RPGCC announces the appointment of Adam Thompson as Private Client Tax Partner, alongside the promotion of Anand Chandarana to Corporate Tax Partner.

RPGCC Tax Advisory Services

These strategic moves reflect RPGCC’s continued investment in delivering high-quality, specialist tax advice and strengthening our comprehensive client offering across both private and corporate sectors.

Adam brings nearly twenty years of experience in the tax field, having worked in a variety of environments including boutique tax advisory firms, large regional accountancy practices, and international wealth management firms. His expertise spans private client tax strategy, estate and trust planning, and cross-border issues, making him a valuable addition to RPGCC’s growing Private Client Services team.

Anand, who has been with RPGCC since 2024, has played a key role in supporting a diverse portfolio of corporate clients. His promotion to Partner reflects his deep technical knowledge, client-focused mindset, and leadership in delivering complex corporate tax solutions across a range of industries.

Together, Adam and Anand bring complementary strengths that will allow RPGCC to further enhance its tailored tax advisory services and deepen relationships with both individual and business clients.

RPGCC Leadership

Paul Randall, London Managing Partner at RPGCC, comments, “We’re delighted to welcome Adam to the firm and to recognise Anand’s outstanding contributions with this well-deserved promotion. These appointments mark an exciting step forward as we continue to strengthen our tax leadership and provide an even more robust, holistic service to our clients. Both Adam and Anand bring exceptional expertise, and we’re confident they will play a pivotal role in driving our growth strategy forward.”

As RPGCC continues to evolve its tax offering, these leadership developments highlight the firm’s commitment to nurturing talent and meeting the increasingly sophisticated needs of its clients.

For inquiries, please contact:
Kay Merryman, Head of Marketing, RPGCC, 40 Gracechurch Street, London, EC3V 0BT – kmerryman@rpgcc.co.uk

The post Press Release: RPGCC Expands Leadership with Two Key Tax Partner Appointments appeared first on AGN International.

Taylor Adams, CPA, has been promoted to Audit Senior Manager at our Gainesville office. Taylor joined the firm in 2021 and earned her Master of Accountancy and Bachelor of Science in Business Administration from Auburn University.

Chantelle Davis has been promoted to ACS Manager at our Gainesville location. A member of the firm since 2021, she holds a Master of Accounting from Florida Atlantic University and a Bachelor of Science in Accounting from Santa Fe College.

Andrew Ferguson, CPA, has been promoted to Audit Senior Manager at our Tallahassee office. He began his James Moore career in 2018 and received his Bachelor of Science in Accounting from Florida State University.

Curtis (CJ) Leonard, CPA, has been promoted to ACS Senior Manager at our Tallahassee office. CJ has been with the firm since 2013. He holds a Bachelor of Science in Accounting from Flagler College and a Bachelor of Science in Finance from Florida State University.

Logan Nix has been promoted to Audit Manager and is based in our Tallahassee office. A member of the firm since 2020, he earned a Bachelor of Science in Accounting from Flagler College.

Bryant Rafferty, has been promoted to Audit Senior Manager at our Gainesville office. Bryant joined James Moore in 2019. He holds a Bachelor of Science in Accounting from the University of Florida.

Jennifer Shafer Pendarvis has been promoted to ACS Senior Manager. She joined the firm in 2020 and is based in our Tallahassee office. Jennifer received her Master of Business Administration from Nova Southeastern University and a Bachelor of Science, Health and Exercise Science from Oral Roberts University.

Beth West, CPA, has been promoted to Audit Manager in our Gainesville office. Beth has been with the firm since 2023. She earned a Master of Accounting and a Bachelor of Arts in Accounting from the University of Northern Iowa.

James Moore, founded in 1964, is a consulting firm that helps organizations across the United States meet their operational and financial goals. The firm offers tax, auditing and accounting and controllership services to its clients, along with comprehensive support in human resources, technology, digital solutions and wealth management. James Moore’s team is comprised of seasoned professionals with decades of experience in their respective fields. The firm serves industry leaders in construction, healthcare, higher education and collegiate athletics, manufacturing, state and local government, non-profit and real estate sectors. Learn more at www.jmco.com.

CONTACT:

Stacy Dreher
Chief Growth Officer
5931 NW 1st Place
Gainesville, FL 32607
(352) 378-1331
Stacy.Dreher@jmco.com

The post James Moore Announces Promotions at All Offices appeared first on AGN International.

On 11 July 2025, the Federal Council approved the law for an immediate tax investment programme to strengthen Germany as a business location.

– What do these changes mean for your clients operating in or with Germany?
– How can you help them stay compliant and seize new opportunities?
– What are the implications for internationally active businesses across EMEA?

The tax changes are intended to stimulate investment that will ensure a sustainable, growth-promoting environment and planning security for companies in Germany. The tax law changes also affect annual financial statements under commercial law and financial statements prepared in accordance with IFRS accounting standards with regard to deferred taxes.

The following measures, amongst others, were decided upon:

1. Reduction of the Corporate Tax Rate

The current tax rate of 15% will continue to apply until the end of 2027. From 2028, it will be reduced by 1% annually until it reaches 10% in 2032.

In addition to corporate tax a solidarity surcharge and a trade tax should also be paid. Trade tax is levied by the municipality in which the company has its place of business. Trade tax amounts to approximately 15%, depending on the location of the place of business. Existing deferred taxes must be revalued. Due to the gradual reduction, different tax rates must generally be applied, depending on the reversal date.

2. Reintroduction and Increase of Declining Balance Depreciation for Movable Fixed Assets – “Investment Booster”

Declining balance depreciation can be used instead of straight-line depreciation for movable fixed assets acquired or manufactured after 30 June 2025 and before 1 January 2028. The percentage to be applied may not exceed three times the percentage applicable to straight-line depreciation and may not exceed 30%.

3. Extension and Increase of the Research Allowance

The main change is the introduction of a flat-rate surcharge of 20% for the overhead and other operating costs on the assessment basis. The surcharge applies to research and development projects that start after 31 December 2025.

