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TUACC philip feb 2012

  1. 1. Twitteren tijdens dit Tuacc evenement? #tuacc
  2. 2. Tuacc Busy Season Break event Gouden kans Nederlandse auditaanpak: waar zitten sweet spots? Philip Elsas ComputationalAuditing.com Afas Theater, Leusden February 29, 2012 Twitteren tijdens dit Tuacc evenement? #tuacc
  3. 3. Artikeltje in Accountant Artikeltje in Accountant ● ● Wie heeft 't niet voorbij zien komen? Wie heeft 't niet voorbij zien komen? ● ● Gideon Volkers had nog 'n vraag Gideon Volkers had nog 'n vraag Twitteren tijdens dit Tuacc evenement? #tuacc
  4. 4. Identify new Identify new value-adding services value-adding services ● ● vertrekken vanuit de pull,, vertrekken vanuit de pull, pull, pull en wel de owner-ordered pull en wel de owner-ordered pull ● ● business case, sweet spots business case, sweet spots ● ● wie staat er goed opgesteld? wie staat er goed opgesteld? Twitteren tijdens dit Tuacc evenement? #tuacc
  5. 5. ● Owner-ordered auditing addresses understatement of profits: profits: whether revenues are understated and expenses are overstated As an owner you want assurance that management, who you entrusted your money, is not making profits while keeping parts of it unstated, since profits are the basis of your dividends and stock quotation ● Management-ordered auditing addresses overstatement of profits As management you want to attract investment capital by increasing your credibility that the profits you state are all real, not overstated, and so you hire the independent auditor to provide this assurance ● Management's illegitimate interest ─ overstating or understating profits ─ determines the direction of the audit from a market-driven value-adding perspective Twitteren tijdens dit Tuacc evenement? #tuacc
  6. 6. Owner-ordered audit: to check management to increase credibility that profits aren't understated Owners Money-inflow for management maximize equity Management Money-inflow for owners long-term ROI Potential Owners Management-ordered audit: to attract new investors to increase credibility that profits aren't overstated Twitteren tijdens dit Tuacc evenement? #tuacc
  7. 7. Franchisor-Franchisee Waardekringloop International Twitteren tijdens dit Tuacc evenement? #tuacc
  8. 8. Franchisor/owner- Franchisor/owner- ordered auditing is not a niche ordered auditing is not a niche ● ● 20-25% of economy, incl. dealer networks 20-25% of economy, incl. dealer networks & being at the receiving end of royalties & being at the receiving end of royalties ● ● go vertical-by-vertical in the market place go vertical-by-vertical in the market place Twitteren tijdens dit Tuacc evenement? #tuacc
  9. 9. “What's in it for me?” “What's in it for me?” ● ● franchisor franchisor ● ● franchisee franchisee ● ● auditor, audit service provider auditor, audit service provider ● ● educators: train-the-trainers & roll-out educators: train-the-trainers & roll-out ● ● tax and bail-out payers & tax and bail-out payers & tax office (internal revenue service) tax office (internal revenue service) Twitteren tijdens dit Tuacc evenement? #tuacc
  10. 10. Internal Revenue Service This quote is taken from a training course "programmaboekje van de Vaktechnische dagen van de Belastingdienst" of the Dutch equivalent of the US Internal Revenue Service, from September 2011, that starts with the recently adopted focus on their efficiency opportunties to rely on the franchisor for inspecting the franchisees: "Franchiseketens - Menno van Doorn, EDP-auditor bij Belastingdienst/Zuidwest Het idee ‘franchising’ is inmiddels deels uitgewerkt in een project waarin een verkennende analyse is uitgevoerd naar de wijze waarop franchiseorganisaties functioneren. Daarnaast wordt per franchiseketen vastgelegd in hoeverre de bedrijfsvoering van de franchisenemer beheerst wordt door de franchisegever, uitgedrukt in een ‘CAB-score’. Hieraan is te zien of—en in hoeverre—beheersingsactiviteiten die een franchisegever uitvoert, ons als Belastingdienst zekerheid kunnen verschaffen over de juistheid [expenses] en volledigheid [revenues] van de aangiften van zijn franchisenemers. Op deze wijze kan het toezicht—met diverse gradaties van efficiëntie, van werkbesparing tot HT— worden uitgeoefend op ca. 800 franchiseketens in plaats van ca. 40.000 zelfstandige ondernemers (ca. 10% van het MKB in Nederland). Daarnaast zijn er intermediairs en adviseurs die zich specifiek richten op franchising en daarbij gebruik maken van certificering. Door hier bij aan te haken kan het toezicht nog efficiënter worden vormgegeven." Twitteren tijdens dit Tuacc evenement? #tuacc
  11. 11. US-based investors US-based investors ● ● mobile killer app: smart close-to-real-time mobile killer app: smart close-to-real-time business relation franchisor-franchisee business relation franchisor-franchisee ● ● on the outlook for more Dutch auditors: on the outlook for more Dutch auditors: ● in franchisor-franchisee settings in franchisor-franchisee settings ● ● using sell-side to buy-side top-cycle using sell-side to buy-side top-cycle ● ● with international component to the deal with international component to the deal ● Twitteren tijdens dit Tuacc evenement? #tuacc
  12. 12. and more, if you're not in franchisor... and more, if you're not in franchisor... ● ● China: on the outlook for alternative audit China: on the outlook for alternative audit approach, one million auditors, appreciate approach, one million auditors, appreciate ownership-orientation and high yin-yang ownership-orientation and high yin-yang quality of top-cycle, Fou-Khan Tsang & quality of top-cycle, Fou-Khan Tsang & Yao-Hua Tan, Canada & US are exporting Yao-Hua Tan, Canada & US are exporting ● ● educational materials, model-based educational materials, model-based Twitteren tijdens dit Tuacc evenement? #tuacc
  13. 13. Franchisor-Franchisee if not you, who? if not now, when? Waardekringloop International Twitteren tijdens dit Tuacc evenement? #tuacc
  14. 14. Twitteren tijdens dit Tuacc evenement? #tuacc

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