The EGIAN Position Paper in full (republished by permission) Quoracy.com fully endorses the views expressed in this document
AN EGIAN POSITION PAPER
EGIAN SUPPORTS ROBUST REFORM PROGRAMME FOR THE EUROPEAN UNION AUDIT PROFESSION
PRINCIPLES AND ACTIONS
1 THE URGENT NEED FOR CHANGE
The creation of a more open vibrant market in the audit of large listed companies is urgently needed to protect and advance the public interest. If no action is taken, the currently excessive levels of concentration in this segment of the audit market in nearly all Member States of the European Union will very likely continue to rise even further, not least as a result of non-Big 4 firms being taken over by their dominant Big 4 competitors in key markets. An example of how to define large listed companies is set out at the end of this paper. Read more…
Two months ago I started a discussion on the CEE Professionals Group on Linked-In.
“Help to find a phrase for PL-CZ-SK or coin one if there isn’t one…
Everyone knows what Benelux is, who the PIGS or BRIC countries are, or even what is meant if we say “German Speaking World”, but how would you find an easy way to describe the triangle of countries Poland, Czech Republic and Slovakia? Please remind me or educate me of an existing term I may have overlooked, or failing that let’s put our heads together and coin one.”
Among the 49 comments to date several very interesting options appeared, no less than 21 choices from 16 people – a testimony to the helpfulness and the creativity of the Group. So now is the time to vote on them, which I’ve asked people to do here as there’s no voting there and also people may want to vote without putting their name to the vote.
Hopefully the mods of the Group will see this as fair, as there is a chance for my regulars to know about and join the Group as well as for Group members to see this site and sub to it.
Anyway, here’s the poll and thansk in advance for your vote. I can’t see your IP Address but the machine at polldaddy does so you can only vote the once and be counted. Further attempts are not counted, but enable you to see how the vote is progessing, and when it pans out I’ll put the results into the discussion.
There isn’t a prize for the winner, other than the honour of having thought of the best one, but my heartfelt hanks for all your help in getting to an optimal answer to the problem!
- Splitting Europe (zewar.wordpress.com)
- Sorbs: relics of the Ostsiedlung | Gene Expression (blogs.discovermagazine.com)
- Taking Your Pulse: Karaoke vote results in a tie (pbpulse.com)
Martin Oxley sent this out for the Foreign and Commonwealth office and we are pleased to assist in its propagation.
Dear Quoracy.com subscribers,
Poland presents an attractive nearshore growth opportunity for Britain Plc. In line with the new UKTI strategy presented to government recently by Lord Green, Minister of State for Trade and Investment we are introducing a step change in the way UKTI supports British business growth.
We are taking a very proactive approach on behalf of government to provide a range of bespoke services to enable British SME’s to significantly enhance exports and also work with large corporations to win major overseas contracts and expedite their growth in market.
With our new Ambassador HMA Robin Barnett and the Embassy team we are engaging to support strong growth oriented business agenda in Poland.
With this in mind I am pleased to attach a brief outline of the services which UKTI has developed to support British business in Poland. I very much look forward to meeting you over the course of the coming weeks to discuss with you how we can assist you with your specific company needs.
I am very happy to visit you or alternatively you would be most welcome to visit us and I will provide you a tour of our excellent event facilities at the Embassy.
Quoracy.com would also like to take this opportunity to congratulate our dear friend Martin Oxley on his recent new appointment to the FCO in Warsaw, and to wish him every success working with Her Majesty’s new Ambassador to Poland, His Excellency Robin Barnett. We wish you and your team many successes and a lot of fun.
Two fantastic free resources courtesy of Baker Tilly Czech Republic.
I was recently reminded of something my old gardener told me about ivy. I had been surprised at how slow some lovely variegated ivy that had been planted by my fence was coming on, and his words were as follows:
With ivy, the first year it is put in, it does nothing, it just sulks at having been put in a new place. The second year is starts to spread out horizontally along the ground by the bottom of the fence, and in the third year it starts to grow upward, like a curtain.
Wise words, from someone who knew his onions. And his ivy. It seems to me that this is a great analogy for many new businesses. Entrepreneurs obviously look for a rapid return on capital employed. They want their profits and the cash back to invest in the next thing. But nature takes its course with some businesses just like it does with the ivy, and you cannot rush it.
The first year, you have set up costs, people are getting used to each other in a new team with a new product, new identity. This is like the ivy “sulking” – just establishing a new root system and adapting to the chemistry of the soil and the direction of the light.
The second year you start to see sales pick up but the prices are not that good yet and also the volumes don’t allow the contribution to cover fixed costs. You get growth but you don’t get the profit. It is like the ivy growing along the ground by the bottom of the fence. It is obviously going somewhere, but you aren’t getting the effect of it yet.
The third year you reach a certain critical mass, you break even you start to nudge into profit, your cash flows turn the corner and you start paying back your seed finance. This is like the ivy making its curtain up the fence.
If the ivy survives at all, it will certainly produce the coverage in time. The same with these new businesses. They simply need to be nurtured and for nature to be allowed to take its course. If the soil is right, the light is there, and the water, the plant healthy, then it will do what it is programmed to do in its own time. Micro-managing it will not help. Restructuring the team which is only starting to gel will not help. it will be like transplanting the ivy at the end of the second year for failing to raise – it will only go through its sulking and creeping years all over again in the new position.
- Poison ivy risks fade if you take precautions (seattletimes.nwsource.com)
- On Poison Ivy Patrol (webnerhouse.com)
- Frugal Ways to Prevent Poison Ivy (suddenlyfrugal.com)
- Can you lose a natural resistance to poison ivy as you get older? (zocdoc.com)
The Financial Institute of Corporate Treasurers in Poland or Finansowy Instytut Skarbnikow Korporacyjnych, a public interest organisation promoting education and best practice in the use by businesses of banking products and financial instruments, has now relaunched its website here – and some of the content on this website will be shared over there and vice versa. Subcribers to FISK can access the password protected content on this website, for example, such as the recent article on the use of factoring to achieve the unlocking of otherwise disallowable tax cash flow benefits.
The new FISK website is crammed with information about best Treasury Management practice and on it also you can register for the seminars and courses, a new virtual treasury college leading to FISK’s certification as a Corporate Treasurer, on the way learning techniques which will both save and earn money for your organisation.