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Welcome to IAPA’s Quarterly newsletter

Q4, December 2016

SSeptembe20162016

2016

IAPA - A global association of independent accountancy and business advisory firms

200 member firms 68 countries >1bn USD turnover

DISPATCHWORK IAPA’s quarterly news publication containing news

and information for Members of IAPA

Creating the fabric of a global society

Global Support.

Local Knowledge.

IAPA Social

Words from the CEO

The Accountant & International Accounting Bulletin Conference and Awards

passion for the group.

In the past couple of months I have

attended the one day meeting in

Paris which discussed the topic of

‘Growing your network’, focusing

on accelerating the growth of your

contacts in both person and online.

I also took part in the

UK200Group’s annual event in

Southampton, where I was

delighted to present at their

International Forum and to be in

attendance throughout the entire

conference, getting to know many

of the UK members.

Back in October, we had our main

event. Rio de Janeiro was an idyllic

place to feature IAPA’s annual

global meeting, combined with the

regional meeting for Latin America.

The conference facilities and

venues for our activity were perfect

and I once again thank my team for

all their efforts and hard work

which resulted in such a successful

event. This thanks and

appreciation has also been echoed

by many delegates in Rio.

The Rio meeting marked a

significant turning point for IAPA;

members were voting on a new

Welcome to the final edition for

2016 of the IAPA newsletter,

Dispatchwork.

As we approach the festive

season, and the New Year, I look

back on what has been an

extremely busy and eventful

period.

Since our last edition of

Dispatchwork, I attended the

International Accounting Bulletin’s

annual awards, where IAPA was

nominated for “Association of the

Year”, alongside an additional

nomination for myself as

“Personality of the Year”. Although

we did not end up being eventual

winners, it is a credit to be

nominated and to have reached

the shortlist of just 4 finalists. All

IAPA members should be proud at

being recognised and

acknowledged for all recent

achievements and developments

of the association.

Our website, social media

presence and marketing efforts

have received a lot of praise and

there was a sense amongst the

membership in every meeting I

attended of a renewed energy and

TV”, now showcasing 8 IAPA

videos

strategy and dues structure for

the association, with great

positivity and direction for the

group. I am delighted that such

a huge majority voted in favour

of this and thank all members

for their support. It was at this

meeting that members also

discussed the potential

collaboration with Allinial

Global, an extremely viable

option for IAPA’s growth

strategy to enhance our

representation in the United

States of America. With so

many positive benefits to such

collaboration and such a

suitable geographical fit, a

potential merger with this group

had taken up a lot of my time

and that of our board members

and those serving on the

integration committee. I thank

them all for their input. The

end result, however, as often

becomes the case during many

merger discussions, was that

an agreement between our two

parties could not be reached

and discussions ceased.

Extra conditions to protect the

interests of all IAPA firms were

requested by members in Rio

and unfortunately these were

unacceptable to the other party.

It is, understandably,

disappointing when so much

Still time to register for Rio…

IAPA International Conference

Rio de Janeiro, Brazil

23-26 October 2016

Visit the IAPA Portal for full details

Congratulations to IAPA – IAB Award Finalists

an Award

IAPA – 2016 ‘Association of the year’ finalist

IAPA CEO, Stephen Hamlet – 2016 ‘Personality of

the year’ finalist

Runners-up in 2 categories:

and who may wish to join an

international group, or who may

already be part of an International

group but may not be entirely

happy with their current

arrangements.

As always, we welcome feedback

from all our members as to your

wishes, ambitions and goals for

the association. We will in fact be

conducting a Members’ survey and

this will be sent to you in

December this year, asking for

completion and return to us by

January 2017. I please ask you to

spend time to complete this as

IAPA is your association, and it is

important that a membership

association hears the viewpoints of

all its members.

I look forward to 2017, when IAPA

will be holding our first ever joint

regional meeting between the

regions of EMEA and Asia Pacific,

in the fabulous destination of

Dubai. We are expecting a

fantastic turnout for this event. We

are already very close to finalising

the programme and have some

exciting tastes of Middle Eastern

culture in store, including a trip to

the desert. It will be a marvellous

opportunity for our Asia Pacific and

EMEA members to meet and we

also of course welcome members

from all regions around the world.

For those of you who celebrate the

festive season, I wish you all the

very best and I am excited to be

leading IAPA forward into the New

Year of 2017.

