China members meet up with Mackrell
After the successful call between MGI Worldwide, CPAAI & MI members in India, Audrey Danasamy, Asia Regional Director together with Sandeep Peters Mackrell International Asia Pacific Business Development Coordinator decided to replicate the call for members in the Greater China region. This was the first time all the member firms in China, Hong Kong, Taiwan and Macau were met together, including their respective managers. “The virtual introduction of each of the firms and their key contacts was significant in itself,” said Audrey.
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On keeping up firm moral!
There are lots of fun ways to keep your staff and team upbeat in these uncertain times. At BPO AUDIT TAX in Hungary, the HR department organised a Friday Quiz to keep morale high and everyone in their firm connected. Questions included: “Which organization merged with MGI last October?” and “Who is the CEO of MGI Worldwide?” Congratulations to the winner, Alexadra Nagy who received home delivery Pizza as the firm is still #workingfromhome.
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On Business, COVID-19 and GST implications
As the coronavirus pandemic disrupts trade at a local and global level, India-based C. R. Sharedalal share a detailed paper they have produced for their clients outlining implications for GST in India. SEE THE FULL PAPER HERE.
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On building a Business Resilience plan
The hospitality industry, in particular, is expected to experience a long term negative impact from the COVID19 pandemic, and MGI Vision of Oman have produced a paper setting out a list of suggested actions aimed at mitigating the various risks by building a Business Resilience Plan (BRP). READ THE FULL PAPER HERE.
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As the Middle East faces COVID-19 and the oil crash
MGI Vision of Oman shares flyers produced to help clients manage their cash flow through the double blow of COVID-19 and the collapse of oil prices in the region, and marketing their own services. Read MGI Vision's flyers about MANAGING CASH FLOW HERE and about their ACCOUNTING SERVICES HERE.
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A "silver lining from the Covid19 cloud."
Nancy Damato, Marketing Director for North America says, "It was wonderful to gather Canadian-based member firms of MGI Worldwide with CPAAI and Mackrell International on a web call! MGI and Mackrell have enjoyed many years of partnering and collaborating, and now more than ever, it is essential to have strong relationships and friendships. We look forward to continuing our conversations, enhancing our relationships, and exploring opportunities to collaborate.
Keith Heddle, Managing Director at Mackrell International adds, "From my perspective, it was really good to see a great bunch of people across Canada, from West to East, getting on famously and finding commonalities of experience, of purpose and of opportunity for clients – both now and for the future. It’s great to be cooperating like this – a definite silver lining from the Covid19 cloud."
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On the effects of COVID-19 on accounting
Ricardo Ruiz, Partner at MGI LT Accountant & Asociados Asesores y Auditores, Dominican Republic presents a short article discussing the effects of the global coronavirus pandemic on global markets and the ramifications these could have in the world of accounting. READ THE FULL ARTICLE HERE.
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Dealing with business valuations and divorce during the pandemic
MGI Worldwide with CPAAAI Co-Chair and leading UK forensic accountant from Milsted Langdon, Roger Isaacs, presents a short video in which he considers how divorce lawyers should deal with the valuation of family businesses during the Covid-19 pandemic, when many of those businesses have effectively been “mothballed”. He considers the pros and cons of pressing ahead with valuations now compared with waiting for a time of less economic uncertainty, bearing in mind the fact that divorcing clients will want to avoid being left in limbo and will bee keen to finalise their financial separation. WATCH FULL VIDEO HERE.
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On OECD Guidance to Tax Issues Created by the COVID-19 Crisis
As the COVID-19 pandemic has resulted in lockdown in the majority of the countries, people are stranded in countries where they are not residents. This has resulted in Tax issues impacting the right to Tax between countries. OECD has given guidance on the subject and Amit Chopra from Gopal Chopra & Associates, India gives a brief summary. READ FULL PAPER HERE.
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On regions 'getting together'
As members around the world adapt to the new reality of working from home and dealing with the effects of the coronavirus pandemic, many have reached out to fellow MGI Worldwide and CPAAI network and association members as a means of support.
Andrea Pallas, MGI Latin America Regional Director says: "Members of MGI Worldwide with CPAAI in Latin America met via ZOOM to discuss and share experiences related to COVID-19 within Audit activity. We had a very interesting meeting with 49 participants!"
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On meeting up with sister law network
Audrey Danasamy, Asia Regional Director together with Sandeep Peters Mackrell International Asia Pacific Business Development Coordinator for our sister law network Mackrell International, set up a zoom call amongst their India firms. The objective of the call, apart from introducing the members to each other, was to provide a platform for members to share and discuss legal and financial issues due to the current pandemic and how they are managing their firms in the present situation. “It was a good call”, said Sandeep “and meeting the new members from CPAAI was beneficial.” READ MORE HERE
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On hosting a successful webinar discussing recent C-19 legislation
Tom Neff, Managing Partner at RINA, USA, commented, “I think the webinar went very well and that’s the general tone of the feedback I’ve received. Around 200 people connected to the webinar and we got 5 new clients as a result, which I’m happy with. We will be doing a follow up soon as the laws are changing so fast here; we have a lot to add after only 1 week.” WATCH WEBINAR HERE.
