All you need to know about RSM

Transcription

1 All you need to know about RSM FREQUENTLY ASKED QUESTIONS ABOUT THE RSM NETWORK 2015/16 THE POWER OF BEING UNDERSTOOD AUDIT TAX CONSULTING

2 RSM at a glance A worldwide network of independent audit, tax and consulting firms. Key services provided include audit and assurance, tax, consulting, risk advisory, IFRS, transaction advisory and restructuring. 730 offices and 37,500 professionals worldwide* Combined fee income of approx. US$4.4bn* Global Executive Office in London, UK Member firms and correspondents in 110 countries*. *As at October 2015

3 What is RSM? RSM is one of the world s largest independent networks of audit, tax and consulting firms ranked 7th globally. RSM is represented by more than 37,500 professionals in 730 offices across 110 countries. RSM is the 6th largest provider of tax services by revenue and the 6th largest provider of audit and assurance services globally. What does RSM stand for? The RSM name is a historical acknowledgement to our past and to the firms who have been hand-picked to build the global network over the past 50 years, but it is not intended to represent any individual member firm. Instead, RSM today represents our unity and our collective focus on the core values of our network, distinguishing RSM as the audit, tax and consulting provider of choice to entrepreneurial, growth-focused organisations globally. When was RSM formed? The network was founded in In 2014, RSM celebrated its 50 year anniversary. When was the current RSM Brandmark adopted? On 26 October 2015, the unified global logo came into use by member firms globally. Is RSM a network or one global firm? RSM is a network of independently owned and managed audit, tax and consulting firms. The legal position of the network must be clear at all times and therefore it is important that the disclaimer wording (in green box) is used on all network and member firm communications. In addition, as RSM member firms use the same trading name, particular attention must be paid to ensure that there is no confusion as to the parties and relationships involved, particularly when a communication involves more than one member firm and/or reference to the RSM network. Therefore, RSM members firms must follow the Legal Guidelines document: Legal Guidelines for the use of RSM in Internal and External Communications. How do I describe RSM to a client or contact? RSM is a world leader in the provision of audit, tax and consulting services to entrepreneurial, growthfocused organisations globally. Through collaboration, deep understanding of what matters most to clients, and insight sharing by senior partners, we empower clients to move forward with confidence and realise their full potential. Disclaimer RSM is the brand used by a network of independent accounting and advisory firms each of which practices in its own right. The network is not itself a separate legal entity of any description in any jurisdiction. The network is administered by RSM International Limited, a company registered in England and Wales (company number ) whose registered office is at 11 Old Jewry, London EC2R 8DU. The brand and trademark RSM and other intellectual property rights used by members of the network are owned by RSM International Association, an association governed by article 60 et seq of the Civil Code of Switzerland whose seat is in Zug.

4 What are RSM s expectations of member firms?

5 RSM has clearly defined expectations of all member firms. The management of every firm should lead with a positive tone and proactive attitude toward RSM. It is expected member firms will: Adopt fully all RSM policies and procedures as they are approved as network standard. Adopt, implement and consistently apply shared methods and processes to facilitate closer alignment. Have and execute against annual growth plans that exceed their market s projected growth rate for professional service (GDP if appropriate) by 2%. Have sufficient capabilities in all core services and in select non-core services, depending on the market needs. Actively encourage personnel to learn about international capabilities and appropriate staff should be supported to contribute hours/ knowledge to building the international network. Actively promote the network to the market. Prioritise firm resources to build their own capabilities with regard to RSM target sectors. Refer clients with international needs to other RSM member firms and serve referred clients at the highest level. Commit to discussing the international needs of clients and the capabilities across the network with all existing and new clients and prospects. Work with other RSM member firms to develop opportunities to win work. Fully comply with the RSM Communication Guidelines, and RSM Legal Guidelines, always using the disclaimer on communications materials. Respond to information requests in a timely manner and provide statistical data when requested. Follow the RSM Way to deliver a consistent client experience wherever in the world we provide services. Further information on the expectations of member firms and the governance and structure of the network can be found in the RSM Transparency Report 2016 and the Operational Plan and Budget.

