Christina Foo and Mark Koziel - Assisting SMPs Develop Business Advisory

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Presentation by Christina Foo, Member, IFAC SMP Committee, and Mark Koziel, Vice President, Firm Services & Global Alliances at AICPA, at IFAC SMP Forum, March 2012

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Christina Foo and Mark Koziel - Assisting SMPs Develop Business Advisory

  1. 1. SESSION 4 : TRACK CASSISTING SMPs DEVELOPBUSINESS ADVISORYChristina Foo, Member, IFAC SMP CommitteeMark Koziel, Vice President, Firm Services & Global Alliances at AICPAIFAC Small and Medium Practices Forum 2012SingaporeMarch 19, 2012 Page 1 | Confidential and Proprietary Information
  2. 2. SMP Committee Perspective (Christina Foo) Christina Foo, Member, IFAC SMP Committee Page 2 | Confidential and Proprietary Information
  3. 3. Assisting SMPs Develop Business Advisory• SMP Committee perspective on the demand for business advisory• AICPA experience in the role and opportunities a member body has to assist SMPs• Input into SMP Committee’s 2013 Work Plan• Your views count: Interactive and group discussion with report back Page 3 | Confidential and Proprietary Information
  4. 4. SMP Committee Perspective (Christina Foo)• Quick Poll Survey Findings – Advisory/consulting services second fastest source of revenue growth – Biggest challenges • Insufficient partner time • Marketing services to clients – Opportunities • Existing customer-client relationship • Competence and expertise Page 4 | Confidential and Proprietary Information
  5. 5. SMP Committee Perspective (Christina Foo)• What is “business advisory”? (Source: August 2011 IFAC SMP Quick Poll) – Business development – Corporate advisory – Wealth creation and preservation – Tax consulting – Management accounting Page 5 | Confidential and Proprietary Information
  6. 6. SMP Committee Perspective (Christina Foo)• Targeted for member body use – Translate – Adapt for member body circumstance• Activities to assist IFAC member bodies – Template articles on current topics such as Role of SMPs in Providing Business Support to SMEs – Videos on moving to business advisory services (in progress) – SME Checklist (in progress) Page 6 | Confidential and Proprietary Information
  7. 7. SMP Committee Perspective Mark Koziel, Vice President, Firm Services & Global Alliances at AICPA Page 7 | Confidential and Proprietary Information
  8. 8. Breakout Discussion – Your Views Count• Question 1: – What areas of business advisory are in demand by your members and in your country? Where is this demand coming from (size of entities, regulatory change, other?)• 15 minute discussion and 10 minute report back Page 8 | Confidential and Proprietary Information
  9. 9. Breakout Discussion – Your Views Count• Question 2: – What tools, products, promotional materials, and other business advisory resources will help your members? What will assist them to grow and bring value to membership?• 20 minute discussion and 15 minute report back Page 9 | Confidential and Proprietary Information
  10. 10. Breakout Discussion – Your Views Count• Targeted for member body use – Translate – Adapt for member body circumstance• Activities to assist IFAC member bodies – Template articles on current topics such as Role of SMPs in Providing Business Support to SMEs – Videos on moving to business advisory services (in progress) – SME Checklist (in progress) Page 10 | Confidential and Proprietary Information
  11. 11. Breakout Discussion – Your Views Count• Continue to develop the video library (IFAC videos, cobranded video and links relevant videos) – Consider hi and low resolutions, and/or podcast/audio only – Ideas on topics and interviewees welcome• Develop the SME checklist further by having sections dedicated to different areas of advisory work• Develop a slide presentation with speaking notes on how to build a business advisory practice possibly disseminated via Extranet for member body use and eventually housed on the website Page 11 | Confidential and Proprietary Information
  12. 12. Breakout Discussion – Your Views Count• Question 2: – What tools, products, promotional materials, and other business advisory resources will help your members? What will assist them to grow and bring value to membership?• 20 minute discussion and 15 minute report back Page 12 | Confidential and Proprietary Information
  13. 13. Breakout Discussion – Your Views Count• Future SMP Committee activities - Your suggestions and recommendations: – Option A: – Option B: – Option C: – Option D: – Option E:• Voting of ideas Page 13 | Confidential and Proprietary Information
  14. 14. FUTURE IDEAS Cont.• Note all resources and tools are located at www.ifac.org/about-ifac/small-and-medium-practices- committee/smp-resources-and-tools (Business Advisory)• Next steps – Discussion of ideas by SMP Committee Page 14 | Confidential and Proprietary Information
  15. 15. www.ifac.org

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