BKR International Worldwide Bulletin
May/June 2022
Letter from the Worldwide Chair

Things are returning to normal, at least for most members. I certainly appreciate that, in some parts of the world, the pandemic is still having an effect on life. I hope that, as the year progresses, those still struggling with COVID see a return to normality. The situation in Ukraine still continues to be of great worry to stability in Europe. BKR International’s position is laid out on the website. By mutual agreement, membership of our Russian member firm, Intercom-Audit LLC (Moscow) is suspended until the situation in Eastern Europe is resolved. 

For the first time since COVID, our worldwide vice chair and treasurer, Marycris Oplas (Alas, Oplas & Co., CPAs, Manila) and our CEO, Tim Morris (London), have been able to visit the BKR Executive Office in New York to meet and update the executive team. Marycris did the biennial time sheet survey (something I was not able to do as treasurer thanks to COVID) and found that all is well in the office. I am not sure the below-freezing weather was what she was expecting! 

It is very sad to have to note the passing of a single BKR member, but to have to say goodbye to three really active former members is very sad indeed. The Americas Region has lost Tom Farrell (Mize CPAs Inc., Topeka), Buddy Metcalf (Metcalf Davis, Atlanta), and Sheldon Webster (Borland Benefield, Birmingham). All three were active members of BKR International, and we owe them all a great vote of thanks. At this time, our thoughts go to their families, friends, and former colleagues. More details are included in this issue. 

Farewells are due to Andre Buijsman (Flynth, Amersfoort) and Subir Dutta (Doshi Chatterjee Bagri & Co LLP, Kolkata), who finish their roles as chairs of the EMEA and Asia-Pacific Regional Boards. They have both been active participants on the Worldwide Board and have been very supportive to me, personally. I would like to thank them both. Whilst they will finish as regional chairs and on the Worldwide Board on June 30, 2022, they will remain on their respective regional boards as ex-officio members for an additional year. I look forward to seeing them both at the regional meetings in May and June. 

I am looking forward to attending the upcoming regional meetings and having the chance to see more of you in person. The Americas Regional Meeting is being hosted by Watkins Uiberall, PLLC in the iconic Peabody Hotel in Memphis from May 21-24, 2022. The Asia-Pacific and EMEA Regions are holding one of their regular joint meetings, this time in the InterContinental Athenaeum Hotel in Athens. Our host for the meeting, which takes place from June 10-13, 2022, is our Athens member firm, FRS PROTYPOS ELEGKTIKI A.E. Both have fantastic speakers lined up to give you a real insight into this year’s theme, "Your People, Your Future," which, after the pandemic, is a theme that will be useful for all members. 

For our North American members, I hope you have time to relax after tax season, and I look forward to our membership being able to get together in person at our regional meetings. As always, if there are any points you wish to raise, do not hesitate to contact me or our CEO, Tim Morris. 

Best regards,

Graeme Boake
Boake Incorporated 
Johannesburg, South Africa 
Plan Now for BKR's 2022 Regional Meetings!

It's time to start making plans for BKR's next round of annual regional meetings, currently scheduled as follows:
May 21-24, 2022
Americas Regional Meeting
The Peabody Memphis
Memphis, Tennessee, USA
Register here!
June 10-13, 2022
EMEA & Asia-Pacific Joint Regional Meeting
Athenaeum InterContinental Athens
Athens, Greece
Register here!
BKR International Member Firms Respond to the Ukraine Crisis

BKR International is an association of independent accountants, but it is also a family, which, in turn, means that we give help when asked, offer advice when needed, and, when we can all come together, we do just that.

The situation in Ukraine is unimaginable. Every day, the consequences for Ukrainians become more dire and more long-term. The effects of the current events will reach far into the future and will touch all of us. Right now, the effects are felt most by Ukrainians who are fleeing their country and by those trying to help them. 

The BKR family is not idle. There have been acts of kindness and action in at least three BKR member firms. 

