UHY GLOBAL JANUARY 2020 WORD OF WELCOME
WORD OF WELCOME
Welcome to the latest enhanced online edition of UHY Global, our biannual magazine for business. Inside, you will find a wide range of international topics, news and insights which we hope will be both interesting and thought-provoking.
UHY Global is also available as a non-interactive A4 format print magazine, which you can download from the menu bar, and read at your leisure. But if you want to dig deeper, learn more, follow links online to source materials and further reading, or watch related videos, simply stay online with UHY Global and enjoy the content!
It is a great pleasure for me to introduce this issue of UHY Global. I welcome you as the new chairman of UHY’s international network, a responsibility I was delighted to accept just a few months ago. I certainly relish the opportunity of meeting the challenges and expectations of a successful, growing network and I look forward to continuing our exciting journey in this time of unprecedented change. I am reminded of how a young Bob Dylan explained that The Times, They Are A-Changin’ back in 1964, and of how his words resonate as much today as they did then. Embracing change and understanding how this is a good and necessary thing, is a recurring theme throughout this edition of UHY Global.
For example, in our feature 2020 Vision: Accounting for Change, we take a look at what lies on our own professional doorstep in the year ahead, and how accountancy must meet progress head-on, in order to survive and thrive. Rapid technology advance is a massive agent of change for the profession, but brings significant benefits to our clients. Also, implementing new, tougher international standards in audit and tax will occupy all of us in 2020; and the shifting generational balance in accountancy’s professional workforce points to a transformative and exhilarating future. If there is one word that defines the uncertain nature of commerce, it is probably: disruption. (Just ask Kodak.) In responsive sectors, one consequence is the rapid redevelopment of alternative business models, and we explore this in the context of content streaming in the media sector, in our feature Entertaining the World.
Another shift in the balance of power – quite literally – is the growth of renewables. Yet while the overall direction is forwards, energy is still very much a two-speed industry, as we find out in Renewable Energy at the Crossroads. Many UHY member firms work with renewables clients, from wind and solar construction and logistics to biomass production, and I am delighted to bring one of these client stories to this issue of our magazine. Wind Revolution details how UHY member firms are working together to help a Polish turbine manufacturer to expand across Europe. Elsewhere in UHY Global, we look at the upcoming Summer Olympics and Paralympics in Tokyo, the challenges of transfer pricing for multinationals, the changing expectations of wealth and estate management for private clients and we take the opportunity to celebrate some of our own remarkable people across the network. Meanwhile, please let me wish you a very prosperous 2020 and much success.
Dennis Petri Chairman, UHY International
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