Tell me about a time when you received the best service from an accounting firm.
What made it the best? How did it make you feel?
We requested advice on a transfer-pricing issue we were facing from a Second-Tier firm who, at the time, weren’t our advisers.
As most accountants would know, transfer pricing can be a complex area of business. Within our company, we faced the difficult task of convincing the senior stakeholders that we needed to do some exploratory work in this area.
The accounting firm in question came into our offices to meet with us and they were fantastic. They gave presentations to the various stakeholders, answered all the questions put to them and ended up winning support from all the key decision-makers and influencers. They really got the in-house accounting team involved and educated them to the point that everyone in the team was fully briefed and comfortable with the relevant transfer-pricing concepts and processes. The project deliverables were all met within the assigned timeframe and the outcome was exactly what we wanted. A truly wonderful service. It makes the job of a CFO that much easier!
In terms of why the service was so good … I think it came down to the fact that they (ie the accounting firm) understood and appreciated the internal dynamics in the business. They also took the time to really understand how our business works in each country in which we operate. It’s quite a complex exercise in itself and that was probably the best part – that they really tried to understand our business and make sure that all their findings were documented. They went back and forth with us and asked lots of questions to ensure that their understanding was correct because it’s critical in the area of transfer pricing that all relevant entities and transactions are fully tracked and understood.
I was so impressed by their service and commitment to us that I would recommend them to anyone. It made me very happy, to say the least! Needless to say, at the right time we subsequently appointed this firm as our accountants.
Until next time,