A few months ago, BDO International released the results of our BDO Ambition Survey 2012. The survey of 1,050 CFOs from 14 countries revealed that in 2012, CFOs all over the world are finding it more difficult to conduct business abroad — certainly compared with three years ago. They cite the poor economic situation, increased regulations and greater competition as the main reasons for this. Furthermore, approaching new markets with more caution means that the need for good local staff has come to the fore: almost half of the CFOs we spoke to cite the need to secure good advice from reliable people on the ground as a major insight for successful international expansion. When CFOs were asked who their most trusted sources of advice were when expanding into new territories overseas: accountants and tax advisers topped their list. This is echoed in another survey by a business software provider in the UK, in which half of the 1000 respondents think that accountants provided the most valuable business advice while 44% turn to accountants first for business advice, compared to 21% who search the internet and 18% who called on business groups and industry associations. | |  | | | Dato' Gan Ah Tee DNS, JP
Managing Partner
BDO in Malaysia |
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And this is where BDO comes in: our 1,204 offices in 138 countries worldwide have the local knowledge and expertise to help our clients respond to challenges in today’s business environment. Hence, whether you are planning to take your first steps towards international expansion in the coming year or are a seasoned investor, you can count on us to provide you with strong local knowledge and on-the-ground connections backed up by global standards. Cognisant of how important the ASEAN region is to our clients, BDO Malaysia has forged a strategic alliance with BDO Vietnam to offer a full range of Audit, Advisory and Tax services from offices in Hanoi and Ho Chi Minh City. Our team in Vietnam has been strengthened with more than 150 partners and staff from a number of Vietnam firms, including the PKF member firm in Hanoi, agreeing to form the new BDO member firm in Vietnam on 1 October 2012. My fellow partner, Mok Chew Yin, is currently the Acting General Director and Managing Director of BDO Vietnam. To the same end, we have also set up BDO Consulting in Brunei and Myanmar. Plans are underway to enlarge our breadth and depth of service offerings in these countries. Together with our existing firm in Cambodia as well as our four offices in Malaysia, and working together with other BDO member firms in Singapore, Thailand, Indonesia and Philippines, we are here to serve you as a one-stop centre providing seamless services in the region. Here’s wishing you a new year of continued growth and success. |
