The document discusses a forum held by the Federation of European Accountants on preparing small and medium sized practices (SMPs) for the future, focusing on strategic management experiences from SMPs that reshaped their business and technological developments in areas like cloud computing and big data. Attendees discussed challenges for SMPs in audit and advisory services and how they can develop new skills to help entrepreneurs, and one example from the Netherlands called the "Credit Passport" was presented as an advisory tool.

1. Fédération des Experts-comptables Européens
Federation of European Accountants
www.fee.be Connect with European Professional Accountants @FEE_Brussels
FEE SMP Forum
The future of SMPs in a global society
1
18 February 2015, Brussels

2. Federation of European Accountants
12:30 – 13:30
2

3. Federation of European Accountants
Item 6: Preparing practices for the future
13:30 – 16:00
External Guest: Jan Wietsma (author of A day in the life of
Klaas Ruiter; a glimpse into the future of an accountant)
3
Strategic
Management
Experience from
SMPs who
significantly reshaped
their business
Objective: Prepare
an SMP Info Pack
on strategic
management
Technology
Software, cloud
computing, big data
Objective: Prepare an
SMP Info Pack on
technological
developments

4. Federation of European Accountants
Strategy
4

5. Federation of European Accountants
Experience strategic management
 IFAC SMP Committee
 Antoni Gomez - Spain
 mergers of smaller practices
5

6. Federation of European Accountants
Strategic Management trends (1)
 The audit market:
 More regulation en supervision
 More IT – solutions
 Big 4 will dominate the Audit market
 SMP must collaborate in the Audit business
6

7. Federation of European Accountants
Question
 What is your opinion about the future of the
Audit-profession for the SMP’s
7

8. Federation of European Accountants
Strategic Management trends (2)
 The society becomes more complex
 The entrepreneur needs help making the right decisions.
Both emotional and financial.
 The SMP-accountant will become more and more a
business controller for SME’s
 This requires new skills for:
 Entrepreneurial behavior
 Strategy
 Marketing
 Financing
8

9. Federation of European Accountants
Question
 What are the challenges according to you for
SMP to advise and coach entrepreneurs?
9

10. Federation of European Accountants
An example from the Netherlands
The Credit Passport

11. Federation of European Accountants
The Credit passport
 In one overview of the health of the enterprise
11

12. Federation of European Accountants
Weighing
 Self-insight - the fellow
 Marketing - the firm
 Cash flow - the funds
 Network - Social Media

13. Federation of European Accountants
The entrepreneur is in control

14. Federation of European Accountants
Continuous-monitoring
 E-assessment entrepreneurship
 Financial data thru SBR
 Insight in social networks

15. Federation of European Accountants
Pro’s
 Enhancing self-insight of entrepreneurs
 Lower process costs
 Faster turnaround time
 Continuous monitoring
 Reduced fail costs
 Entrepreneur
 Finance
 Customized

16. Federation of European Accountants
The Credit passport
 An advisory tool for accountants
16

17. Federation of European Accountants
Entrepreneur
Accountants
Suppli
ers
Custo
mers
Banks
Advisors
Finance chain solutionChamb
er of
Comm
erce
Tax
depart
ment

18. Federation of European Accountants
The Credit passport initiative is be
supported by
 The Ministry of Economic Affairs
 Chambers of commerce
 Tax authorities
 Software suppliers
 Banks
 Crowd funders and credit unions
 University’s
 Accounting firms
18

19. Federation of European Accountants 19

20. Federation of European Accountants
Item 6: Preparing practices for the future
13:30 – 16:00
External Guest: Jan Wietsma (author of A day in the life of
Klaas Ruiter; a glimpse into the future of an accountant)
20
Strategic
Management
Experience from
SMPs who
significantly reshaped
their business
Objective: Prepare
an SMP Info Pack
on strategic
management
Technology
Software, cloud
computing, big data
Objective: Prepare an
SMP Info Pack on
technological
developments

21. Federation of European Accountants
Technology
21

22. Federation of European Accountants
Experience technology
 Ray Baxter – United Kingdom
 working with cloud systems
22

23. Federation of European Accountants
Trends
 Cloud technology
 Bring your own device (BYDD)
 Mobile
 Smartphone's
 Working
 Transaction and paying
 Big data
 Data analyse / IT-audit
 Data chain integration
 Web strategy
23

24. Federation of European Accountants
Issues to discuss (1)
 Which trends are opportunities for your
organisation and why?
 Knowledge and skills
24

25. Federation of European Accountants
Issues to discuss (2)
 What about privacy and protection (hacking,
phising, spoofing, social engineering, pharming,
scam)
25

26. Federation of European Accountants
Solution Control environment
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27. Federation of European Accountants
Solution
27

28. Federation of European Accountants
Concluding remarks
16:00 – 16:30
28
Next steps for the practice of the future

29. Federation of European Accountants 29
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