Furthermore, for eligible expenses incurred after 31 December 2025, the maximum assessment basis for the research allowance will increase from EUR 10 million to EUR 12 million per year. This results in a maximum research allowance of EUR 3 million per year. By raising the maximum assessment basis in conjunction with a 10% bonus, small and medium-sized enterprises will theoretically be able to apply for up to EUR 4.2 million research allowance per year in future. This applies to companies that employ fewer than 250 people and either have an annual turnover of no more than EUR 50 million or whose annual balance sheet total does not exceed EUR 43 million.

Moreover, the eligible value of hours worked for own contributions will increase from EUR 70 to EUR 100 per proven hours worked.

4. Introduction of a so called Turbo-Depreciation Allowance for Newly Purchased Electric Vehicles

The purchase of a new fully electric vehicle is to become more attractive to companies from a tax perspective. In the year of purchase, 75% of the acquisition costs can now be written off. In the following year, a further 10% can be deducted; in the second and third subsequent years 5% each, in the fourth subsequent year 3% and in the fifth subsequent year 2%. The regulation applies to the purchase of an electric vehicle in the period from July 2025 to December 2027.

Brought to you by the AGN EMEA Tax Committee

If you have any questions in relation to this article, please get in touch with Christine.

Christine Ries
Tax Consultant
Wirtschaftstreuhand Group

Email: christine.ries@wirtschaftstreuhand.de

The post Germany Launches Major Tax Investment Programme to Attract Business Growth appeared first on AGN International.

The term “audit” for many businesses brings to mind regulatory scrutiny, along with compliance requirements and administrative challenges. However, this view misses a crucial point. A properly conducted audit represents more than a mere regulatory requirement because it serves as a strategic instrument that reveals operational weaknesses while enhancing control systems and detecting potential areas for business expansion.

Audits become effective tools for business enhancement when conducted by knowledgeable professionals with a clear purpose, as they reveal both operational and financial aspects, which lead to better performance and sustained success.

Beyond Compliance: The True Value of an Audit

Audits are primarily driven by financial reporting obligations and regulatory standards, yet they consistently yield numerous hidden insights during the process. Through independent and objective assessment, an exhaustive audit evaluates a company’s financial condition as well as its control systems and operational integrity. An external viewpoint helps to identify operational trends and risks alongside hidden inefficiencies that normal operations fail to detect.

Some of the critical benefits include:

• Identifying inefficiencies in operations or cash flow.
• The audit identifies areas where control systems show weaknesses or inconsistent application.
• Assessing both the correctness of financial information and the trustworthiness of data used for making business decisions.
• Detecting unrecognised risks or liabilities.
• Revealing underperforming business units or unprofitable products.
• Finding potential tax and compliance problems before they develop into bigger issues.

Businesses that engage with audit processes move beyond compliance to establish stronger positions for strategic decision-making and resource optimisation while planning growth.

Calibre Business Advisory’s Role in Adding Value

Growing businesses with limited internal staff or disjointed financial structures often find the audit process challenging to navigate. Calibre Business Advisory can assist businesses during this stage of the process. Organisations work with Calibre to transform their audit outlook from a burdensome necessity into a strategic advantage through our deep expertise in audit preparation and advisory services.

Their approach involves:

1. Pre-Audit Readiness and Risk Assessment

Calibre collaborates with clients to evaluate financial records and risk exposures as well as internal control status before starting the audit process. The process promotes efficient auditing alongside early detection of warning signs.

2. Liaising With External Auditors

We function as a connecting point between the business and external auditors while managing documentation completeness and response accuracy, and explaining potential issues. The process enhances engagement while minimising unexpected risks.

3. Translating Audit Findings Into Strategic Insights

Calibre provides advisory services immediately after the conclusion of many audit reports. Our experts translate audit findings into business strategies by pinpointing internal inefficiencies, procedural gaps, and financial inconsistencies that need resolution.

4. Embedding Continuous Improvement

Calibre inspires clients to move beyond the perception of audits as annual activities by fostering a year-round culture of continuous improvement using audit insights to boost operational performance, compliance standards and strategic growth planning.

Case in Point: Operational Efficiency

Audits often reveal critical insights about operational inefficiencies, which hold significant value. Operational inefficiencies can appear as poor inventory management systems alongside ineffective procurement procedures and repeated administrative operations with insufficient cost tracking methods. Businesses that discover inefficiencies can create better processes which help cut waste, increase profit margins and use resources more efficiently.

Calibre’s team provides clients with customised action plans to execute audit recommendations, which include tasks such as software integration, workflow restructuring and staff retraining. Businesses achieve better audit compliance along with improved business agility and cost savings.

Strengthening Internal Controls and Governance

The implementation of robust internal controls plays a key role in reducing fraud risk while guaranteeing data integrity and sustaining stakeholder trust. The audit process consistently identifies system weaknesses, including insufficient separation of duties, together with undocumented policies and unrestricted access to financial information.

Businesses can establish risk-based control frameworks matched to their organisation’s size and complexity through collaboration with Calibre Business Advisory. Control frameworks can involve automated approval workflows as well as delegated authority matrices, together with enhanced reporting tools. Better governance helps organisations succeed in audits while also establishing long-term stability and building investor trust.

Leveraging Financial Insights for Strategic Growth

Financial audit results expose underlying trends, including weak business segments and irregular revenue patterns alongside unnecessary spending areas. These insights act as a foundational platform to develop strategic plans.

For example, a business might:

• Streamline product offerings based on margin analysis.
• Adjust pricing strategies to improve profitability.
• Divest underperforming assets.
• Reinvest in high-growth areas.

Businesses that utilise these insights together with professional advice from business advisors can achieve decisions that maintain financial stability and capitalise on market opportunities.

Aligning with Evolving Regulatory Expectations

The regulatory sector has recently placed greater emphasis on ESG (environmental, social, and governance) disclosures, cyber risk mitigation, and corporate transparency standards. Modern audits now cover expanded areas, which makes remaining proactive crucial for businesses.

Sydney-based audit firms, including Calibre’s partners, maintain up-to-date knowledge of current reporting standards and industry expectations. Businesses that maintain compliance while demonstrating proactive governance build a stronger reputation that attracts stakeholders, customers and investors.

