As I shared in Part 1 of this regional update, the Allinial Global EMEIA region is in an excellent position to build upon record growth and commerce. From new possibilities in ESG and sustainability to exciting developments in governance and association events, we have many opportunities to grow and win together.
ESG & Sustainability Developments
Last month the ISSB, a sister organization of the IFRS Foundation, released its new S1 and S2 standards. Aimed at developing a baseline for sustainability and climate disclosures and simplifying the so-called ‘alphabet soup’ of ESG, the new assurance standards create a wealth of new opportunities that will enable consistent ESG audits.
With a growing list of frameworks and standards such as Integrated Reporting Framework, SASB Standards, and World Economic Forum metrics, the ESG and sustainability space is notoriously complex. However, Allinial Global offers some fantastic resources for EMEIA members looking to stay ahead of the curve and seize new opportunities that will arise as businesses adapt to evolving reporting requirements. Below are just a few examples.
- The Allinial Global German-speaking group, also known as DACH, has been working toward a unified approach to addressing the ESG needs of German-speaking clients at their most recent Q2 meeting at the EMEIA Regional Conference.
- Our Global ESG Community on AGConnect is a great resource to get up to date on the latest developments and find out how other members are advising clients facing nonfinancial risks.
- Allinial Global continues to offer ESG-focused sessions and insights at regional and global events, as well as an ESG whitepaper created specifically for AG members and their clients.
EMEIA Governance & Strategy
Behind the scenes, our EMEIA regional governance bodies play a significant role in ensuring that members’ views and feedback are incorporated into the association’s strategy. Recent developments in our EMEIA Regional Board and related committees are helping us drive better decisions and achieve higher results.
- We welcomed Jennifer Reddy, CEO of Morar Incorporated representing the South African market, to the EMEIA Regional Board. As the board’s first female member, she joins eight fellow members from various jurisdictions and technical backgrounds.
- Our EMEIA Regional Board is seeking to appoint two new candidates in 2024, as both Adam Wilson, Regional Managing Partner of Azets, and Massimo Di Terlizzi, Co-Managing Partner of Pirola Pennuto Zei & Associati, have reached the required term. We thank them both for their years of service representing Allinial Global across external platforms to help us maximize our visibility. Adam Wilson has served as both a member and chair on the EMEIA Regional Board since 2016.
- At the start of 2023, Kerstin Weidenback-Koschnike, Senior Managing Partner at ACCONSIS, took over as Chair of the Nominations Committee, which has a total of seven members that evaluate candidates seeking to serve on our regional board.
- Another vital committee that advises the EMEIA Board is the Membership Committee chaired by Jacques De Nuce, Partner at Walter France. Last month, Zaki Al Khatary, Partner of Hajar & Co. Certified Accountants based in Yemen, joined alongside five other members to evaluate applications from firms seeking Allinial Global membership.
- For those interested in the nominations process for the EMEIA Regional Board, all eligible candidates should submit their interest by 25 August 2023. In close collaboration with the Nominations Committee, the board will finalize appointments in Q4 and announce new members before year-end.
2023 EMEIA Regional Conference – Vienna, Austria
In June Allinial Global held its seventh EMEIA conference in the heart of Austria’s capital city, Vienna. It was a memorable experience for all involved, providing plenty of stimulating discussion on topics around strategy, tax, corporate finance, accounting, and niche service areas filled with opportunities to support growing clients.
The opening session set the tone with a look at how firms are currently dealing with an ever-changing world by working across jurisdictions and regions; Winning Together resonated with members, who want to collaborate more and seek insights and inspiration from the speakers and sessions. There were also four external speakers discussing topics such as neuroscience in the workplace, the economic outlook, ESG, and tax technology best practices. The three-day conference (including the Global Tax Conference) featured five networking activities and two group dinners. as well as a Viennese Gala Dinner, which allowed members to connect at the Palais Ferstel, an unforgettable evening, and visits to tourist sites such as St. Stephen’s Cathedral and Schönbrunn Palace.
Here’s a high-level summary of the conference:
- A record turnout of 184 onsite attendees at the conference resulted in a net increase of 30% in attendance from the previous conference in Madrid
- 66 firms from members in EMEIA, Americas, and Asia Pacific
- 42 countries in one single conference
- The EMEIA Tax Conference held four breakout sessions on Global Mobility/Private Clients, Transfer Pricing, Corporate Tax, and Indirect Tax
- We achieved an evaluation score of 4.4 out of 5 through a survey conducted soon after the event
- Donations were raised for the Austrian Special Olympics Foundation
The regional conference concluded with the EMEIA regional strategy and outlook presented by Mark Koziel, CEO and President of Allinial Global, alongside EMEIA Chair Christoph Velut and Vice Chair Jérôme Rüfenacht as our association prepares to roll out its 2024–2026 strategic plans.
What’s Next
During the past six months the business environment has experienced a period of turbulence and volatility, characterized by economic challenges that have affected the market appetite for growth. The greatest hurdle has been navigating the perilous road ahead without losing sight of our long-term goals as the trusted advisor of choice to our international clients.
With the right perspective, I believe that this short-term headwind for global markets could be an opportunity for many advisors in the community to play a vital role in helping clients capture value at a discount in undervalued sectors and regions. Over the last half-year, the collective strength of Allinial Global member firms has enabled us to find unique solutions in a rapidly changing business environment to achieve growth evident through fee incomes of our membership. I look forward to finding even more ways to win together in the future.
