HLB Insight No. 1: October 2012 www.hlbi.com

Baicheng Tax Consulting Services

in China

HLB’s 2012 International Conference this October in Istanbul and our latest and upcoming conferences and events.See back page

What’s happening in the network

HLB Onix Auditoria e Consultoria Empresarial Ltda in Brazil

Makary Consulting in Egypt

Sheehan Quinn in Ireland

New members

HLBInsightNo. 1

Rob Tautges, CEO

HLB International newsletter October 2012

A word from the CEO

Welcome to the first issue of HLB International’s newsletter: HLB Insight. HLB Insight will be published every two months and bring you HLB’s latest news on the network, business development, events and conferences, involvement in the profession and sustainability initiatives.

You will also find in each issue an interview of a “special” HLB person as well as a focus on a specific key topic.

HLB Insight is for you but is also a good way to make your clients, prospects and various professional contacts learn more about us, about our successes and our initiatives.

Enjoy your reading!

Julie Adams appointed senior partner at Menzies, UK

HLB Candor Taiwan CPAs (Taiwan), 20 years

Menzies (UK), 100 years

HLB Toha Khan Zaman & Co (Bangladesh), 20 years

HLB Dr. Stückmann und Partner (Germany), 80 years

Moves Happy birthday to

HLB Insight No. 1: October 2012 www.hlbi.com

The programme was launched in July 2011: what steps have been taken so far?We’ve held roundtables at HLB conferences to discuss the topic – which included both women and men. We also conducted a survey among member firms to identify their needs and viewpoints on the issue, and hope to have dedicated sessions at future conferences as well as specific networking events and training.

What about you? Did you have to make any specific choices in your career because you are a woman?I went to a women-only college where I learned that nothing is impossible just because you’re a woman. Indeed a lot of women’s problems come from women themselves, such as not speaking up and asking for what they are entitled to, be it a promotion or salary raise. I started my career working in investment banking, but ultimately found the right firm, WS+B, whose management is willing to support the needs of talented women who want a family and a career.

Focus: Women in accounting

Kimberlee was the first female partner at Withum Smith+Brown (US). She is active in a number of programmes (including HLB’s International Tax Committee) and has four children.

Kimberlee Phelan, CPA-MBATax Partner at Withum Smith+Brown (US)

Christine CaiPartner at ThinkBridge, China

Tell us more about HLB Women in Accounting (WinA) programme.The programme aims at enlightening member firms of the necessity to attract and retain women to their organisations. Women’s programmes go beyond topics of flexible time, life/work balance and maternity leave. WinA looks to help member firms develop specific women programmes to avoid investing time and money in their female professionals, only to have them leave permanently at a certain point to raise a family.

“ I learned that nothing is impossible just because you’re a woman.”

How do you conciliate your career and family?My husband and my parents help me a lot to take care of my daughter. And at ThinkBridge I focus more on HLB network coordination, internal training and execution of in-house projects such as accounting service and tax consultation while other partners focus on projects that require more travelling.

Your advice to a young woman starting her career?To gain good experience via extensive work. This can be a great foundation for future development. Also, be optimistic and try to find joy in the work, it makes life easier.

What do you do to answer women’s specific needs within your firm?We make sure that pregnant employees or employees with newly born babies work more on in-house projects. I talk to those female employees to understand their needs and make arrangements to help them. This way we can keep many top female managers in our firm.

HLB has more female partners and chairmen in China than anywhere else: are women working at top jobs frequent in China? Why?Chinese women receive the same education as men and enjoy fair work opportunities. Also, the one-child policy and strong family support give Chinese women more time to focus on their work.

HLB recently launched the Women in Accounting programme, an initiative aimed at helping member firms attract and retain women talents throughout their lives. HLB Insight asked three women in three different countries about their views on the programme and their experience as women top managers.

HLB Insight No. 1: October 2012 www.hlbi.com

Marianne SmitsOwner and Partner at HLB Van Daal, Netherlands

Do you find it difficult to conciliate your career and your family?You have to know that I’m the elder of a family of five girls. We’ve been raised to be independent, and all of us now work and have children. I have three. When our youngest child was two my husband decided to stop working and focus on raising our children and getting involved in the community – a choice which owed him much admiration from other men and the entire approval of his children! This has now been working extremely well for 15 years and I must say it has helped me a lot balancing my work and family life.

Your situation is quite exceptional: how about working women in the Netherlands in general?The Netherlands are still rather conservative where working women are concerned. When having their first child women still show ambition, however on the second one a lot of them content themselves with their job as it is – i.e. often part-time – and usually show less ambition, as women in the Netherlands often feel the urge to primarily take care of their household. Furthermore, free school starts at age four with children usually coming home for lunch and then back home quite early in the afternoon, and daycare is costly. However things are starting to change.

What else do you think hampers women in their careers?Women are not good at promoting themselves and their own work within the company which in large firms is a big handicap. Also, they don’t help each other as much and as naturally as men do and tend to focus on whether help is deserved or not: they are hard judges on themselves!

…that for any question regarding tax you can contact HLB’s International Tax Committee (ITC) at tax@hlbi.com

Did you know…

International Audit Bulletin The latest International Audit Bulletin is online at: http://ow.ly/dWx10. Featured in this issue: 2012 HLBI Audit and assurance Manual update, HLBI IFRS Guide and New HLBI Portal.

