INPACT builds global membership and cohesion

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. <

Nicola Maher and Arvind Hickman