6 Does RSM have a formal governance structure? The RSM network is led by a Board of Directors made up of representatives from a number of member firms. The Board selects a Chairman and a Chief Executive Officer (CEO). The Board is responsible for developing the overall strategy for the network, which is implemented by the CEO, together with a team of staff in the Global Executive Office (EO). The CEO and EO staff are responsible for a wide range of activities regarding operations, direction and administration of the network, including: Global branding and messaging Market movements, competitors, international client needs Geographical member firm coverage International business development process and activities including Connected for Growth Inspections of existing member firms and due diligence of prospective member firms Quality, audit methodology and global independence policies Central talent development initiatives e.g. RSM Academy and RSM ITAX Academy International audit training/cpd guidelines and materials Supporting technical committees RSM has executive committees, leadership groups and advisory committees that deal with specific service lines or support issues. These are: the Transnational Assurance Services Executive Committee (TASEC), the Global Tax Leadership Group, the IFRS Advisory Group and RAS Leadership Team, the IT Advisory Committee, and the Global Marketing and Communications Committee.

7 TASEC is responsible for setting the audit methodology and policies that all member firms agree to adopt, as well as other audit-related policies such as those dealing with quality control, ethics, independence, training and Continuing Professional Development (CPD). The Centres of Excellence (CoE) mainly focus on international business development and/or technical excellence as applicable to specific service lines e.g. risk advisory. There are currently two project working groups: Connected for Growth and the Inter firm Agreement Group. These groups work on specific areas of focus with the CEO, as appropriate, to address the projects they are tasked to deal with. The CEO then reports the status to the Board. The CEO can appoint working groups as needed. What regional structures are in place? The member and correspondent firms of RSM are organised into geographic regions for the purposes of business development, administrative issues, quality control programmes and for coordination of cross-border or multinational team assignments. Currently, the regions are constituted as follows: Africa, Asia Pacific, Europe, Latin America, Middle East and North Africa (MENA) and North America. The Africa, Asia Pacific, Europe, Latin America and MENA regions have a governance structure that takes the form of Regional Councils. These councils consist of the managing partners from each of the member firms in that region. They are responsible for business development activities, raising the profile of RSM regionally, international client service support, member firm engagement and alignment with RSM strategy.

8 Each region has a Regional Leader who works with the Regional Council. The Regional Leaders are experienced in cross-border client services and have developed a high level of familiarity with the member firms and correspondents in their region. The Regional Leaders gather annually in London for a two-day meeting with the CEO and various members of the EO. The purpose is to discuss regional business plans and ensure alignment between regions and a co-ordinated approach to business development and client service. What policies and procedures do RSM member firms agree to adopt and align with? RSM Quality Assurance and Risk Containment Policies & Procedures RSM Audit Manual RSM Model Audit Programmes (referred to as RSM MAPs) RSM Ethics and Independence Policies RSM Assurance Services Training and Continuing Professional Development Policies RSM Member Firm Inspection Programme Policies and Guidelines RSM Anti-bribery and Corruption Policies and Guidelines What is the International Desk in RSM member firms? Each member firm is required to establish an International Desk and appoint an International Contact Partner (ICP). The main functions of a fully operational International Desk/ICP are to: Serve as the main point of contact for the firm with the EO, Regional Leader or other RSM member firms. Serve as the central point for all inbound and outbound enquiries, and referrals throughout the firm, for any service line and track all enquiries and referrals. Develop and maintain materials, skills database and other programmes to communicate international capabilities to staff, clients and prospective clients. Direct and engage in business development initiatives with other RSM member firms. Provide international infrastructure support to the firm, including international training, events and conferences, secondments, international tender proposal co-ordination, etc. Depending on the size of each firm and the volume of its referral activity, the International Desk can range from one contact partner to a small team of staff.