British Accountancy Awards 2012: Evolution LLP on top of list Evolution LLP, UK, has been shortlisted in two categories: Independent Firm of the Year for North England and Best Employer of the Year. Final results on November 21st.

The ITC on a China TourDelegates of HLB’s International Tax Committee (ITC) have been on a six-day tour in China to meet existing and prospective clients in the country. The tour ended in Jinan at new member Baicheng Tax Consulting Services, where the ITC presented HLB’s services in front of several hundred clients.

WithumSmith+Brown (US) launches International Relations Initiative WS+B has recently launched a number of initiatives to further strengthen its international relationships. Company members have been travelling to learn more about business and develop relationships abroad. Bill Hagaman, WS+B’s Managing Partner and CEO, was one of 19 delegates appointed by the American Institute of Certified Public

Accountants to take part in a trip to China.

The firm also launched its “China Desk”, a web page entirely written in Chinese with an English translation describing the firm’s services as well as displaying a video of one of WS+B’s Mandarin-speaking staff. Future web pages dedicated to other countries will include Germany, Canada, the Netherlands and the UK.

Finally, WS+B developed a blog dedicated to international topics, “Where in the World with Withum”, which will include views on international tax and accounting legislation, political and economic issues, as well as international travel and etiquette tips.

HLB CEO Rob Tautges visits tsunami-stricken areas in Japan Rob Tautges visited tsunami-stricken Oganawa and Natori City, where HLB Japanese member firm Meisei Audit has an ongoing programme sending volunteers to clean up debris. Rob Tautges met the mayor of Natori City, Mr. Isoo Sasaki, to gain insight on his plan to rebuild the city.

Olympic summer The Executive Office team in London diligently followed the Olympic Games… here with the well-known mascot.

News

Mr. Fang Wensen, Managing Partner of HLB Chinese member firm Wu Zhou Song De CPAs (now Hua Yin Wu Zhou LLP), has been elected by the Chinese Ministry of Finance as one of 2012’s Top 10 most influential people in the Chinese accounting industry. Under the leadership of Mr. Fang, Wu Zhou Song De CPAs’ growth doubled in 2011 while a successful merger with Hua Yin CPAs was completed.

HLB member elected one of China’s Top 10 most influential people in the accounting industry

HLB Insight No. 1: October 2012 www.hlbi.com

InterviewCoco Ke Liu – Beyond borders

HLB International 2012 Asia Pacific Conference This conference organised in Taipei by HLB Candor Taiwan CPAs was a complete success with record levels of attendance and extensive local media coverage.

HLB Football Tournament a successThe HLB Football Tournament organised in the Netherlands brought together more than 100 people from six countries. Congratulations to the winning team: Menzies from the UK.

Worldwide German-speakers meetingA first-time initiative for HLB has been taken in Germany, with HLB Stuckmann bringing together HLB’s German-speakers from all countries. Represented countries each had their own stand and gave lectures presenting business opportunities within their borders. This event is an outstanding way to learn how to do cross-border business and to show our clients that wherever they go within the HLB network, they will get services that speak their language.

HLB Winning International Business Course 20126 teams, 24 attendees, 6 dedicated mentors from 15 countries met in Amsterdam with one goal: winning an international assignment for HLB. The case-study was fictional but the training was real, opening the door to future real life successes.

HLB Middle East and North Africa (MENA) Regional ConferenceDubai, 21–23 October 2012

2012 HLB International ConferenceIstanbul, 10–14 October 2012

2012 HLB North American Tax ConferenceDelray Beach, Florida, 28 November to 1 December 2012

2013 HLB Audit & Tax ConferenceCopenhagen, 3–6 July 2013

Latest events and conferences

Editor: Lina RashedDesign and production: SampsonMay, London, UKwww.sampsonmay.com

HLB International – Executive Office21 Ebury StreetSW1W 0LD, London, UK

T: + 44 (0)20 7881 1100F: + 44 (0)20 7881 1109www.hlbi.com

Contact usThis issue

Connect with HLB

Forthcoming conferences

“ What you really want is to understand what lies behind the words.”

Coco, HLB’s Head of Business Channel Development, works at generating cross-border business for HLB member firms. A professional who grew up in China, worked in Hong-Kong, the Netherlands and now in the UK, Coco is the kind of multi-cultural person HLB needs to develop transnational business. HLB Insight asked her about her cross-cultural expertise.

“ Many people believe that you are half way to success into the Chinese market if you have Chinese-speaking people on board. However what you really want is to understand what lies behind the words. That’s where you need to be familiar with the culture.

For instance “no” is never given as an answer – and “yes” is not necessarily an agreement. This is a way to respect your dignity, especially in front of others. So never assume your deal is sealed until the agreement is officially signed!

When I first moved from Hong Kong to the Netherlands it was a bit of a shock. People tell their minds quite openly there, and publicly. This is a no-go for Chinese-speaking societies and even countries such as Japan and Korea where the concepts of respect, dignity and hierarchy are critical.

Also, work habits are not the same. As a Chinese tycoon once said: “We would love to do business with Europe but they are always on holidays”. Of course while this is a caricatured perception of Europe the West should also understand that success, competition and hard-work are core to those societies.”