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On engagement from the top down
Stuart Hendler, Managing Partner at MGI Bass Gordon, South Africa says: "We have over 100 staff and we can’t get to them daily while we work remotely and so each week I send out a personal video message via YouTube and WhatsApp. Firm member Nicole Stopforth says: "The last video message was so well received by staff and had them all in stitches. Everyone enjoyed seeing our Managing Partner, Stuart’s personal video message. When the buy-in comes from the top, the staff are more eager to also show engagement." WATCH STUART'S VIDEO HERE.
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On motivating junior staff
Joanna Żmuda–Trzebiatowska from Arena Tax, Poland says: “Keeping in touch with our younger generation staff is important for motivation, something daily they have as part of their routine, even if only for 10 minutes - this is working well. We encourage them to come into the office if they don’t come on public transport, even if it's for one day a week.”
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On the potential for more international business
Rachel Pugh from Seymour Taylor, UK says: “Something positive that we can take away from this experience could be more international business. We’ve all learnt to use the technology and know now that we can do this face-to-face.”
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On establishing routine and keeping in touch
Nini de Freitas from MGI Bass Gordon, South Africa says: "Encouraging staff to ‘get dressed for work’, make a point of packing away work things at the end of the day, and making sure mentors and mentees are keeping contact all helps. We also use Microsoft teams to keep in touch."
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On seeing this time as an opportunity rather than adversity
Amit Chopra from Gopal Chopra & Associates, India has published his thoughts and ideas on the present coronavirus crisis and the ways in which we can learn valuable lessons from this experience. He says: "It is indeed a time for self-discovery. It is time to get into maintenance on the physical, professional and spiritual front. The need of the hour is to look positively at the future and consider this time as an opportunity rather than adversity." READ FULL PAPER HERE.
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Virtual meeting for Middle East & North Africa region
Audrey Danasay, Regional Director for MGI Middle East & North Africa says: "MGI MENA region held a zoom call on 8 April and although it was only a small gathering, the discussion was very fruitful. It was good to have the attendance of Kais CPAAI member from Tunisia."
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On MGI's webinars and weekly 'drop-in' zoom calls
Karin Monchak from MGI Assurance Auditores Independentes S.S., Curitiba, Brazil, says: "I want to thank all at MGI with CPAAI for your initiative and your loving care for the members of the network through these webinars. I hope more and more colleagues will participate! Actions like these confirm and identify our MGI community. After all this is over, (hopefully very soon), I hope that we will be able to hold on to the good things we have learned from this - certainly, these experiences will be among them. Thank you"
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On using technology for better engagement
Abe Petersen from MGI Bass Gordon, South Africa says: "We started using Microsoft Teams for chats, video calls and setting up meetings besides other things. We were not using this extensively before the pandemic but it works well to keep us connected and working collaboratively.”
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On mindfulness, meditation and yoga for staff
Anuj Sharedalal, from C.R. Sharedalal & Co., Ahmedabad, India, says: "We are having daily meetings over zoom to ask about safety and well being of the team and family members. We are encouraging our team to practice yoga and meditation in the morning and we have organised a yoga session where we invite a local yoga instructor to be part of our zoom call to lead the session."
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On interacting with Clients
Sharon Gregor from Selden Fox, Ltd., Chicago, Illinois, US says, "I have arranged two Client luncheons over video call recently which means we get to talk about more things outside of work and it really helps with staying connected and keeping in touch with our Clients."
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On supporting staff while working remotely
Sarah Jenkins from Milsted Langdon LLP, Bristol, UK says: "We have arranged for everyone's office chair to be sent to their home so we can all work comfortably. We also have an advent calendar with a positive quote of the day to help lift everyone's mood while we work remotely."
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On connecting with people while working remotely
Karin Monchak from MGI Assurance Auditores Independentes S.S., Curitiba, Brazil, says: "I try to keep it fun with daily coffee meetings over web call which is important for us to see each other and keep the visual connection. I also reach out regularly and check in with staff on messenger adding some humour to keep up the positivity.
"I wanted to share with all our members a picture of our firm's Skype meeting this week. It wasn't a business meeting, just a chat to share experiences, have a bit of a laugh and bring some lightness and joy to these difficult days. This week we brought along the mascots of our favourite football teams. We continue together, firm and strengthening one another."
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On #workingfromhome
As firms around the world take to #workingfromhome it has been great to see RINA Accountants & Advisors sharing the positives from their new home offices on their LinkedIn and Facebook feeds. Fun to see them meeting together online and showing that life goes on, despite the upheaval. Please share you’re your #workingfromhome and #collaboration stories and tag @Emma Rowley so we can pass them on!
#globalcommunity #togetherness #strongtogether #globalnetwork #friends #stayathome
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On the value using the network to support your clients
László Killik, from BPO AUDIT TAX in Budapest, Hungary, arranged a live webinar hosted for Clients and bringing together MGI Worldwide and CPAAI partners from Italy to talk about the impact of Coronavirus on business. “We all agreed that it was a great chat and many of my Clients attended. The experience was very positive for everyone and we would recommend having more European and Worldwide discussions like this."
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On the value of being part of a network
Abe Petersen from MGI Bass Gordon, South Africa says: "It was good to hear from MGI Worldwide - thank you so much for the kind words expressed and for the publication of our Tax Guide. We appreciate your efforts during these trying times, it is certainly turning out to be more like “business unusual” as opposed to as usual. Bearing all in mind we will continue to focus on delivering the best service we can to our clients and are comforted by the fact that worldwide, all within the MGI with CPPAI family will be doing the same."
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