9 Does RSM have branding guidelines that member firms must adopt? Yes. RSM has detailed communication guidelines for use by all full member firms. The RSM Communication Guidelines document provides member firms with the tools needed to create their RSM identity. The document gives detailed instruction and guidance on logo usage, stationery, material and publication design, advertising design (online and print), colours, fonts and imagery. The document also contains a section on corporate messaging and creating effective materials. There are also guidelines for digital use including website, PowerPoint, video and social media. All supporting materials are on the RSM Connect Sharepoint Microsite. The RSM Brand Book is a publication for RSM staff and explains the concept behind the RSM brand, our positioning and global visual identity. In addition, the RSM Way is a publication for staff that describes how we can build our brand through people and their experience with RSM. The book describes RSM s values and how we bring these to life through the way in which we work with each other and with clients.

10 How do member firms keep up to date with the activities within the network? RSM has a secure online intranet website for all employees of RSM member firms called RSM Connect. RSM staff can download internal materials, such as policy documents, technical information and training materials as well as RSM Eye the monthly newsletter for RSM staff. RSM Eye is a good source of information on what is happening in RSM around the world. RSM Connect also has an events calendar and a member firm database with facts, figures and service line capability information for each member firm. All internationally active personnel in member firms are highly encouraged to visit RSM Connect on a regular basis and keep their personal profiles up to date. As well as RSM Eye which is for all staff, the CEO sends monthly bulletins to Managing Partners about timely and important issues affecting the network. RSM also has social media accounts that staff can use to keep up to date on central activities, initiatives and news. These are Facebook, Twitter, Linkedin, YouTube and Pinterest. Search for RSM Global across these platforms. How do you build strong relationships between member firms? Having close and strong relationships between the partners in RSM member firms around the world is a crucial factor in enabling us to deliver exceptional client service. Building these close relationships has always been a top priority for the network. We hold annual conferences in all regions, as well as a three-day annual World Conference. Aside from this, the regional operating groups, CoE and other technical committees further encourage partners and internationally active staff to meet regularly to share best practices, develop an understanding of other cultures and build cross-border teams.

11 RSM World Day is a global initiative held annually in September/October with the aim of connecting staff in all member firms through a co-ordinated focus on RSM and its values. Firms arrange their own activities, including team building events, charity activities, staff get-togethers and client receptions. Member firms are provided with a global presentation about the network as well as other resources including a PR toolkit and advertising templates. Alongside RSM World Day, the EO runs digital marketing campaigns to engage staff around the world and encourage them to take part in international activities. These have included an online global photography competition, an interactive picture clue game Where on Earth!?, the RSM World Handshake, and The Power of Being Understood an internal site dedicated to launching RSM s new unified global brand and positioning. The Special Recognition Awards celebrate the best of the network s global talent annually at the RSM World Conference. The Awards are given to members of staff that have excelled in the fields of: client service, development of RSM, and commitment to driving international business, among others. What international business development initiatives are in place? In 2012, an international team began a multi-year project Connected For Growth with the aim of building the skills and tools needed for member firms to engage in cross-border business development strategies. As part of this initiative, the team, comprising of partners from member firms around the world, has developed pricing and scoping tools to enhance value to our clients whilst protecting member firms profitability. These include project management tools to aid client satisfaction, which in turn will enable us to grow revenues with those clients. Connected For Growth also includes a skills development programme providing high value training to create

12 Global Engagement Leaders (GELs) and Regional Engagement Leaders (RELs). GELs and RELs lead firms in tendering or proposing to clients and in winning profitable business. The overriding objective of the Connected for Growth project is to enable us to win more work, more profitably and more often. Does RSM sponsor any major programmes? RSM has partnered with the European Business Awards since it began nine years ago, helping to support and highlight business excellence across Europe. RSM is now the lead sponsor of the programme and as such benefits from a comprehensive European-wide PR programme, name and brand awareness, and significant business development opportunities with the companies who engage with the Awards programme. RSM in the US sponsors the RSM Classic - a major annual professional golf tournament held in the US every year. The RSM Classic is broadcast live on the Golf Channel reaching millions of people annually and over 200 guests join RSM on-site at the tournament each year. RSM also sponsors other international conferences annually including INSOL, IIA and the IFRS Foundation Conference. In addition, RSM member firms sponsor and associate with many high profile national events in their countries.