Stephen Hamlet, IAPA CEO

CEO words

continued…

Who’s Who @ IAPA

International Board

Following the 2016 AGM, IAPA is delighted to welcome Ramon Gonzalez (Latin American Representative) to the Board and to congratulate John Campbell as the new IAPA Treasurer.

Jan Huygens

Chairman

John Campbell

Treasurer and Canadian Representative

Martin Clapson

Vice-Chairman

Tom Rex

USA Regional Chair

Ramon

Gonzalez

Latin-American Regional Chair

Mohd Noor

Abu Baker

Asia-Pacific Regional Chair

effort has been exerted towards

a cause that ends up being

unachievable. However, a

merger would only ever have

taken place if it was in the best

interests of the membership and

agreed by the membership. We

must now look forwards.

IAPA, with its 37 year history, its

passion, energy, culture and

ethos, will continue to thrive

towards a bright future; and with

your support, I will continue to do

my very best to grow the

association and push IAPA

forward, as a member-driven

organisation.

With additional revenue raised

from our increased dues’

structure, we will look to provide

more services to members, add

more resource to our recruitment

efforts, and continue to work

hard at global marketing and PR.

The extra services we are

looking at include additional one

day meetings and sub-regional

meetings, the creation of

practice groups for specialist

industry sectors and practice

niches, a tax bulletin and other

such technical alerts.

In regards to recruitment, we will

be reviewing the areas as listed

in the Strategy document, which

especially include the United

States of America, and where we

have gaps in Central/Eastern

Europe, Africa and the Middle

East. I ask you, as our existing

members, to please give thought

to any contacts you have around

the world who work for practices

Alphons van de

Ven

EMEA Regional Chair

IAPA connecting

globally:

IAPA TV Stats:

IAPA Corporate video:

424 views

IAPA Marketing video:

98 views

Interview with IAPA

CEO – Challenges for

accounting firms:

80 views

‘Growing your network’:

115 views

IAPA Newsletter:

Quarterly updates to our

global members

IAPA Webinars:

Coming soon for 2017

250 tweets

500+ followers

tweets Paris was the venue for IAPA-EMEA’s

10th Fly-In/Fly-Out Seminar ‘Growing

Your Network’ which focused on

accelerating the growth of your network

both in person and online. Hosted by

the Creatis Groupe this popular event

was attended by 23 delegates

representing 14 firms and countries

across Europe.

As is customary, the day began with

registration and coffee and an

opportunity to meet fellow delegates.

This was followed by a warm welcome to

Paris, and the event, from Patrick Riou -

Creatis Groupe. Alphons van de Ven,

EMEA Chairman, introduced his fellow

board members and Stephen Hamlet,

IAPA CEO then shared a brief

presentation on IAPA, including recent

developments, current status and plans

for the future.

IAPA CEO then shared a brief

presentation on IAPA, including

recent developments, current status

and plans for the future.

Martin Bissett, founder of The

Upward Spiral Partnership Ltd, a

consulting firm specialising in

professional selling skills and

leadership development, then began

the introductory session by looking at

the metrics for deciding when and

where you should invest your time

when building your network in

person. He shared many useful tools

and practices with the delegates to

enable them to be perceived as a

person of interest…continued page 5

IAPA EMEA and Asia Pacific joint conference

17-19 March 2017 DUBAI

16 March 2017 Golf Networking day

Registration is now

open. Visit the IAPA portal for full detail

The Parisian fly-in / fly-out

event, 30 September 2016

IAPA New Members:

IAPA is delighted to welcome the following new members over the last 3 months:

After a wonderful lunch the seminar

moved on to focus on growing your

network online. With an emphasis

on interaction and participation this

session included a practical group

activity enabling all participants an

opportunity to put what they had

learnt throughout the day into

practice. The seminar closed with a

look at practical guidelines and next

steps.

After the informative and thought

provoking day the delegates then

enjoyed a short walking tour in the

centre of Paris taking in the Place de

la Concorde, Jardin des Tuileries and

Le Louvre, to name but a few of the

sights!

Having worked up an appetite the

delegates then dined at the

contemporary Parisian restaurant

LE MACEO – set in a wonderful

location near the Palais Royale,

offering quality and seasonal

products of France.

The next EMEA fly-in/fly-out

meeting will be in Spring 2017,

Brussels with a focus on

Audit….detail to come shortly.

