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PKF International confident over North American position

Following the news of the creation of Allinial Global, formerly PKF North America, John Sim, chief executive at PKF International, told International Accounting Bulletin that the move had been planned and was a result of the network's strategy to build a branded presence in the region.

Sim said that to suggest PKF North America has broken ranks with PKF International was not accurate. PKF North America was built on a collaboration agreement with the Associated Regional Accounting Firms (ARAF) which started in 2002. At the time both PKF and ARAF were associations but later PKF International changed its status to that of a network.

Sim said that in order to follow the network strategy to build a PFK branded presence in North America, in May of this year PKF International's board gave ARAF notice of its intention to terminate the cooperation arrangements effective at the latest 31 May 2016.

"PKF International ended the collaboration agreement that had been in place since 2002. Most of the ARAF firms were never member firms of the PKF International network rather they were members of ARAF which did business as PKF North America and remained an association," Sim said.

Regarding PKF International presence in North America, Sim said it was incorrect to say that the launch of Allinial was a threat to his network footprint in the region. "The PKF branded firms will remain in the PKF family" Sim said. "We have a clear strategy to build a branded PKF presence in North America with key firms in all the major cities."

ARAF has over 100 members of whom about 20% were PKF network members, according to Sim.

In a statement released by PKF International, Sim said the steps being taken have been decided in close consultation with the North American firms who wish to belong to a fully integrated global network, "and while the formal relationship with ARAF is ending it is expected that there would continue to be ongoing activity between the individual member firms of each organisation".

Also quoted in the statement, PKF International chairman Sajjad Akhtar said: "The separation from ARAF has been planned for and is in line with PKF's global strategy to build a branded network of member firms in North America just like in other regions around the world."

Over the next several months, he continued, PKF International will work with firms that wish to continue as members of PKF. "We aim to have member firms in place in all key economic locations. Clients can be assured that they will continue to receive ever improving world class service from PKF member firms".

Related article:

PKF North America leaves the network to create its own association

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