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INPACT builds global membership and cohesion

  • Author: Nicola Maher and Arvind Hickman
  • Published: 30 Apr 2009
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INPACT International has admitted four new member firms, building the total membership of the INPACT group to 167 firms across 65 countries. The mid-tier group is also working towards drawing its three regional alliances into a more cohesive global unit.

The new firms are Audit Compta & Conseil in Mauritania, Ethics Plus in Dubai, Moualem and Moualem Accounting Firm in Israel, and Bernadini, Postacchini e Associati in Fermo, Italy.

INPACT International co-ordinator Tendai Mau-Mau said the recent additions work well with INPACT’s strategy of trying to attract independent small- to medium-sized firms.

“All our member firms should continue to have their own independence, their own identity and so forth. But they have the backbone of us supporting them” she said.

INPACT was founded in London in 1989 with the aim of creating an organisation that had an international presence with local expertise.

Over the past 20 years, three regional alliances have developed – INPACT Americas, INPACT Asia Pacific and INPACT International – which come under the INPACT umbrella.

INPACT’s strategy is to move towards being a more cohesive global group and building a global corporate identity as opposed to having the three different identities, Mau-Mau explained.

INPACT International vice-president Stephen Jacobs said the group has always pursued the model of an alliance rather than a network.

“We see [an alliance] as an attractive model. Our members are able to develop independently as a global alliance, from three separate alliances, which reflect the cultural and legislative differences in the three regions,” Jacobs explained.

“Now we have an over-riding global strategic group, which is trying to bring more cohesion to the alliances to reflect the worldwide nature of INPACT.”

Under the strategic group, INPACT members are working closely to develop a common website, common practices and common databases to help share information more easily. A combined member advertising campaign is one initiative in the pipeline to help facilitate a more unified approach to the marketplace.

The three alliances do not work under a mandatory common audit methodology. However, a few years ago they established INPACT Audit, which is a separate organisation owned by the alliances that members can join if their standards meet the requirements of the Forum of Firms. INPACT Audit is a full member of the forum.

“[With INPACT Audit] we are really promoting transnational audit among our members and encouraging them to increase their standards and training,” Jacobs explained.

INPACT Audit members must belong to their local professional bodies and be reviewed by another INPACT member firm before they are allowed to join to ensure their standards are sufficient. Outside of INPACT Audit there are no peer review systems or common standards, Jacobs said.

During the next couple of years, INPACT’s strategy will include working to fill membership holes in certain regions, particularly the UK and Eastern Europe.

INPACT is in different stages of negotiations with potential member firms in Portugal, Denmark, Sweden and Guatemala. <

n INPACT GROUP

Recent member firm additions

 

Fee split (%)

Member Firm

Country

Leaders

Staff

Partners

Audit

Book keeping

Other accounting

Tax

Management consulting

Corporate finance

Other

Audit Compta & Conseil

Mauritania

Ahmed Cherif Ould Cheikhna

u/a

4

74

0

8

5

7

6

0

Ethics Plus

UAE

A R Ramachandran

u/a

10

45

20

10

0

20

0

5

Moualem and Moualem Accounting Firm

Israel

Moualem Moshe

50+

5

50

20

0

10

10

10

0

Bernadini, Postacchini
e Associati

Italy

Roberto Bernadini and Pierino Postacchini

19

9

10

35

0

10

25

17

3

u/a= unavailable Source: INPACT

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