Parisian fly-in / fly-out

event continued…

Curacao

This new firm in the Dutch Caribbean is a sister firm to ESH Financial Engineering, The Netherlands. Contact Partner: Mr Alphons Van de Ven

Email:

avdv@esj.nl T: +599 9238 5600 W: www.curacao@esj.nl

ESJ Financial Engineering

MENA Audit & Advisory

Tunis, Tunisia

With the head office in Tunis and a branch in Hammam Sousse, the firm has a significant presence across manufacturing, services, commercial and financial entities. Contact Partner: Mr Seifallah Zaag

Email:

zseifallah@m2tunisie.com T: +216 700 226 24 W: www.m2a.com (currently under construction)

Vulpoi & Toader

Management SRL

Bucharest, Romania

One of the largest companies in Romania offering a full range of services with a multidisciplinary team of some 70 professionals with a portfolio of over 300 clients. Contact Partner: Mr Marcel Vulpoi

Email:

Marcel.vulpoi@vtm.ro T: +40 0728 90 90 410 W: www.vtm.ro

Rio de Janeiro, 23-26 October

IAPA 2016 International Conference review

The vibrant city of Rio de Janeiro was

the setting for this year’s 2016

International Conference, the very first

International Conference to be held in

the Latin American region. This event

was held in conjunction with the Latin

American regional meeting at the Sofitel

Hotel, which boasted a breath-taking

location right in the heart of the famous

Copacabana beach, overlooking Sugar

Loaf Mountain.

We were delighted to welcome so many

guests from member firms from all over

the world, and it was a wonderful

opportunity for global members from all

four regions to meet the Latin American

firms and learn about the local economy.

This year the conference focus was

primarily about the future of IAPA and

leadership, emphasising both how

members can cultivate their own

practices with the right leadership skills,

and how members want IAPA as an

association to develop. The latter being

particularly relevant as IAPA’s business

strategy had been under review over

recent months. With an afternoon of

strategy discussions devoted to this

topic, it was a crucial and valuable time

for members to voice their opinions.

What better way to start the

International Conference than a visit

to the top of Rio’s best-known

landmark, Sugar Loaf Mountain.

Stunning views of the mountainous

coast and Rio’s archipelago gave

everyone plenty of photo

opportunities! After an early

evening Caipirinha up the mountain,

the group returned to the hotel for

the welcome dinner to continue

valuable networking with fellow

members. With bars open in the

surrounding areas playing live Bossa

nova music, the introduction to Rio’s

culture was happily absorbed.

It was then down to business on

Monday morning as Stephen

Hamlet, IAPA CEO, opened the

conference with a powerful speech

on the future of IAPA, followed by an

overview of all IAPA has achieved

over the last 12 months including the

successful marketing initiatives,

designed to help members generate

new business.

Stephen was delighted to remind

members that such a productive

year, yielding a significant

increase in worldwide publicity,

led to IAPA being nominated as

‘Accountancy Association of the

Year, Finalist’ for the 2016

International Accounting Bulletin

Awards.

As is tradition, IAPA new member

firms were presented to the group;

however in Rio this was more

unusual as we welcomed a very

familiar face with a new firm,

Stefan Herzer, Acconsis,

Germany. Norm Schulman and

Ron Myers also presented

Schulman Lobel, USA,

highlighting their new office in Los

Angeles in addition to their New

York HQ. The ever popular speed

networking session gave

delegates the opportunity to

interact with fellow members and

share knowledge and experience.

Rio review continued…

Guest speaker, Mr Andre Freire, EXEC

Managing Partner, Brazil, then gave an

engaging presentation on leadership,

including competencies needed for the

2020 leader and how to be prepared for

what your clients want and the market

needs. Delegates were able to gain

new ideas and insights to support the

next generation of leaders who will

nurture their firm’s international

business strategies for the future. Using

his own personal experiences, Mr Freire

finished with a fascinating insight into

‘Hiring the first line of management for

the 2016 Olympics Committee.’

Jan Huygens, IAPA Global Chairman,

facilitated discussions in the afternoon

on the development of IAPA’s new

strategy. With much to discuss,

including the continuation of potential

collaboration talks, this meeting was the

culmination of many thoughts and

considerations that have dominated

IAPA events over the past 12

months. With such passionate

members, talks were stimulating

and deliberations went well into the

afternoon, continuing the following

day.

