Greetings!

This issue of Integra’s Global Update includes the following insights:

1. Altheia LeDuc, CPA shares with you a new way to address US GAAP for variable interest entities and goodwill when it involves a private non-public company. Much relief for a time consuming and costly process is ahead.

2. Transfer pricing, a huge component of international accounting, and the sanctions for failing to produce adequate information under the French Finance Act 2015 is explained by Nigel Bath, CA whom I had the pleasure of meeting in Brussels.

3. Personnel information varies greatly from country to country. Luckily, we get an overview from Bal Dhesi, MCIPD, on the complex rules that apply for foreign businesses in the UK.

4. Finally, Hong Kong – what you need to know about working and living there. Simon Cheung, gives us insights on how to acquire a permanent residency visa and citizenship. I had the pleasure of meeting Simon in Vienna, as we stood in the lobby with the same conference bag he welcomed me with a smile.

I am thoroughly enjoying being CEO of Integra International. As a worldwide association of independent accounting, audit, tax and consulting firms our strength, and your benefit, is knowing that no matter where in the world business takes you, there is an Integra firm ready and able to provide you with excellent service.

We are aggressively pursuing additional members in cities and countries where we do not have a member firm. Mr. Joan Lliteras has been doing a tremendous job for us in Africa, Europe, India and the Middle East as you can see by the number of new member announcements we have sent you. He is very committed to this work and it’s evident that Integra is better because of him.

I am focusing on Asia and the Americas and an announcement of a new firm in Latin America will be sent out very soon. We are also receiving inquiries from firms where we already have a member firm, which means firms like what they see about Integra and want to join. The trick is having an interested firm in a location we don’t currently have one. Both Mr. Lliteras and I will continue our efforts to grow Integra.

In my CEO Letter sent last week I covered my trips to Houston and Brussels, so I won’t repeat it here. Nonetheless, those trips and my recent trip to visit Salgado Contadores in Guadalajara on my way to Latin America prove to me that we have the highest quality of member firms. In my 16 hours in Guadalajara I got to meet all the employees at the firm and spend some time with managing partner Francisco Salgado. I learned a lot from our conversations and hope to help address the needs they raised. On my trip to Latin America Carolina Perez a Partner at Salgado Contadores went with me to help with the due diligence of the Latin America firm. We had lots of time at the airports to talk about professional issues and ideas for upcoming seminars. She is yet another example of members volunteering their time to help grow Integra.

I share with you the trips I make and the members I meet because I believe that these connections are a prime example of those intangible benefits you receive as an Integra member. You may meet and see someone many times and not do business for years, but you develop a great relationship. Then one day something comes up and this person is the one you need help from with a client. You can get right to work because you already have an established relationship with them.

This is why I also share the meetings and events where you can make these wonderful connections with other members. Don’t miss our next events and conferences in Dublin, Santiago de Chile and Vancouver where you’ll meet fellow Integra members and continue making Integra work for you.  I look forward to seeing you at one of the events.

The next issue of Global Update will be published September 2015.

My warmest regards to you,