Embedding a Culture of Continuous Review

A shift in mindset represents the most powerful legacy that results from a high-impact audit. Companies that approach audits simply as compliance exercises fail to realise opportunities for ongoing enhancement. Organisations that adopt the review and reflection process as part of their operations obtain a strategic advantage.

Audits as a Catalyst for Growth

An effective audit process has the power to act as a transformative force within businesses rather than being just a formality. Audits empower organisations to eliminate hidden weaknesses and financial misunderstandings while directing them toward operational an improvement, which enables them to solidify their core structure and capitalise on growth possibilities.

Businesses achieve maximum audit benefits when they partner with established professionals from organisations like Calibre Business Advisory. Audits transform from mere compliance tasks into vital instruments for sustained success through custom support and strategic execution.

Audit services in Sydney are a wise investment for businesses that want to access these growth opportunities. Organisations that combine curiosity with thorough preparation and a dedication to continual betterment during audits can improve their performance while establishing trust and succeeding in complex global environments.

Contributed by:

Calibre Business Advisory
Level 8, 1 York St Sydney NSW 200

Web: https://calibreba.com.au/
Email: enquiries@calibreba.com.au
Phone: +61 2 9261 2177

The post Unlocking Business Insights: How Audits Can Reveal Hidden Opportunities appeared first on AGN International.

The two events brought together over 120 participants from both AGN and Nexia, offering a valuable opportunity to connect, exchange ideas, and further strengthen the collaborative relationship between the two associations in the region.

The meeting kicked off on the evening of 9 July with a traditional Thai welcome dinner, offering a relaxed atmosphere for attendees to get to know one another while experiencing the city’s culture. 

Learning and Growing Together

Thursday’s programme began with an AGN-only session, featuring a thought-provoking panel discussion on sustainability management, moderated by Kevin Bae and Tim Suryanata of Calibre Business Advisory (Australia and Singapore). Panellists from China, India, Indonesia, and New Zealand shared insights on in-demand services and key aspects of capability management across various jurisdictions. 

Andrew White from Ashfords, Australia, shared inspiring insights from the AGN Talent Secondment Programme, highlighting the benefits of cross-border collaboration through staff exchanges with Ballards LLP in the UK. 

Malcolm Ward, AGN Global CEO, and Mireia Rovira, AGN Director of Brand and Member Value, then led an engaging session on “Calibrating Your International Business Strategy.” They introduced key concepts to build international business strategy, highlighting some of the tools and resources available to members. This was followed by a workshop to discuss practical strategies and challenges in smaller groups.

Later in the day, delegates experienced some of Bangkok’s iconic culture, visiting Wat Arun (Temple of Dawn) and Wat Pho (Temple of the Reclining Buddha), followed by a memorable dinner aboard the Horizon Cruise on the Chao Phraya River—enjoying five-star cuisine with stunning views of the city at night. 

Sharing Experiences and Building Value

Friday morning began with a breakfast discussion for women from AGN Asia Pacific firms, creating a supportive space to exchange stories, challenges, and successes. The session also aimed to guide firm leaders on how to attract, retain, and promote talent by understanding and embracing the unique challenges women face in the profession.

The half-day conference began with opening remarks delivered by Nexia’s APAC Chair, Krupal Kanakia, and AGN’s APAC Chair, Greg Cusack, then continued with updates on our collaborative alliance presented by Nexia’s CEO Matthew Howell, and AGN’s Global CEO Malcolm Ward. Delegates then dived into two key sessions: Nexia presented about Talent Management, focusing on career development frameworks, and AGN team focused on Building Value to Firms, showcasing the approach on member value with focus on the Technology space, in context with the transformation of the competitive space. A quick assessment showed how firms rated priorities on this area.

After lunch, some AGN delegates joined an optional tour to explore Ayutthaya—Thailand’s former capital and UNESCO World Heritage Site. The tour included a visit to the Elephant Palace & Royal Kraal to learn about the cultural importance of elephants, a guided walk, through Ayutthaya Historical Park, and concluded with a scenic dinner at Grand Chaopraya Riverside Dining. 

“I’ve been a member of AGN for almost ten years. One of the key takeaways from this year’s conference was the importance of focusing more on international business — something that really stood out to me during Malcolm and Mireia’s session. This is also my second conference attended alongside Nexia members. It was great to reconnect with some I met last year and meet new ones. I really enjoyed connecting with them.”

Manoj Chawla – KNM, India

“It’s been a great experience to be part of the 2025 Asia Pacific Regional Meeting in Bangkok. I really enjoyed the sustainability management panel discussion on Thursday morning. I learned a lot, especially about regional collaborations and the challenges in the region. I’m going home with great memories.”

Yun Shan (Sandy) Lin, CPA at EnWise CPAs & Co, Taiwan

A Meaningful Gathering for the Region

The AGN Asia Pacific Regional Meeting 2025 blended insightful professional discussions with rich cultural experiences, helping members strengthen their connections and discover new ideas to support growth and collaboration across borders.

The post Press Release: The AGN 2025 Asia Pacific Regional Meeting Drives Collaboration Through Change appeared first on AGN International.

Funding Future Investment – Raise new capital funds or is it time to sell up?

Investing in new technologies and funding new skills and fresh talent, all while maintaining independence and your firms unique culture, is no doubt a tall order. The pressure to embrace and resolve these matters is relentless. Competitive pressure, productivity and workload pressure or the pressure of modernizing and transforming your business in the face of near constant developments in technology – all bring the need for capital funds into focus. Some firms rely on a strong balance sheet with reinvested profits. Others draw on modest capital injections from retained earnings, bank lending, or new equity partners, or external backing.

This AGN Global Business Voice publication synthesizes seven strategic capital-raising routes available to AGN member firms. Each has unique advantages, trade-offs. Their strategic fits depending on the firm’s objectives, risk appetite, and ownership philosophy.