Networking is always a key feature

of IAPA conferences and the day

finished with an early evening

walking tour of historic ‘Old Rio’,

revealing the concealed, preserved

and authentic highlights of

downtown Rio. A private dinner in

the downtown Cais Restaurant

enabled delegates and companions

to sample local cuisine, enjoy the

fabulous atmosphere, and admire

flamboyant carnival costumes that

Brazil is so famous for.

On Tuesday the strategy

discussions re-commenced, which

concluded with a list of action points

to take forward. IAPA’s Deals &

Opportunities forum, chaired by Jan

van Wijngaarden, JM Corporate

Finance from the Netherlands, and

Simon Blake, Price Bailey UK,

proceeded on due diligence and

valuation, allowing delegates time

Simon Blake, Price Bailey UK,

proceeded on due diligence and

valuation, allowing delegates time

to review a case study and keep up

to date with the latest global

thinking. This combination of

technical expertise and sharing of

best practice is what makes the

IAPA forums such a success.

Above: new International Board

The formal AGM closed the

conference’s official business,

welcoming John Campbell as

IAPA’s new Treasurer and Ramon

Gonzalez as the new IAPA Latin

American Chair. The membership

also voted in agreement with

IAPA’s new strategy as presented

in a formal document to members,

and to continue collaboration

discussions for a potential merger,

subject to additional items to be

negotiated and as discussed during

the strategy session earlier that

day.

An authentic Brazilian steakhouse,

known as a Churrascaria, was the

venue for the last evening where

delegates and companions enjoyed

the delicious all-you-can-eat BBQ.

Guests left the venue replenished

to continue at Rio Scenarium, one

of Rio’s best loved nightspots with

dancing to jazz-infused samba,

choro and pagoda until the early

hours.

Request from IAPA’s finance manager:

The conference ended with a wonderful boat trip around

Guanabara Bay where the remarkable scenery could be

enjoyed from the water, including the sheer scale of the

iconic statue of Christ the Redeemer overlooking the city

below. The IAPA 2016 International conference was

another great success, providing wonderful networking

opportunities to strengthen relations with colleagues all

around the world, as well as providing an important

platform for members to discuss the way forward for the

association, at a significant time for IAPA.

Rio review continued…

Watch the Rio video here

Referral Reporting 2016

It is that time of year again and we would be grateful

if you could start updating both the inward and

outward referrals that have passed through your firm

for the 2016 calendar year. The referral reporting

procedure has been streamlined in the IAPA Members

Portal and it is no longer possible to select a referral in

a previous year and amend it. All income should be

reported in GBP please.

Reminder emails will be sent out in order to allow

those firms without referrals to notify the Centre that

none were received.

We urge you to input your referrals via the IAPA

Members Portal. Only a contact partner, or

previously authorised member of staff will be able to

do this. A guideline will be sent to each firm with the

reminder email.

Please note the site has a new, more user friendly

format that has been adapted following your

feedback. If anyone has any difficulty with the portal

or need further guidance, please contact Kimberley at

the Centre.

World Survey 2016

We would like to ask all member firms to update their

details of turnover, staff numbers (partners, professional

staff and admin staff) and service breakdown by the end

of December please. This can be done via the IAPA

Members Portal – go to My Organisation and enter the

information for 2016 on each of three tabs therein. Only

a contact partner, or previously authorised member of

staff will be able to do this.

A reminder email will be sent out to all firms where any

of this information is not up to date during December.

Please update your firm’s information as soon as

possible as the data does take considerable time to

prepare for submission to the IAB. IAPA was placed 9th

in 2015, and it would be great if we could improve on

that this year.

With many thanks

Kimberley Muir

k.muir@iapa.net

As trusted business advisors we should be able to discuss the subject of “value-creation” on a high level with our clients. The following tips and tricks are selected for you and your clients interest to increase the (strategic) value of the company (source Brookz.nl).

Which buttons can a business owner run to substantially increase the value of a company? Centralizing value-creation is the key word. Scalable products If a product or service can’t be scaled, grow will almost become impossible. Make sure a product or service is highly valued and can be delivered in time. Subscriptions Business models based on subscriptions experience an enormous growth over the last years. Subscription economy has proven itself by many advantages; stabile and returning income.

Make yourself redundant In the lifecycle of every company, delegation will become more important than being in control of everything. Motivation of managers Making a business owner redundant (point 3) can only happen if a solid management is ready to take over. Investors need the security the company will not implode after the founder leaves. Exit strategy Lifecycles of companies become shorter and shorter. Merger waves follow each other rapidly. A solid exit strategy should be leading in the owner’s strategy and needs to be in place undersigned by the time the right wave passes his path. If you or your client consider a

(strategic) takeover or establishment

in the Netherlands or you would

like to discuss Corporate Finance

issues, please feel free to contact

us! For further information

regarding our core business we

refer to our website

www.jmcorporatefinance.nl/uk.