Read more here.
IAB World Survey 2022 Feature Articles

The feature articles from International Accounting Bulletin's (IAB) World Survey 2022 issue are now available for download here.
BKR International Featured in The Manila Times

BKR International's Worldwide Board Meeting, which took place in Amsterdam on Monday, February 28, was covered by The Manila Times

Read the full article here.
Download the Newest Asia-Pacific Regional E-Newsletter

The January-March 2022 issue of BKR's Asia-Pacific Regional E-Newsletter is available to download here.
Read the Latest from BKR's EMEA Region

The March edition of BKR's EMEA Regional E-Update is available for download here.
BKR Holds BIG Meeting in Dublin

BKR's annual BIG Meeting was hosted by Member Firm Ormsby & Rhodes in Dublin on March 14. The subregional meeting proved to be a great success, with BKR's British, Irish, and Guernsey members gathering to share ideas and discuss strategies.
EMEA VAT Group Holds Virtual Meeting

BKR's EMEA VAT Group met online and discussed current VAT topics on March 8. They welcomed guest speakers from Fonoa, who presented their tax automation products and solutions from VAT ID validation to a tax engine. Many thanks to all who joined the meeting. The next VAT Group Meeting will take place on June 30 at 3:00 PM CET (UTC+1).

Download slides from BKR Member Firm Borioli Colombo & Partner Studio Associato Tributario e Societario (Milan), here.
Lindquist, von Husen & Joyce LLP (San Francisco) Announces New Partners

Lindquist, von Husen & Joyce LLP (LvHJ) is proud to announce that Crisanto Francisco, CPA, and Joe Huie, CPA, became partners of the firm effective January 1. 

“Our firm is extremely fortunate to have these talented professionals take leadership roles,” said Charlotte Tay, CPA, CGMA, who serves as LvHJ’s management committee chair. “Crisanto and Joe exude the energy, skills, and passion for client service our firm has come to embody. They are fully vested in our clients’ success, as well as to the growth of our firm and the not-for-profit and affordable housing industries. Their dynamic leadership skills and fresh ideas will help propel LvHJ successfully into the future.” 

Crisanto has more than 20 years of experience in public accounting. He entered the field, following in his father’s footsteps, to join the largest CPA firm in the Philippines. A member of the AICPA and the California State Society of CPAs, Crisanto’s areas of expertise include affordable housing developers, real estate partnerships, property management companies and other not-for-profit organizations, as well as tax-credit cost certifications.

Crisanto’s advancement to partnership is due in part to his significant contributions to improving the firm’s internal processes and procedures in order to enhance client service and audit efficiency. He is responsible for supervising and training audit staff and figuring out how everyone can work together productively.

Joe Huie has more than 30 years of experience in public accounting. A member of both the AICPA and the California State Society of CPAs, his areas of expertise include tax planning and compliance for not-for-profit organizations, closely held businesses, and high-net-worth individuals. Joe has worked with clients in various industries, including hospitality, manufacturing, and private clubs. 

Joe enjoys finding solutions to unique issues his clients deal with in both their personal and business situations. Working with LvHJ team members, he ensures clients are provided with insights and recommendations they need to make informed decisions. In his expanded role, Joe now has leadership responsibility as head of the firm’s tax department. 
Flynth Adviseurs & Accountants B.V. (Arnhem) Announces Acquisition of Accon avm 

Flynth Adviseurs & Accountants B.V., BKR's member firm in the Netherlands, has reached an agreement on the acquisition of all shares of Accon avm (80 million euros revenue, 800 employees). The agreement is subject to the approval of the Dutch competition authorities. Upon completion of the acquisition, the combined revenue of Flynth will be more than 220 million euros and 2,400 employees. Both organizations have offices throughout the Netherlands. Flynth and Accon avm are both in the Top 10 of the Dutch accounting and audit businesses. Flynth remains number six (after the Big 4 and BDO). Final closing is expected to be in Q2 2022. 

The announced acquisition is in accordance with Flynth's strategy and ambitions. Flynth intends to further expand its current services in accountancy, audit & assurance, tax, and advisory in order to remain the market leader and the trusted advisor for small and mid-sized companies. The increased scale supports Flynth's strategy to invest and gain market share in specific sectors and to invest in data driven technologies, digitalization, and robotization.

Flynth stated, "A shared future brings sustainable perspectives to our customers and employees. In this constantly changing digital world, together, we can find better solutions.”

Flynth Board Member Marcel Blöte emphasizes that this acquisition also contributes to a substantial growth of the firm's international services in audit, tax, and advisory.
B&C Legal and Compliance (Milan) and GCA Avvocati Together in a New Professional Reality

B&C Legal and Compliance and GCA Avvocati join forces to consolidate their professional experiences.

