The document outlines the discussions and findings from a session focused on helping Small and Medium Practices (SMPs) develop business advisory services. Key topics include the demand for advisory services, challenges faced by SMPs, and the role of member bodies in supporting these practices. It highlights the need for tools and resources, along with future activities to enhance member capabilities in business advisory.

1. SESSION 4 : TRACK C
ASSISTING SMPs DEVELOP
BUSINESS ADVISORY
Christina Foo, Member, IFAC SMP Committee
Mark Koziel, Vice President, Firm Services
& Global Alliances at AICPA
IFAC Small and Medium Practices Forum 2012
Singapore
March 19, 2012
Page 1 | Confidential and Proprietary Information

2. SMP Committee Perspective (Christina Foo)
Christina Foo, Member, IFAC SMP Committee
Page 2 | Confidential and Proprietary Information

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. 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. 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. 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. SMP Committee Perspective
Mark Koziel, Vice President, Firm Services
& Global Alliances at AICPA
Page 7 | Confidential and Proprietary Information

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. 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. 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. 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. 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. 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
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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. www.ifac.org