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EFAA CONFERENCE January, 19- 2010, Brussels - Belgium

The Growing importance of Accountants to SMEs in a new age. EFAA CONFERENCE January, 19- 2010, Brussels - Belgium Martin’s Central Park Hotel, Meeting room Topaz Presentation by Sylvie Boyer Partner Boyer Audit & Conseil-France. European Federation of Accountants and Auditors for SMEs.

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EFAA CONFERENCE January, 19- 2010, Brussels - Belgium

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  1. The Growing importance of Accountants to SMEs in a new age EFAA CONFERENCE January, 19- 2010, Brussels - Belgium Martin’s Central Park Hotel, Meeting room Topaz Presentation by Sylvie Boyer Partner Boyer Audit & Conseil-France European Federation of Accountants and Auditors for SMEs

  2. How to support SME’sin turbulent times

  3. The role of the accountant Moving foward From accounting to finance Adapted offer for the SMEs Building trust and developing business partnerships with the other professionals (marketing and communication, ...)

  4. Mobilization of chartered accountants Diagnostic & AdaptedResponses

  5. Mobilization of chartered accountants Diagnostic & Adapted Responses

  6. Mobilization of chartered accountants Diagnostic & Adapted Responses

  7. Mobilization of chartered accountants Diagnostic & Adapted Responses

  8. The Credit Mediation for Business What is the credit mediation in France? • Launched in Oct. 2008 • Ensuring the stability of the banking system and the support for the activity of companies • National Credit Mediator • Innovative initiative: “the french best practice”

  9. The Credit Mediation for Business What is the credit mediation in France? CCSF CIRI CODEFI …. General Tax Receiving Officer Businesses in difficulty Regional monitoring unit BUSINESS PREFECT Credit Mediator Banks OSEO SIAGI Investment funds, etc. Credit insurers + + Access to credit Source: Ministry of Economy and Industry, 2009 Scheme develop in each French County

  10. The Credit Mediation for Business Providing a concrete and pragmatic support • 2 objectives • Leaving no business alone facing cash flow or financing problems • Ensuring that banks and credit insurance firms respect commitments made within the context of the economic stimulus plan • A rigorous method • Analysis and solution for each eligible company • Encouraging banks to provide financing or, in case of a refusal, offer alternatives in connection with other financing institutions • Anticipating risks/sector • Reporting any unresolved issue to the government

  11. The Credit Mediation for Business Who is eligible ? Eligible for mediation Other types of support • All Commercial companies, including Newly-formed companies • Craftsmen • Shopkeepers • Self-employed individuals • Associations liable for corporate tax • Companies undergoing insolvency proceedings • Individuals • Associations not liable for corporate tax • Companies in liquidation All companies are eligible if their bank has formally refused the financing All companies meeting financial difficulties with bank, credit insurance or capital

  12. The Credit Mediation for Business Time frame for action New arrangements SUCCESSFUL MEDIATION Referral to TPG CASE TRANSFERRED Company agrees SUCCESSFUL MEDIATION General Tax Receiving Officers (TPG) Incomplete files Trusted Third Party 1 2 3 4 5 Bringing a case Identification of needs Bank Review Opinion Intervention plan Regional solutions Proceedingsin revision + 48h Within 12 days Local mediation agenda 8 days Within 7 days(*) Day 1 Cases eligible for mediation A 5 step, time-saving and free of charges process • Credit refused • Commercial credit problem • Equity financing needs • Companies in insolvency proceedings • Others Source: Ministry of Economy and Industry, 2009 (*) Extended to 10 days with Oséo

  13. The Credit Mediation for Business Mediation: Accountant a day to day partner for business • Actions before the Mediator • Filling a mediation request online • Banque de France/dept mediator immediately examine the application • Searching for help from accountant, auditor or non-profit accounting organisation or from the closest Trusted Third Party designated locally by the professional networks. • The mediation file • Identification of the company • Reason for filling a case (credit request refused, credit lines withdrawn, commercial credit management problem, etc.) • Financial situation (cash balance, turnover, net operating profit, etc.) • Business forecast

  14. The Credit Mediation for Business Leadership mission of Mediators & TrustedParties network • 9 Delegate Mediators • 105 Departmental mediators, local Directors of the Banque de France and of the IEDOM in the French overseas territories in charge of mediation cases • Centralised operational team (financial analysts & editorial staff to support the local teams) • A 1000 member Trusted Third Parties network collectively designated by the professional organisations and chambers of commerce, industry and trade, to support companies in their effort prior the process of filling their mediation requests

  15. The Credit Mediation for Business Facts and Figures • Mediation= 3,65 billion Euros of credit volumes/2009 20 491 companies apply to the Credit Mediation 16 904 eligible files, 82 % of the deposited files 14 194 files now investigated and closed, 84 % of the eligible files 64 % successful mediation • Contribution of mediation of the credit 9 025 companies consolidated in their activity 1,97 billion Euros of credit granted 175 741 jobs preserved in France

  16. Thank you ! sylvie.boyer92@orange.fr “Sooner or later comes a crisis in our affairs, and how we meet it determines our future happiness and success” Robert Collier, author,1885-1950 Boyer Audit & Conseil 32 rue Greffulhe 92300  Levallois-Perret, FRANCE Tel: +33 977 670 159 Mob: +33 685 349 093 Fax: +33 970 621 266

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