Strategic Financing Options Mapped by partner autonomy,
timescale commitment &
funding potential

Left, is an illustrative schematic comparing relative partner autonomy, timescale commitment and funding
potential between options. Individual circumstances and deal structures vary widely, impacting this assessment, and
below we explore the potential pros and cons of all these approaches.

On the move?
Tune into our mini podcast on Spotify at the end of this article for a quick summary of the key insights.

Below is AGNs checklist of matters you should consider at the start of your journey to raise capital resources for your firm: The checklist would make useful section headings for an internal project report.

Funding Future Investment 1: Strategic Alliances and Partnerships

Perhaps not the most obvious starting point, but perhaps it’s possible to avoid the need for raising capital altogether? Strategic alliances involve partnering with another organization to drive mutual growth—without full mergers. Accounting firms may align with other firms, consulting or tech businesses, or join investor-backed networks. These arrangements aim to leverage strengths such as client bases, expertise, or technology access. While alliances typically don’t bring a large one-time capital injection, they often reduce capital needs and generate new revenue.

Application Across Timeframes

Suitability for Medium-Sized Firms

Alliances are ideal for firms seeking capability growth over sheer size. For example, a 15-partner firm strong in compliance might partner with a consulting boutique to add advisory depth. Joining an international network allows service expansion across borders, and tech alliances can support transformation goals at lower costs.

Conclusion

Strategic alliances offer a balanced path to growth. While not suited for firms needing fast capital, they enable mid-sized practices to stay competitive, broaden their offer, and access tech—all without giving up control. For firms that want to remain themselves but do more, alliances are a powerful tool. They amplify capabilities, reduce cost burdens, and allow firms to punch above their weight—especially when well-managed and mutually beneficial.

Funding Future Investment 2: Private Equity Investment

PE firms see medium-sized accountancy practices as attractive due to recurring revenues, strong client relationships, and potential for digital and service transformation. These firms provide a foundation for platform-building, where PE can drive rapid growth through add-on acquisitions and operational efficiency.

Why Private Equity Is Interested in Accounting Firms:

PE firms look for:

• Strong EBITDA performance
• Growth potential
• Recurring revenue
• Niche expertise
• Leadership & succession
• Digital readiness
• Cultural fit

Firms demonstrating digital maturity, operational efficiency, and strategic clarity are especially appealing Introduction. Firms with specialist services (e.g., tax, corporate finance, ESG, or tech consulting) often command higher valuations, especially when they’ve embraced digital tools and can scale.

What members can do next?

AGN firms can:

• Learn from peers – AGN members include a raft of firms that have taken PE investment.
• Use diagnostics to assess readiness – The AGN Advisory Migration Diagnostic, the AGN Digital Maturity Diagnostic and the AGN Practice Performance Diagnostic.
• Explore advisory migration through discussions with AGN member firms that are advanced in their journey.
• Build regional platforms with scale – AGN includes members that have catapulted their growth and scale country based acquisitions.

Funding Future Investment 3: Bank & Debt Financing

Banks, credit organisations and other financial institutions allow firms to raise capital via debt—commonly through term loans, lines of credit, or specialized instruments. Accounting firms with stable revenue streams can often secure sizable loans, though usually with personal guarantees equity or seconded on Trading history or forecast future performance. While debt doesn’t dilute ownership, it does require repayment with interest.

Application by Time Horizon

Conclusion

Bank financing is a practical, non-dilutive funding route for medium-sized firms. It supports independence and growth if firms are financially disciplined and confident in their repayment capacity.

Funding Future Investment 4: Employee Stock Ownership Plans (ESOPs)

An Employee Stock Ownership Plan (ESOP) allows a firm to transfer ownership to employees through a trust, often using a loan (leveraged ESOP) to buy partner shares. Over time, profits repay the loan and shares are allocated to employees— usually based on salary or tenure. It’s a form of internal succession and financing, with the added benefit of boosting engagement and retention. Though rare in accounting, ESOPs are gaining traction after BDO USA’s notable adoption in 2023.

Suitability for Medium-Sized Firms

ESOPs work well for firms with steady profits, low debt, and a deep team—especially those facing leadership succession. If a firm has retiring partners and engaged staff, an ESOP can align interests, provide exit capital, and retain independence.

Applicability Over Time

Funding Future Investment 5: Internal Partner Funding

Internal funding involves using the firm’s own partners—current or incoming—to raise capital. This can be through capital contributions, retained earnings, or new partner buy-ins. It’s a traditional method that keeps ownership within the firm, often facilitating generational succession.

Suitability for Medium-Sized Firms

Internal funding is ideal for stable, independently minded firms with upcoming leaders. It suits planned, moderate capital needs—like phased tech upgrades or service expansion—and firms aiming for long-term sustainability.

For instance, a 15-partner firm with retiring seniors and rising managers might use this model to transfer ownership and raise funds simultaneously. It works well when firms reinvest profits year over year, supporting continuous but controlled evolution.

Use Across Timeframes

Conclusion

Internal partner funding is the most traditional financing method for professional service firms. It supports control, stability, and long-term continuity, but comes with limits on capital availability and speed.
It’s most effective when aligned with a forward-looking succession plan and used for investments that can be planned and phased over time. For medium-sized accounting firms prioritizing independence, internal funding provides a reliable, sustainable approach—especially when supplemented with other capital sources as needed.

Funding Future Investment 6: Mergers or Acquisitions (Strategic M&A)

Merging with or being acquired by another firm can inject capital, solve succession issues, and provide scale. It trades independence for resources and often forms part of consolidation strategies in the accounting sector.

Funding Future Investment 7: Public Listing or IPO (Initial Public Offering)

An Initial Public Offering (IPO) represents a bold capital-raising move—opening a professional services firm to public investment by listing on a stock exchange. Although rare in the accountancy world, a handful of firms, particularly in legal and advisory services, have paved the way. Going public can unlock substantial capital, raise brand visibility, and enable rapid expansion—but not without significant governance and regulatory burdens.

