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Presentation on Global and Regional Trends and Development Impacting SMPs

Presentation on Global and Regional Trends and Development Impacting SMPs. Naba Krishna Muni, FCMA ICMA Bangladesh. Strengthening SMPs in South East Asia: A Way Forward Capacity Building through training and education Providing infrastructure & funds at cheaper rate

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Presentation on Global and Regional Trends and Development Impacting SMPs

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  1. Presentation on Global and Regional Trends and Development Impacting SMPs Naba Krishna Muni, FCMA ICMA Bangladesh

  2. Strengthening SMPs in South East Asia: A Way Forward • Capacity Building through training and education • Providing infrastructure & funds at cheaper rate • Understanding needs & expectations about SMPs from Institutes • Publishing research based publications for SMPs • Arranging hand holding exercise for SMP development by 4 big firms • Source: Report on SAFA SMP Survey, 2013

  3. Average Firm Size Practice – SAFA Region • Sole Practitioner = 55% • Having 2–5 Practitioners = 31% • Having 6–10 Practitioners = 10% • Having 11–20 Practitioners = 2.57% • Having Above 20 Practitioners = Less than 1%

  4. Challenges Faced by SMPs – SAFA Region • Compliance of regulation = 27% • Economic uncertainty = 21% • Pressure to lower prices/fees = 14% • Competition = 11% • Rising costs = 8% • Difficulties accessing finance = 3% • Lack of demand for services = 2% • Others = 8%

  5. Challenges Ahead for SMPs – SAFA Region • Attracting/Retaining New Clients = 23% • Pressure to lower fees = 19% • New regulations & standards = 18% • Competition = 12% • Retention of staff = 9% • Ability to adapt to client needs = 5% • Work-life balance = 5% • Keeping up with new technology = 3%

  6. Significant Issues for Accounting Profession – SAFA Region • Reputation & credibility of the accounting profession • Increased regulation – Money laundering & Combating financing of terrorism • Evaluate the needs of SMPs and SMEs • The competency of financial statements preparers • Auditors’ independence • Attracting new talents in the profession • Innovation in accounting and auditing – ICT • Corporate governance • Audit firm rotation • Government accounting • SUSTAINABILITY of SMPs/SMEs

  7. INSTITUTIONAL PROGRAMMATIC FINANCIAL Sustainability Model for SMPs

  8. SMPs SustainabilityMission/ Vision/ Planning Clients Vision Mission Goals Strategic Plan (3-5 years) Business Plan (1 year) Institutional Strengthening Activities Program Activities Finance Activities Clients

  9. Thank You Contact: E-mail: nkmuni@gmail.com Cell Phone: +8801711-148-569 Skype: nk_muni

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