Jan van Wijngaarden, Partner

jvw@jmpartners.nl

Bart Koreman, Senior Advisor

bk@jmpartners.nl

The partners and staff of McInerney Saunders are delighted to announce that Owen Sheehy has been appointed as our new Managing Partner. Owen takes over from founding partner Gerry McInerney who has been at the helm since 1980. Gerry will remain with the firm as a partner and trusted business advisor to clients. Gerry said 'I am delighted to be handing over the role to Owen Sheehy. This is a new chapter for me within the firm and I look forward to providing business advisory services to clients and of course, support Owen in whatever way I can". Owen joined the firm in 1991 and As Managing Partner, Owen and his fellow partners Susan McKittrick, Neal Morrison, Donagh

became partner in 2002. Owen is a fellow of the Association of Chartered Certified Accountants. As Managing Partner, Owen and his fellow partners Susan McKittrick, Neal Morrison, Donagh Waters, John Fitzgerald and of course Gerry McInerney will continue to deliver excellence for clients across all sectors. Speaking at the announcement Owen said "It is a huge privilege to succeed Gerry McInerney as Managing Partner at such an exciting time for the firm with our client base growing, both nationally and internationally. The confidence of our clients to continually improve their businesses has allowed us to significantly strengthen our offering

on business and tax advisory services to support their development plans. I would like to use this occasion to thank clients for all their support to date and look forward to working with them in the future. " This marks another milestone in the history of McInerney Saunders and we are delighted to share the news with you. Below:Owen Sheehy (left) & Gerry McInerney

News from IAPA member firms:

JM Corporate Finance, The Netherlands (IAPA associate member)

Owen Sheehy appointed Managing Partner of McInerney Saunders

News from Israel

We bit the Big 4- The Stark & Stark office has defeated

the Big 4, and won the quality assurance review for

Petroleum & Energy Infrastructures Ltd- A big

governmental company. A big accomplishment!

How to improve yourself- In a leading economy

newspaper in Israel, an article about of management

mistakes, accountant Iris Stark, admitted that because of

tight schedule, she did not give enough time to get to

know the employees on a personal level, only on a

business level. Her plan to the following financial year, is

to get to know the person behind the employee, since

her believe is that getting to know the person improves

productivity. (photo top right)

Lecturing about tax legislations- Accountant Iris Stark,

along with the head of the tax authority, appeared and

lectured at a conference of the Institute of Certified Public

Accountants in Israel on the subject- Tax planning in

regards to real estate assets. (photo below left)

Mixing friendship with business- In a special

newsletter production on friendship and business, the two

partners of Stark & Stark - Einat Duanis and Iris Stark -

appeared with the massage- "There is no problem that

cannot be solved". (photo top right)

The day after Trump- Accountant Iris Stark appeared on

a financial panel in a popular television program in the

public channel about: Financial reality in the day after

Trump winning presidency.

An update from Ragh & Asociados

Ragh & Asociados, SRL is a business advisory firm located in

Santo Domingo, Dominican Republic, which offers services of

audit, tax and consultancy. As IAPA’s member, we have felt very

happy with the international support received, since it helps us to

grow each year. Such a growth is in connection with our work

focus, niche market and quality services. For all activities, we

take advantage the technologic tools CaseWare and IDEA to get

better consistently in our operating process and satisfy our

clients’ needs.

We keep continuous training to our staff, winning some new

customers every year. We used to ask a feedback to the clients in

respect our services provided to them and the practice with an

operating annual budget monitored during the year. This let us

manage the firm’s resources efficiently.

As we are aware about IAPA has meant for us, during the second

half of this, we have strengthened our team integrating a Partner

of Consulting, relaunching the website www.ragh.com.do.

Partners from left to right:

Carmen Dotel, Ramón González

and Doris Bourdierd

Find out more about IAPA

conferences / events

Watch IAPA TV

Visit www.iapa.net

Award Winning Year for Prosperity

Advisers Group

The team at Prosperity have had a great year with continued

outstanding industry recognition. With a demonstrated drive

to grow and innovate and a hunger to embrace change

Accounting Awards are the only industry awards designed to showcase excellence right across the Australian

accounting profession.