Suitability for Medium-Sized Firms

The most high profile listing of firm listings took place in the early 90s with the likes of Numerica and Tenon floating on the UK AIM exchange – a not entirely successful venture. However, listing is back in vogue if in a lower key format largely for the legal sector; Knights Group (UK Law Firm): Listed on the London Stock Exchange AIM in 2018. The Australian legal sector saw firms like Shine Lawyers and Slater & Gordon have listed successfully, demonstrating that professional service businesses can work as public companies—if structured properly.

For most AGN members, a full IPO may not be an immediate option, however, the idea of a quasi-public route is evolving. Firms might:

• List only non-audit subsidiaries (e.g. consulting or digital arms).
• Explore private placements or mini-bonds via capital markets.
• Use ESOPs as stepping-stones to broader market participation.

Ownership Impact

• Original partners may retain a stake, but shareholder interests dominate.
• Board and executive governance become critical.
• Voting rights shift towards institutional or public investors.

The autonomy of the founding partners is reduced—but capital availability and future liquidity options are greatly enhanced.

Application Across Timeframes

Other Financing Options are available

Conclusion

The ability to raise and deploy capital strategically is an increasingly important factor for successful modern accounting firms. Whether it’s attracting private equity, borrowing from a bank, unlocking internal funds, forming alliances, building an ESOP, or merging with a peer, each pathway has a place in a firm’s journey.

AGN members are encouraged to reflect on their current and future needs—balancing ambition, independence, and succession planning. In many cases, a hybrid approach offers both agility and stability. Use this guide as a diagnostic and discussion tool with your leadership team as you build your future-ready firm.

Mini podcast

Tune into our mini podcast on Spotify for a quick summary of the key insights.

Copyright © 2025 AGN International Ltd. All rights reserved. No part of this publication may be reproduced, distributed, or transmitted by non-members without prior permission of AGN International Ltd.

The post A Guide to Funding Future Investment – Raise new capital funds or is it time to sell up? appeared first on AGN International.

Introduction

Switzerland has released its Safe Harbour interest rates for 2025—benchmarks that significantly affect how multinational companies structure intra-group loans. While often overlooked due to their technical nature, these rates carry real weight for compliance, tax risk management, and treasury strategy. For finance professionals and tax advisors operating in or through Switzerland, staying informed isn’t optional—it’s essential.

What Are Switzerland’s Safe Harbour Rates—and Why Do They Matter?

Safe Harbour rates are annual reference interest rates published by the Swiss Federal Tax Administration (SFTA). These rates allow Swiss entities to comply with the arm’s length principle for intra-group loans without without complex benchmarking.

When applied correctly, Swiss tax authorities accept them as compliant—thus reducing tax audit risks.

2025 Rates: Key Updates at a Glance

– Effective January 1 – December 31, 2025
– Retroactive application from January 1, 2025

Practical Considerations for Tax and Treasury Teams

• Swiss-only presumption: Foreign tax authorities may not accept these rates for cross‑border loans—transfer pricing documentation may still be needed.
  
• Exclusions: Short‑term funding and cash‑pooling structures do not qualify and must be benchmarked separately.
  
• Credit risk ignored: These rates ignore borrower creditworthiness. For loans with higher risk profiles, supporting comparable market data is essential.
  
• Non‑compliance risks: Applying non‑arm’s length rates without documentation can lead to hidden profit distributions and possible Swiss withholding tax of 35% (or reduced in case a Double Taxation Treaty would be applicable).

Recommended Next Steps for CFOs & Tax Leads

• Catalogue intra‑group loans: Determine eligibility for Safe Harbour treatment.
  
• Amend contracts to reference the 2025 Safe Harbour rates where applicable.
  
• Prepare transfer pricing documentation or seek tax rulings for cross‑border or high‑value loans.
  
• Align treasury policies to ensure consistency globally.

Conclusion: Leverage the Rules, Mitigate the Risks

The 2025 Safe Harbour rates reflect the present interest rate environment in Switzerland and serve as an effective compliance tool—when used correctly. For loans that fall outside their scope, prudent documentation or official rulings are key to avoiding tax ambiguity or material exposure.

Brought to you by the AGN EMEA Tax Committee

If you have any questions in relation to this article, please get in touch with Rocco.

Rocco Arcidiacono
Partner & Swiss certified tax expert, TEP
Fiduciaria Mega SA

Email: rocco.arcidiacono@fiduciariamega.ch

The post Switzerland’s Safe Harbour Interest Rates 2025: What Treasury Teams and Tax Leaders Must Know appeared first on AGN International.

Chaordic perfectly describes the environment finance leaders now operate in, a fusion of chaos and order. In March 2025, R Venkatakrishnan wrote an article titled Accounting in the Era of STEM, published in The Hindu Business Line. The piece explored the changing landscape of the finance profession amidst the rise of Science, Technology, Engineering, and Mathematics disciplines. The response was overwhelming and encouraging. It prompted a deeper reflection—not just on accounting per se, but on the evolving nature of leadership in finance, particularly the CFO’s role.

That journey, and the conversations it sparked, culminated in an address to a forum of senior finance professionals on the theme: “Chaordic CFO – Managing DISTRESS in an Uncertain Future.” The title was a deliberate play, on both the emotional and structural stress, experienced in today’s business world, and on the leadership compass needed to manage it.

The word Distress:

Was used as a strategic acronym Disruption, Innovation, Strategy, Transformational Growth, Resilience, Execution, Storytelling, and Stakeholder Management. Each dimension reflects an area where the CFO’s responsibilities have evolved. The objective is not merely to diagnose corporate pain points, but to offer a roadmap moving from distress to ‘eustress’ a productive, purposeful stress that drives excellence.

The term ‘chaordic’:

Perfectly describes the environment finance leaders now operate in, a fusion of chaos and order. Today’s CFO must strike a balance between structure and innovation, compliance and creativity. Systems must be self-organising, adaptive, and resilient. Too much order leads to rigidity and missed opportunities. Too much chaos results in collapse and confusion. The Chaordic CFO thrives in this space, designing systems that are stable yet agile prepared for disruption, but wired for reinvention. Chaordic is not about eliminating uncertainty it is about leveraging it for growth.