B&C Legal and Compliance is a multipractice law firm with offices in Milan, active for more than 30 years mainly in assisting companies with reference to commercial matters, M&A, corporate, IP, processing of personal data, and labor law. The presence among the shareholders of chartered accountants with consolidated experience in the areas of international taxation, M&A, and compliance, as well as the multi-year partnership with B&C Tax, a firm operating in the field of tax and corporate consultancy, significantly integrates the offer of professional services of the firm.

GCA Avvocati has offices in Milan and Rome, and is a leading boutique in civil, commercial, and credit matters and assists, in the out-of-court and judicial areas, banks, leasing companies, factoring companies, securitization companies, and servicing platforms. It has specific experience in the sector of business crisis, bankruptcy and restructuring procedures, and real estate transactions.

Following the merger, B&C Legal will be able to count on over 25 professionals and, through the partnership with B&C Tax, offer its clients the support of over 60 consultants including lawyers, accountants, labor consultants, and experts in business matters. The integration will allow both firms to strengthen their M&A and Banking & Finance practices, and will also favor the development of foreign operations.

“The union with GCA Avvocati fits perfectly into our growth project, which has already begun with the entry into the partnership of the firm of Maria Adele De Luca, a former partner of FDL Studio Legale, and her team,” says Lawyer Francesco Bonaccorsi, founding member and managing partner of B&C Legal and Compliance, “And we are particularly glad and honored to have been able to start this collaboration with Giancarlo and his firm, which represents a landmark in the banking area at a national level.”

“We are enthusiastic about this union,” adds lawyer Giancarlo Catavello, founder of GCA Avvocati, “Which will allow us to take advantage of new areas of expertise to guarantee our clients an increasingly complete, specialized, and diversified assistance”.

“The operation," concludes Dr. Angelo Colombo, managing partner of B&C Tax, “Was made possible by the sharing of the same values ​​– both on a human and professional level – an essential premise for developing a strategic project that is part of the internalization of integrated services distinguished by the same brand.”
Former PwC Dealmaker Joins UNW's Corporate Practice

Newcastle upon Tyne-based member firm, UNW LLP, has announced the appointment of former PwC dealmaker Paul Mankin as corporate finance partner to oversee its corporate finance advisory team.

A multi award winner and former Insider North East Dealmaker of the Year, Paul brings more than three decades of experience to the role, which will see him chair the firm’s corporate finance business, helping to guide and build the team, and further strengthen its position in the marketplace.

Paul left PwC in December 2020 as corporate finance partner responsible for the North East and Yorkshire after enjoying a highly successful 38 years at the firm, during which he advised on a number of high-profile deals, including the sale of Aesica Pharmaceuticals to Consort Medical plc and the disposal of Anson Limited to National Oilwell Varco Inc.

During his career, Paul has built a strong reputation for advising clients on a range of corporate finance matters, including acquisitions and disposals, finance raising, valuations, and strategic reviews. Whilst his clients have primarily been privately owned, Paul has also worked extensively with the private equity community, listed companies, and the public sector.

UNW’s Corporate Finance team has a significant track record both in the North East and nationally. Over the last two years, the UNW team has completed more than a dozen mergers and acquisitions advisory mandates across a range of sectors, in addition to its market leading work on government grants and disposals in the dental sector.

Speaking of his motivations for joining the firm, Paul said, “UNW has a very strong brand that is differentiated locally, with an exceptional track record of going above and beyond for its clients, and supporting the development of its people. The strength in depth of our corporate finance team means we have the capability to advise a broad and varied client base, and I’m looking forward to playing my part in its continued success by supporting the existing team and by recruiting further talent at all levels.”

UNW Managing Partner Andrew Wilson said, “We are delighted that Paul has decided to join us having seen the fantastic opportunity that exists at UNW. His wealth of experience really is second to none, and Paul’s appointment is another indication of our continued commitment to building the best corporate finance business in the region. Paul is a well-respected figure in the North East, and has a phenomenal track record of growing teams and developing talent, and we can’t wait for him to get started at UNW.”
Hall, Kistler & Company LLP (Canton) Interviewed by Ohio Society of CPAs

Hall, Kistler & Company LLP was interviewed by the Ohio Society of CPAs regarding their hybrid working model.

