UHY GLOBAL JUNE 2018 COGS & WHEELS
SHARING FOR SUCCESS
The exponential progress of technology, the introduction of new financial regulations, and an increasing demand for transparent and ethical business practices are among the major drivers in the evolution of business needs – which, in turn, demand new types of support.
A worldwide drive to reduce the problems of corporate tax avoidance and profit shifting has resulted in an increased demand for specialist transfer pricing services; while 21st-century expectations around transparent and ethical business practices have led to a need for greater support and advisory services focused on corporate social responsibility. And perhaps one of the most pressing needs in an environment where many businesses worldwide run on digital platforms is for cybersecurity services. These are some of the key areas where UHY member firms are responding to the need for new service capabilities.
Providing high-quality services to clients while meeting evolving and sometimes complex security and compliance needs requires specialised skillsets and deep professional knowledge. For professional services networks, sharing expertise is key to ensuring that clients’ needs are best met wherever their operations are located – and this is most effectively achieved in a network where collaboration is embedded its culture.
GLOBAL LEVERAGE With over 320 business centres in over 95 countries, the UHY network is its own greatest resource. Underpinned by an ethos of working together, its collaborative culture is actively fostered and managed through many of its core tools and activities. A global intranet, accessible to all member firms, facilitates the exchange and sharing of expert input; while annual regional and global meetings enable knowledge sharing and the growth of strong professional relationships. Network-wide training opportunities develop expertise and nurture an international mindset; and UHY’s Knowledge Share Working Group is dedicated specifically to supporting collaboration between member firms.
As larger UHY member firms develop specialist service capabilities, the ability to leverage their expertise globally is a powerful asset. Knowledge sharing not only means that new service lines are available and accessible to clients through all UHY member firms, but that new capabilities continue to develop across the network. For more information about UHY’s capabilities, email the UHY executive office, firstname.lastname@example.org
, or visit www.uhy.com
TAX EXPERTISE Increased regulation around base erosion and profit shifting (BEPS) has led to a corresponding increase in the demand for specialist expertise around tax planning and reporting. While UHY’s special interest group (SIG) on tax continues to promote knowledge sharing around international taxation issues, UHY member firms are expanding service lines in areas such as transfer pricing.
TPS, an affiliate of UHY Fay & Co in Spain, is an independent firm of experts specialising in transfer pricing, and a member the international transfer pricing network TPA Global. Although located in Spain, as part of the UHY network, TPS’s experts are able to support UHY clients in other jurisdictions – for example, working alongside UK member firm UHY Hacker Young on a transfer pricing assignment involving the German operation of a UK client.
“TPS offers an extremely valuable service to clients in need of specialist transfer pricing advice,” says Bernard Fay, chairman of UHY and co-managing partner at UHY Fay & Co. “Their experience in assisting clients in various tax administrations provides the UHY network with an invaluable source of expertise.”
Contact: Claire Sanga, TPS, Madrid, Spain Visit: www.international-tps.com
TAKING RESPONSIBILITY Since 2013, UHY Fay & Co in Spain has provided specialised corporate social responsibility (CSR) consultancy as part of its risk and compliance offering. As well as CSR analysis, planning, modelling and audit, specific advisory services address the responsibilities of corporate boards and administrators, and compliance and risk management around data protection, and the prevention of money laundering and the financing of terrorism.
Max Gosch, partner at UHY Fay & Co in Madrid, is one of the firm’s leading CSR experts, and one of Global Law Experts’ recommended contacts in Spain for CSR services. “The world is changing rapidly,” says Max. “Transparency is a value that businesses should aim for in a society that increasingly expects it – and, along with reputation, human rights and social inclusion, transparency demands good governance.” CSR should not be seen as a burden, however, as Max explains: “Having a robust CSR policy is hugely beneficial. It helps protect reputation, reduces undesirable litigation, enhances relationships with stakeholders, generates valuable information for strategic decision-making, and increases competitiveness and sustainability. “Implementing a CSR programme does not always require new actions but may necessitate a change in the management of an organisation’s main activities. Keeping our clients informed on tools that can help them and developments they need to be aware of is an essential part of the services we offer,” says Max.
Contact: Max Gosch, UHY Fay & Co, Madrid, Spain Visit: http://www.uhy-fay.com/en/
CYBER SAFE Now in its second year, UHY Advisors, Inc.’s cybersecurity and technology consultancy in Houston, Texas in the United States, offers globally relevant tools and expertise to address the changes and challenges of technology in business. Focusing in particular on cybersecurity, it serves as a centre of excellence for advisory services such as enterprise security and risk management, and IT strategy and governance.
“With the increasing need for cybersecurity services, we have enhanced our resources to address the needs of our current and prospective clients,” says Richard David, chief operating officer at UHY Advisors, Inc.
“At UHY, we view cybersecurity as strategic rather than tactical. The challenges it brings to businesses are constantly changing, so providing proactive advice and insight is essential in ensuring that our clients’ digital property remains secure. Our experts offer holistic services and solutions encompassing technology, people and process.”
Contact: Norman Comstock, UHY Advisors, Houston, Texas, US Visit: uhy-us.com
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