Chaordic: Setting the Stage

In a world of exponential change technological acceleration, regulatory flux, ESG expectations, and geopolitical uncertainty—finance professionals are under more pressure than ever. For decades, they have been trained to drive by looking in the rear-view mirror, obsessing over historical data. But in today’s landscape, that’s not just limiting it is dangerous.

Marshall Goldsmith’s famous book, ‘What Got You Here Won’t Get You There’, speaks to a mindset shift. Past strengths become blind spots. Comfort zones calcify. To lead in the modern enterprise, CFOs must let go of outdated patterns and embrace agility. The real question is not whether change is coming it is whether we are ready to stay ahead of it.

Disruption: The New Normal

Disruption is not a trend in this environment. Technology is reshaping every sector, consumer behaviour is shifting faster than ever, and geopolitical shocks are redefining supply chains. What makes this disruption more challenging is its unpredictability and pace. CFOs must now function as foresight enablers detecting early signals, modelling scenarios, and funding agility.

It is deeply ironic that the quote ‘Only the paranoid survive’ came from Andy Grove, the former CEO of Intel a company now facing sustained challenges from Nvidia and Chinese semiconductor firms. Even titans can stumble if they fail to adapt. Disruption now comes not just from competitors but from adjacent industries, startups, and platform models. CFOs must build organisations that don’t just absorb shocks but anticipate and capitalise on them.

Innovation: Commercialising the Future

Innovation has shifted from being a lab function to a boardroom priority. It is also conjunction of two words viz., invention and commercialisation. It’s no longer just about products; it is about new business models, new partnerships, and new ways of delivering value. CFOs must move beyond the ROI lens alone and understand the potential of test-and-learn models, venture capital style investments, and sandbox experimentation.

Take 3M’s example, where 40% of its revenues must come from products introduced in the last five years. Or Ather Energy, incubated by IIT Madras, that scaled into a nationally recognised EV brand where the incubator has raked in a coolk Rs.50 crore from the offer for sale in the public issue. Finance must now fuel innovation not just evaluate it. CFOs must underwrite risk that creates long-term optionality.

Strategy: Agility with Focus

Strategic clarity is no longer about five-year forecasts. It’s about adaptive decision-making and dynamic capital allocation. AV Thomas’s investment of ₹25 crore in Chai Kings shows how legacy firms are diversifying into emerging markets a classic case of corporate venture capital. Similarly, Century Pulp’s divestiture of its paper division to ITC for ₹3500 crore underlines the strategic importance of focusing on core competencies.

Organisations are embracing circularity to reduce waste and manage cost, aligning sustainability with strategy. According to an EY India survey, over 74% of Indian corporates plan to divest non-core assets over the next 24 months. CFOs must be stewards of simplification and strategic boldness.

Transformational Growth: Moving Beyond Linear Ambitions

Linear growth is no longer viable. In a post-pandemic economy shaped by digital transformation, CFOs
must support adjacencies, build ecosystems, and simultaneously drive scale and efficiency. Transformational growth is about doing many things at once; entering new markets, exiting declining
verticals, building platforms, and reinventing delivery.

It also involves challenging assumptions. The boldest CFOs support disruptive bets whether transitioning from B2B to B2C, investing in net zero transitions, or acquiring capabilities, not just revenue. Transformational CFOs help the organisation operate with a venture capitalist mindset.

Resilience: The Boardroom Priority

Resilience is no longer reactive; it must be embedded in business design. From climate events to cyberattacks and supply disruptions, organisations must be equipped to bounce forward, not just back. McKinsey outlines six dimensions of resilience – financial, operational, technological, organisational, reputational, and business model. CFOs now oversee more than capital; they govern continuity.

Boards now ask: Do we have the liquidity buffer for the next disruption? Can our cost structure flex if demand collapses? Resilience also includes reputational equity. CFOs must institutionalise preparedness, monitor lead indicators, and embed risk thinking into every process.

Execution: The Discipline of Doing

Execution is what separates vision from reality. A recent Business Standard report noted Tata Steel’s plan to take out ₹11,000 crore in costs on top of ₹6000 crore already realised in FY25. Such initiatives signal that execution must be relentless. Consumers are price sensitive. Passing cost increases is difficult. The only path forward is variable cost design, continuous upskilling, and capacity flexibility. Execution also means systems that support decision-making at speed.

The CFO must empower frontline managers with real-time data, nurture a culture of ownership, and facilitate productivity through technology. Agility is not about chaos it is about preparation meeting opportunity.

Storytelling: Data with a Heartbeat

Today’s CFO must speak the language of influence, not just accuracy. Whether explaining investment strategy to the board or decoding ESG disclosures to investors, the ability to narrate numbers is a superpower.

Storytelling brings structure to ambiguity and converts insight into alignment. It is not enough to report that margins shrank. One must explain why, what’s next, and how strategy adapts. Storytelling is also critical in earnings calls, sustainability reporting, and employee town halls. A CFO who can tell a story backed by data earns credibility across all stakeholders.

Stakeholder Management: The Trust Imperative

Stakeholder management has become central to the CFO’s role. With rising public scrutiny, social media activism, and ESG mandates, companies must engage diverse interest groups with integrity. Stakeholders now include investors, employees, regulators, communities, NGOs, and platforms. Each has different expectations—and one misstep can go viral.

CFOs must ensure that communication is consistent, transparent, and backed by ethics. From regulatory filings to advertising messages, every output must reinforce corporate trustworthiness. In this era, compliance is the baseline. What sets leaders apart is principled engagement.

From DISTRESS to EUSTRESS

Not all stress is harmful. Eustress, the positive tension that motivates performance, is essential to growth. The Chaordic CFOs doesn’t fear challenge. They harness it. They convert disruption into discipline, ambiguity into architecture, and pressure into possibility.

Moving from DISTRESS to EUSTRESS is about re-framing the CFO’s function: from protector to co-creator, from controller to catalyst. It is about building cultures that don’t avoid risk but learn from it. Eustress is energy with direction. It empowers the organisation to stretch without snapping.

Inventing the Future

As Alan Kay said, ‘The best way to predict the future is to invent it.’ CFOs now have the mandate and tools to shape the future. But as John C. Maxwell reminds us, ‘If you don’t create the future you want, you must endure the future you get.’

