportunities, whilst promoting a sharing and friendly environment • Maximising key international business opportunities

  3. Outline • Regional report summary • SWOT findings • Conference wrap-up and learnings • The year ahead

  4. APAC Regional Report Summary • APAC region predicted to be fastest growing to 2014 (source: Economist Intelligence Unit) • Adoption of the global strategy, supporting key areas of position, brand, consistency and collaboration • Network has coverage in all key business markets within region • aud-IT roll-out so far in Singapore and Hong Kong. A number of firms committed to implement aud-IT in 2011/12 • Continued development of English proficiency • Development of regional training programmes supported by all members

  5. APAC Regional Report Summary • Referrals need to increase. 6 months to Dec 10 vs. same time last year down approx 10% (2010 figure still to be finalised) • 4 regional committees currently meeting: audit, tax, corporate finance and risk advisory • Increased efforts and focus on business development initiatives and opportunities • Extranet to undergo changes to better suit the needs of member firms • Communication around the region to be strengthened and increased, via tools such as bi-monthly newsletter

  6. SWOT Findings – Internal • Strengths • “Top 10” global positioning • Strong HQ support • Willingness to share • Commitment from all firms to the network • Globally recognised and wide coverage • Weaknesses • Lack of consistent audit methodology • Low referrals around region • Lack of critical mass in some firms • Regional brand awareness

  7. SWOT Findings – External • Opportunities • International BD • Disenchanted ex-Big 4 clients and staff • Centralised training & adoption of aud-IT • New industry depth & specialisation • Consistent practices • Threats • Losing key firms • Failure to standardise • Do not invest and innovate our practices • We do not share • Firms who are locally focused

  8. Conference Wrap-up and Learnings – How do we Internationalise our Practice? • APAC economic outlook looks buoyant • Right time to be actively pursuing international work, collaboratively • If we invest in ourselves, we will invest in each other • Firms must continue to build critical mass • Importance of consistency and sharing • Challenging, yet concise roadmap to collaboration in US strategy

  9. Investing In Our Clients’ Needs - Volkswagen Example

  10. We Must Be Ready To Receive Referrals • Members must prepare themselves: • Staff who can speak English answering phones • Be prepared to assist in the smooth transition of subsidiary clients to other members • Business email to be used (not hotmail or gmail addresses) • Voice-message boxes not ideal and must be checked regularly • Member website to be kept up to date with correct information • Members must be responsive on calls for assistance regarding client matters. Must be a priority

  11. The Year Ahead – 2011/12 • Focus on international opportunities and increase regional referrals • Increased focus on building consistent work practices in all firms • Increase levels of intra-firm Asian secondments • Changes in the audit market with impacts of new standards (ie ISA600) • Maintain aud-IT implementation schedule

  12. The Year Ahead – 2011/12 • Managing Partners meeting in Taipei, 21-23 July, hosted by Baker Tilly Clock & Co. • World Conference, Hawaii, 3-9 November, hosted by Accuity LLP • 2012 Asia Pacific Conference to be hosted by Baker Tilly A&C, Vietnam

  13. The Year Ahead – 2011/12 Visitation schedule for regional chairman and regional executive:

  14. Final Thoughts… • Think bigger • You have friends • Contribute for the greater good • Challenge yourself to look beyond borders • Seek guidance or assistance when required • What do your clients need? • We are currently living in the right region for growth and business opportunities • The “ball is in our court”

  15. Thank you…Questions?

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