With a broad range of categories that examine excellence across the breadth of the profession, the Australian

Accounting Awards provides a platform for all industry leaders to be recognised. In addition to Alex’s win, Prosperity

was also named a finalist in the ‘Diversified Firm of the Year’ category on the night.

We were also delighted to have won the Xero Accounting Partner 2016 Award for New South Wales/Australian Capital

Territory and named a Finalist in the National Accounting Partner of the Year category. This award recognises

outstanding engagement and success in providing leading edge technology solutions to our clients. With us embracing

cloud accounting solutions, our clients have benefited from real time information and business efficiencies and

increased their focus on advisory services with us.

The success continued with Prosperity being selected as one of three National finalists for the 2016 Hillross Advisory

Firm of the Year Award. Gary Dean is also a finalist for the Financial Adviser of the Year. This is a significant

achievement for the firm and Gary as the award recognises overall professionalism, operational excellence, superior

client service, advice delivery and implementation. Winners will be announced in January 2017.

Price Bailey Scoops Leading

Adviser Practice...again

Chartered accountant and business

adviser Price Bailey has been awarded

the title Leading Advisor Practice in the

prestigious Schroders UK Platform

Awards. It the second time in three

years that the firm has won the title.

The investment industry awards are

judged on evidence that a first-rate

customer offering is supported by the

investment platform and state of the art

technology applied to processes such

as research, model portfolios,

benchmarking, reviewing, re-balancing

and reporting.

The judges score each entry on total

customer cost, asset management,

platform and adviser. They also

examine evidence that the business is

successful both in terms of overall

turnover and margin.

Presenting the awards the judges, who

are chosen largely from the leading

independent consultancies

Independent consultancies in the

UK, commented: “Price Bailey runs

a sophisticated discretionary

proposition plus a tax planning

service at really low cost. If you

have a great proposition and great

service, you will have a great

business. The winner certainly has

all of that.”

James King, Partner and Head of

Private Client at Price Bailey

commented: “To win this award

once is great, but to win it twice is

three years is fantastic news and is

a reflection of the team’s hard work

and the excellent investment

management service we deliver to

our clients.”

Price Bailey Makes Best

Employer Top Ten...again

Chartered accountant and business

adviser Price Bailey has been

named among the top ten best

employers by the prestigious

industry publication Accountancy

Age. It is the third time in three

years that the firm has made the top

ten.

The top ten firms were chosen from

employer and employee surveys,

with

with the firms being judged on their

working environment, training,

remuneration and employee benefits

packages.

Price Bailey made history last year

when it became the first professional

services company to offer all of its

300 employees a stake in the firm

through its All Employee Share

Scheme. The scheme has so far paid

three dividends with the share value

going up year on year.

through our Firm of the Future strategy, Prosperity Advisers Group continue to set

ourselves apart from our competitors.

Prosperity’s Corporate Assurance Manager, Alex Hardy won the prestigious ‘Rising

Star of The Year’ award at the 2016 Australian Accounting Awards. The Australian

Please see link from Simon Blake of

Price Bailey on their service offering

in relation to increasing cross border

M&A activity within IAPA. This paper

was presented at the end of the

Deals and Opportunities forum in

Rio. Click here

In Brief

With the promulgation of the Law No. 6736 in the

Official Gazette of Turkey on August 19, 2016 expected

Turkish tax amnesty/Voluntary Disclosure Program has

entered into force.

Turkish authorities have accepted the Tax Amnesty Law

No: 6736 on 3 August 2016. New law offers taxpayers a

broad amnesty for most types of unpaid taxes and for

unpaid social security insurance premiums relating to

the period up to June 30, 2016.

The Law also addresses restructuring of certain public

receivables, repatriation to Turkey of assets held

abroad by individual and corporate Turkish taxpayers

without risk of any inspection or tax penalty, adjustment

of unrecorded assets and adjustment of assets that are

recorded but which do not exist or are not available.

In accordance with the accepted law, the following will

fall within the scope of the amnesty;

Taxes relating to periods preceding 30 June 2016 (inclusive), band with respect to declaration-based taxes, taxes relating to declarations to be filed before that date, and related tax fines, late fees and interest accrued on amounts in arrears;

In relation with the year 2016, taxes assessed prior to 30 June 2016 (inclusive) and related tax fines, late fees and interest accrued on amounts in arrears;

In accordance with the accepted law, the following will

fall within the scope of the amnesty;

Nicole Zompa, CPA joined the firm as Audit Partner in the firm’s commercial practice.