The Chaordic CFO is no longer confined to the balance sheet. They are strategic designers, resilience champions, and change agents. Their mandate is to build organisations that are future-ready fiscally sound, digitally intelligent, and ethically grounded.

This is not just about navigating the next disruption it is about leading the transformation. From DISTRESS to EUSTRESS is not just a framework. It is a call to action.

Contributed by:

R V K S and Associates

Head Office:

No.147, Rajparis Trimeni Towers
GN Chetty Road, TNagar
Chennai, 600017

Branches:

• Chennai
• Banglore
• Hyderabad
• Andhra Pradesh
• Maharashtra

Web: www.rvkassociates.com
Email: assurance@rvkassociates.com
Phone: 044-28150540/541/542

The post Chaordic CFO – Managing DISTRESS in an Uncertain Future appeared first on AGN International.

Introduction: The Transformation Mismatch

We are living through an era of profound technological acceleration. From AI-powered audit procedures to cloud-based advisory dashboards, the professional services industry is undergoing sweeping change. Mid-sized accountancy firms, including AGN members, are among those leading the charge—making bold investments in digital infrastructure, training, automation, and analytics to enhance client service and firm profitability. But there’s a problem...

Many clients aren’t keeping pace. In fact, the gap between the digital maturity of professional firms and the readiness of their clients is growing wider, and it’s starting to affect relationships, efficiency, advisory services—and in some cases—billable opportunities. We call this the transformation mismatch: a scenario where the firm is ready to move at digital speed, but the client isn’t equipped (or willing) to follow.

This Global Business Voice paper explores how this misalignment manifests, what it means for the delivery of services and advice, and what practical steps AGN members can take to mitigate the risk and capitalise on the opportunity.

On the move?
Tune into our mini podcast on Spotify at the end of this article for a quick summary of the key insights.

All AGN members are somewhere on the journey to Digital Transformation. The AGN Digital Maturity Diagnostic Tool (accessible to members only) provides AGN members with a diagnostic report and suggestions on key areas of improvement after answering a series of questions. The graphic below presents the four levels.

Practical Actions for AGN Members: What To Do Now

Here are 7 practical and immediately actionable steps AGN members can take to address client
digital immaturity.

1. Diagnose Your Client Base

Not all clients are equal in digital terms. Conduct a light-touch assessment of your top 50 clients and
classify them into tiers:

• Leaders – already using integrated cloud accounting and open to new tech.
• Followers – some adoption but inconsistent practices.
• Laggards – little to no use of digital tools.

Understanding this segmentation helps you prioritise efforts and tailor approaches.

2. Tailor Communications to Digital Maturity

Generic client emails or newsletters may miss the mark. Consider developing communications that speak
directly to the client’s digital level. For example:

• For ‘laggards’ – “Three simple tech steps that will reduce your admin burden.”
• For ‘leaders’ – “Harnessing AI for real-time business decision-making.

Understanding this segmentation helps you prioritise efforts and tailor approaches.

3. Launch Digital Literacy Briefings

Some clients simply don’t understand the ‘why’ of digital transformation. Host informal webinars,
breakfast briefings, or 1:1 sessions to:

• Demystify terms like AI, automation, and APIs.
• Demonstrate tangible value—like faster response times, better cash flow reporting, or automated
  reconciliations.
• Use simple, real-life client success stories.

This is education without the jargon.

4. Co-Create Digital Roadmaps

Engage your clients in developing their own digital journey. Help them define where they are now, where
they want to be in 12–24 months, and what steps they’ll take to get there. Consider offering these as part
of an onboarding pack, client review, or even as a chargeable advisory product.

Include milestones like:

• Migrate to cloud accounting.
• Implement client portal.
• Introduce simple dashboard reporting.

5. Develop Digital-First Advisory Services

Package services that are not only digitally delivered, but enhanced by digital capability. Examples:

• “CFO Dashboard-as-a-Service” – combining real-time reporting and monthly insights.
• “Cashflow Alerts & Predictive Modelling” – AI-generated forecasts and automated flags.
• “Digital Health Check” – one-time scan of client systems and readiness

These services exemplify your digital ability and offer clients tangible benefit. They can demonstrate to
laggards, what laggards are missing out on.

6. Upskill Relationship Managers to Spot & Sell Digital

Your partners and senior managers are often the closest to clients. Invest in training to help them. What
are the conversation starters? Do your partners/managers have a script around this topic? Are they
equipped with recommended solutions for those that show an interest?

Training might focus on:

• Recognising digital blockers (e.g., manual invoice processing).
• Introduce simple tools (e.g., Dext, Xero projects).
• Share short client stories that highlight transformation success.

7. Incentivise Change with Low-Risk Pilots

Offer time-limited discounts, bundled training, or “first 90 days free” options on new digital services.
This reduces the barrier to entry and lets clients experience the value before committing fully.

It’s about creating momentum and lowering risk—for both sides.

The Digital Acceleration Divide: What’s Going On?

AGN member firms are digitalising at an impressive pace. According to internal benchmarks and diagnostics, over 70% of firms have adopted some level of automation, AI experimentation, cloud systems integration, and dashboard reporting in the last 24 months.

They’re doing this not just to improve margins, but to:

• Increase delivery capacity without headcount.
• Elevate client insight and value.
• Create scalable advisory propositions.

However, client firms—particularly SMEs—are a mixed bag, and so these changes don’t alway get imdiate traction with clients.

Why Clients Are Lagging

Despite the steady advance of digital solutions within accountancy firms, many clients remain hesitant,
slow, or outright resistant to change. This hesitancy can be puzzling to firms that see the benefits so
clearly—but it is rooted in real, often deeply embedded challenges. Let’s explore the most common
causes:

The consequences for AGN firms are significant. As clients hesitate or stall, the firm’s ability to fully leverage its own digital infrastructure becomes compromised. And more than that—relationships begin to strain, as client expectations and firm capabilities move out of sync.