13 What professional training and support does RSM provide? RSM has a comprehensive programme of training activities and policies for CPD. Technical training includes extensive training materials for audit professionals, as well as other service line technical training. The EO also hosts a number of annual webcast training sessions. The RSM Academy is an annual week-long residential development programme for senior managers, directors and junior partners from member firms worldwide. Delegates at the RSM Academy attend to improve their international technical and managerial skills and to gain a thorough understanding of the objectives of RSM. The RSM ITAX Academy is a two-year programme for tax professionals. The programme includes two residential weeks (over two years), together with regular webcasts and extensive home study, and is led by members from the RSM Centre of Excellence for Tax in partnership with academics. The objective of the RSM ITAX Academy is to ensure that leaders in cross-border tax have the very best technical and client advisory skills. In addition to the ITAX Academy, RSM runs a Transfer Pricing Training programme. This training is dedicated to teaching and developing transfer pricing technical skills by way of practical workshops using comparable databases and software tools, and the key aspects of transfer pricing principles, methods and techniques. Delegates are expected to be proactive professionals with a background in either accounting, business administration, economics, or finance, and have had some exposure to international tax. How is RSM linked to the profession around the world? The International Federation of Accountants (IFAC) is the global organisation for the accountancy profession, dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. IFAC is comprised of over 175 members and associates in 130 countries and jurisdictions, representing approximately 2.8 million accountants in public practice, education, government service, industry and commerce. The Forum of Firms (FOF) is a forum run by IFAC of which RSM is a member. The FOF is an association of international networks of accounting firms that perform transnational audits. Members of the Forum have committed to adhere to and promote the consistent application of high quality audit practices worldwide, as detailed in the FOF Constitution. In September 2014, Bob Dohrer, RSM Global Leader for Quality and Risk, was appointed to serve a threeyear term on the International Auditing and Assurance Standards Board (IAASB). Bob was previously the Chairman of the IFAC Forum of Firms. RSM is also represented on the Transnational Auditors Committee by Susana Martínez Septién (Mexico). Around the RSM network, many professionals from member firms sit on various national regulatory bodies.

14 What are the RSM Referral Protocols? The RSM Referral Protocols assist member firms in managing international engagements in the most effective way. The protocols apply to all service lines and are designed to ensure that: The best possible people and resources in each country are assigned to an international client. Clients receive seamless service across borders. A client s needs are placed before that of a single partner, office or firm. There is constant communication between the teams in different countries serving a client. This results in details such as scoping, billing, time frame, deliverables and other important matters being agreed up front to improve the quality of the service provided. What is the Global Relationship Tracker? RSM member firms use a database system called the Global Relationship Tracker (GRT) to assist in the performance of independence and conflict of interest evaluation amongst member firms and their related entities. These evaluations are performed to comply with applicable international or national laws and regulations with regard to professional ethics and independence. The GRT includes the names of all public interest and private equity clients and all private clients with any international affiliations.

15 Do member firms have to report their inbound and outbound referral work to the EO? Yes. Reports are due each quarter and should be sent to the EO no later than one month after the end of each quarter. Measuring the value of the amount of work we do together is important in managing the network and therefore timely submission of these reports is vital. Referrals are reported in US dollars. The International Desk/ICP at each firm is responsible for this. Each International Desk/ICP should establish systems and procedures in the firm to ensure partners report all inbound and outbound work in order to facilitate complete and timely reporting. In 2015, RSM rolled out an online reporting system to all member firms.

16 RSM Global Executive Office 11 Old Jewry London EC2R 8DU United Kingdom T: E: rsm.global RSM is the brand used by a network of independent accounting and consulting firms, each of which practices in its own right. The network is not itself a separate legal entity of any description in any jurisdiction. The network is administered by RSM International Limited, a company registered in England and Wales (company number ) whose registered office is at 11 Old Jewry, London EC2R 8DU. The brand and trademark RSM and other intellectual property rights used by members of the network are owned by RSM International Association, an association governed by article 60 et seq of the Civil Code of Switzerland whose seat is in Zug. RSM International Association, 2015