Partner Joy Child, CPA, ABV, PFS has been awarded the Accredited in Business Valuation (ABV) Credential by the AICPA.

Jonathan Bloom, CFP® has joined AAFCPAs Wealth Management as a Wealth Advisor.

Usha Gurumurthy, CPA, MBA, EA and Jennifer Brezniak, CPA, MBA have joined the firm as Tax Supervisors.

AAFCPAs participates in #GivingTuesday, November 29th, 2016, a global day dedicated to giving! Read more.>>

AAFCPAs Wealth Management likens the recent US presidential election surprise and subsequent market response to be parallel to Brexit. Read more.>>

AAFCPAs weighs in on FASB ASU 2016-14, and the Biggest Improvements of Financial Reporting Guidance in Two Decades for Not-for-Profit Entities. Read more.>>

AAFCPAs, Westborough/Boston/Wellesley, MA, USA announces:

that:

TAX AMNESTY LAW IN TURKEY

Tax fines not relating to underlying taxes which arise from determinations made prior to 30 June 2016 (inclusive);

Customs taxes, administrative fines, accrued interest, late fees and interest accrued on amounts in arrears having arisen prior to 30 June 2016 (inclusive);

Insurance premiums and related fees and interest accrued on amounts in arrears subject to collection under the terms of Law number 6183 by collection offices under the Social Security Administration;

Stamp taxes, special transaction taxes, education fund contributions and interest accrued on related amounts in arrears arising in or before June 2016 and subject to collection under the terms of relevant laws.

Conclusion

As a consequence, newly announced law is very

comprehensive and provides big advantages for the

Companies in terms of amnesties. Companies should

assess their specific tax-wise issues case by case with

their service providers and be proactive about the actions

to be taken. In order to benefit from the provisions of the

law, taxpayers shall complete the application process to

the respective authority until the end of October 2016.

To read the full detail regarding this, please visit the IAPA

website>news>member activity or click here

New Managing Partner at Roffe

Swayne accountants

On 1st October 2016 Jeremy Gardner

became Managing Partner at Roffe Swayne Chartered Accountants, succeeding Sharon Ward who is stepping down as Managing Partner after 10 years in the role. Jeremy Gardner has been at Roffe Swayne for 12 years, 10 years of which as a Partner heading up the Outsourced Accounting Services team. Driven by the changing needs of clients, Roffe Swayne provides strategic financial advisory services to clients, coupled with outsourced financial management, forensic accounting, transaction and family office services.

Jeremy Gardner says “The accounting world will undergo a lot of change within the next five years. It’s a really interesting time to be leading our firm, we must remain flexible and innovative to ensure we provide clients exactly what they need. I have a great leadership team working with me and I am most looking forward to shaping Roffe Swayne for the next five years and beyond; ensuring we remain the leading business advisory firm in our marketplace”. Jeremy added: “We are also

fortunate that Sharon will remain in

our core leadership team, so thankfully, she will be just down the corridor should I need a sounding board. The majority of our clients are entrepreneurs at heart, whether business clients or private clients, and this is very much our core market, which underpins our vision to be seen as providing “Entrepreneurial Excellence” . Roffe Swayne has ambitious plans for the next 5 years including expansion of their team based in their Godalming offices to make Roffe Swayne one of the largest independent employers in the area.

Wishing all our members a

happy festive season

and a

prosperous 2017

IAPA Diary for 2016 / 2017

DECEMBER

2-3 December IAPA Deutschland Meeting Neuss, Germany

10 December Asia-Pacific Regional Meeting Jogjakarta, Java

FEBRUARY

10 February (tbc) IAPA Leadership Forum Amsterdam (tbc)

MARCH

17-19 March EMEA and Asia Pacific Regional Conferences Dubai

APRIL

Date tbc IAPA Fly-in/Fly-out one day Seminar, Audit focus Brussels

JUNE

Date tbc IAPA US Regional Conference Miami

SEPTEMBER

22-25 September BHD Conference Canada

Date tbc IAPA Latin American Conference Mexico

Date tbc IAPA Fly-in/Fly-out one day Seminar Europe

OCTOBER

22-25 October (tbc) IAPA International Conference 2017 Venue tbc

NOVEMBER

15-17 November UK200Group Annual Conference Newcastle