The Three Core Challenges of Client Digital Immaturity

Capability vs Comfort: A Growing Mismatch

AGN firms are increasingly fluent in digital working. From automated data extraction in audit engagements to predictive analytics in advisory, these capabilities are now embedded in many firms’ delivery models. However, when clients remain rooted in paper-based systems or low-tech workflows, the resulting disconnect is stark.

Scenario: For example, a mid-sized accounting firm rolled out an AI-assisted tax reconciliation platform designed to reduce turnaround time by 60%. However, nearly a third of clients declined to use it, citing uncertainty about “AI accuracy” and a preference for their long-time spreadsheet system. The firm is left straddling two workflows—one advanced, one antiquated—undermining efficiency and morale. Firms must then manage the cognitive dissonance of operating at two speeds: high-performance digital with some clients, and analogue friction with others. The costs—both operational and emotional—are real.

2. Digital ROI Stalls Without Client Buy-In

Most AGN members have made significant investments in digitisation—through client portals, automated workflows, intelligent document management systems, and AI-assisted compliance. These investments are intended to increase profitability, scalability, and consistency. But crucially, they rely on client participation to deliver value.

Scenario: If only half your clients upload documents through the portal, the manual chasing begins again. If clients ignore task alerts or continue to send documents via email or post, the system breaks down. Exceptions multiply. Instead of automation freeing time, your staff spend it correcting or working around the exceptions.

This stalls ROI and creates a hidden cost burden—you pay twice: once for the digital infrastructure, and again for the manual work required when clients don’t engage with it.

Worse still, this client behaviour often goes unbilled, because firms feel awkward charging clients for inefficiencies
they themselves created.

3. Advisory Services Need Clean, Timely Data to Work

The growing advisory proposition of AGN members depends on data—good data, recent data, reliable data. Whether it’s offering scenario modelling, ESG reporting, cash flow forecasting, or strategic dashboards, the fuel for these services is accurate and timely input from the client. Without it, even the most sophisticated advisory offer falters.

Scenario: A firm develops a real-time KPI dashboard for a key client. It’s ready to go live. But the client only updates their ledgers once a quarter and refuses to automate bank feeds. The dashboard becomes a digital ornament—impressive, but ultimately unused.

The trust built through advisory work is undermined when insights are incomplete or out of date. And from the firm’s side, the advisory effort becomes unscalable when every project requires a manual workaround just to get basic client data.

Final Word on the Lag

Digital transformation is not just a technical project—it’s a behavioural and cultural shift. AGN firms may have the systems and the know-how, but unless clients can be brought into the ecosystem, that transformation will be incomplete. Addressing the lag is not about forcing clients forward—it’s about understanding the reasons behind their resistance, and finding empathetic, ways to help them take the next step. That’s the opportunity for AGN members: to become not just accounting firms with great tec—but true transformation partners for the clients they serve.

The Advisory Opportunity: Turn the Gap into Growth

While the mismatch presents challenges, it also unlocks one of the biggest growth opportunities for mid-sized firms: become your client’s digital transformation guide. This is advisory with a capital A—and it’s exactly the journey AGN’s Advisory Migration Methodology (AMM) supports. The four regions of the AGN Advisory Migration Methodology (Data & Skills Inputs, Service Framework, Stakeholder Environment, and Outputs & Reporting) can be directly applied to assisting a mutual shift towards digital transformation and post digital advisory. The fact is your firm already understands the levers of the methodology – the opportunity here is to apply them to yours and the client’s business.

Top Tips:

Use what the software can provide to improve Outputs & Reporting. Help a client design board-level easy to access and interpret dashboards.
Offer training sessions to teach Foundational Skills data analysis skills to your client’s finance team.
This not only supports your client—it differentiates your firm in an increasingly commoditised market.
Think carefully about the Stakeholder & Business Environment. Understand how to manage change resistance in the client team.

Conclusion: Mind the Gap—Then Close It

Digital transformation has shifted from optional to existential. Your firm may already be adopting
the tools, platforms, and thinking required to thrive in the new era—but your clients may not
be ready. This readiness gap is now a defining feature of modern professional service delivery.
Firms that fail to bring their clients along risk frustration, underutilised investments, and missed
revenue.

But those who embrace the opportunity to educate, support and lead clients into the digital
age will:

• Unlock deeper relationships.
• Build scalable advisory offerings.
• Future-proof their own value proposition.

Mini podcast

Tune into our mini podcast on Spotify for a quick summary of the key insights.

Copyright © 2025 AGN International Ltd. All rights reserved. No part of this publication may be reproduced, distributed, or transmitted by non-members without prior permission of AGN International Ltd.

The post The Pace of Digital Transformation vs Client Readiness appeared first on AGN International.

The award was announced, along with other recipients of the 2025 Marketing Achievement Awards, during the association’s annual summit in Phoenix, AZ. The team competed against marketing departments from several nationally known firms for the honor.

The James Moore marketing team was recognized for their efforts to better reach the construction industry, including monthly newsletters, long-form guides, a webinar campaign and more. The results of their work included a 231% increase in web traffic to construction-related content and a top five Google ranking in organic search for select keywords. Additionally, digital marketing efforts became the second biggest source of new business for clients in the industry.

“At James Moore, we’ve always believed in the importance of innovation and forward-thinking growth strategies,” said firm CEO Suzanne Forbes. “Our marketing department’s work in this vein shows how a robust digital foundation can drive sustainable growth. We’re incredibly proud of their achievement!”

The AAM is a national association that provides education, community and resources for accounting firms, CPAs, consulting firm marketing and sales professionals, partners, firm administrators and representatives of businesses offering products and services to the accounting industry and marketing professionals.

James Moore, founded in 1964, is a business consulting firm with offices in Daytona Beach, DeLand, Gainesville, Ocala and Tallahassee, Florida. The firm specialises in providing tax, auditing, accounting and controllership, data analytics, human resources, technology and wealth management services to clients nationwide.

CONTACT:

Stacy Dreher
Chief Growth Officer
5931 NW 1st Place
Gainesville, FL 32607
(352) 378-1331
Stacy.Dreher@jmco.com

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