During the 2017 financial year ECOVIS Clark Jacobs took on a client previously with a major global consulting firm. This client has operations in Australia, China, Hong Kong, New Zealand and the United States and their head office is in Australia.
Issue
Part of the brief for ECOVIS Clark Jacobs was to facilitate communications between each of the jurisdictions and also establish the involvement of the local Ecovis offices in each of these jurisdictions. The client had engaged the original consulting firm in the hope that their brand name and international footprint would assist with the business process and also earn the approval of their lender. What the client found was an expensive top tier firm with a high rate of partner rotation and that the overseas offices of this consulting firm were reluctant to assist a non-public client. Additional challenges facing the head office in Australia were the requirement to implement a new trade payment finance facility and recruit a new finance team both in Australia and in China.
Solution
Six months into their appointment, Ecovis Shanghai had already attended to the filing of the outstanding audit in China, and Ecovis Hong Kong had commenced its preliminary engagement. The implementation of the new finance facility and the recruitment of the new finance team were finalised within six months of the appointment. The directors of the company were now again able to focus on sales to increase revenue, analytics to measure the performance of the business were now facilitated by the new finance team, and new lending facilitated an increase in working capital to enable expansion.
Currently
Engagement will continue in each of the jurisdictions and with the assistance of our colleagues.
The client is happy to be dealing directly with non-rotating partners at ECOVIS Clark Jacobs and appreciates the assistance readily given by Ecovis offices worldwide.
Author:
Heath Stewart, partner, ECOVIS Clark Jacobs, Sydney, Australia, heath.stewart@ecovis.com.au
Ecovis is a leading global consulting firm with its origins in Continental Europe. It has over 5,000 people operating in 60 countries. Its consulting focus and core competencies lie in the areas of tax consultation, accounting, auditing and legal advice.
The particular strength of Ecovis is the combination of personal advice at a local level with the general expertise of an international and interdisciplinary network of professionals. Every Ecovis office can rely on qualified specialists in the back offices as well as on the specific industrial or national know-how of all the Ecovis experts worldwide. This diversified expertise provides clients with effective support, especially in the fields of international transactions and investments – from preparation in the client’s home country to support in the target country.
In its consulting work Ecovis concentrates mainly on mid-sized firms. Both nationally and internationally, its one-stop-shop concept ensures all-round support in legal, fiscal, managerial and administrative issues.
The name Ecovis, a combination of the terms economy and vision, expresses both its international character and its focus on the future and growth.
www.ecovis.com
ECOVIS AG Steuerberatungsgesellschaft
Ernst-Reuter-Platz 10
10587 Berlin
Telefon: +49 89 5898-266
Telefax: +49 (30) 310008556
http://www.ecovis.com
ECOVIS AG Steuerberatungsgesellschaft*
Telefon: +49 (89) 5898-266
E-Mail: gudrun.bergdolt@ecovis.com