Read the full article here.
Accounting Today Covers Eric Mulchaey (Columbus) Appointment to Americas Regional Board

Accounting Today has covered BKR's appointment of new Americas Regional Board Member Eric Mulchaey (Columbus) for three two-year terms. 

Read the piece here under the Ohio section.
UNW LLP (Newcastle upon Tyne) Releases Commentary on the UK Spring Statement 2022

BKR Member Firm UNW LLP has released commentary on the UK Spring Statement, which took place on Wednesday, March 23, 2022.

Chancellor Rishi Sunak made his first Spring Statement (as opposed to a full Budget) against a backdrop of rising inflation (partly driven by the war in Ukraine).

In the Government’s fiscal timetable, the Spring Statement is intended to be just an economic update and response to the latest forecasts from the Office for Budget Responsibility, but circumstances forced him to upgrade it to a mini Budget.

In his Spring Statement, the Chancellor, therefore, announced a limited number of tax measures. Most tax changes taking effect from April 2022 had already been announced and are unaffected, so the summary below covers all key upcoming tax changes whenever first announced. (It does not cover all details of all measures, and proposals may change before enactment, so you should contact them before taking any action based on this summary.)

Although the Chancellor announced a number of headline-grabbing measures, his statement was also notable for its omissions: no changes to previous announcements on public spending (which as these are set in cash terms will be squeezed by inflation – perhaps there will be something in the Autumn full Budget), very little on Green measures or levelling up, and no help for those on benefits – many commentators were left distinctly underwhelmed as to help for the cost of living crisis. And while he announced a Tax Plan, there were few concrete measures to support and incentivise business now.

The respected Institute for Fiscal Studies described Sunak as a ‘fiscal illusionist’ – he says he wants to cut taxes, but even after yesterday’s changes, the overall tax burden will rise to its highest for many years, partly as a result of fiscal drag (many tax allowances are currently frozen in cash terms for several years, so are quickly eroded when inflation is high). Perhaps some of the increases will later be reversed, as and when public finances permit (and we approach the next general election).

Download the summary here.
Doshi Chatterjee Bagri & Co LLP (Kolkata) Produces Synopsis of India's Most Favoured Nation Clause

Recently, the Indian Government clarified the Most Favoured Nation (MFN) clause in India’s Agreements for Avoidance of Double Taxation (AsADT) with certain countries. Such clarification was issued because of unilateral decree/bulletin/publication issued by the Netherlands, France, and Switzerland. By such unilateral decree, etc., the tax rate under their respective AsADT was reduced to 5%.
The Indian Government has taken exception to such unilateral decree/bulletin/publication and not accepted the same.
BKR Member Firm Doshi Chatterjee Bagri & Co LLP has produced a synopsis of the clarifications issued by the Indian Government.
The clarification issued by the government will for now affect the investors from the Netherlands, France, and Switzerland.

Download the synopsis here.
In Remembrance of Our Long-Time BKR Friends
Sheldon B. Webster
It is with a heavy heart that we share the passing of friend, supporter, and founding member, Sheldon B. Webster. Sheldon started his own firm, which later merged with Borland Benefield, Alabama’s oldest accounting firm. He was instrumental in the formation of BKR International. Sheldon served as chair of BKR's Americas Regional Board and was elected as BKR's Worldwide Chair in 2002.

Arthur "Buddy" Metcalf II
It is with great sadness that we announce the passing of our long-time friend and former member, Arthur "Buddy" Metcalf. Buddy was a member of BKR International for more than 30 years. He served as chair of BKR's Americas Regional Board and also as a member of BKR's Worldwide Board.

Thomas B. Farrell
BKR regrets to announce that Thomas Bernard Farrell, 78, of Cleveland, Missouri, and partner at Member Firm Mize CPAs Inc. (Topeka), passed away peacefully on March 20, 2022. In the early 80s, he merged his accounting firm with Mize CPAs in Overland Park, Kansas, where he was a tax partner for 40 years. He loved helping clients and became life-long friends with many of them.

Registration Is Now Open for the World Congress of Accountants 2022

The Institute of Chartered Accountants of India (ICAI) is excited to host the 21st World Congress of Accountants 2022, November 18-21, 2022, at Jio World Centre in Mumbai, India. The event will be held in person and virtually.

For more information and to register, click here.
Submissions for the July/August 2022 issue of the BKR International Worldwide Bulletin are due by Wednesday, June 8, 2022.
Volume 44 | Number 3