Documentos de Académico
Documentos de Profesional
Documentos de Cultura
RSM
A monthly newsletter connecting the partners and staff of all RSM member firms
EyE
contents
European Business Awards: RSM firms across Europe celebrate the national finalists 2013 RSM Regional leaders Meeting Bob dohrer: investing in the future of our profession RSM in Europe: Expansion in france, Poland and into Sweden connected for growth & The global Engagement leader development programme digital Media & Marketing: RSM dTM demonstrate how engaging clients online can prove highly successful Social media highlights from across the RSM World: RSM dahman interview: Thomas ferreira, Regional leader for the northeast, Mcgladrey news in brief
To Think iS EASy. To AcT iS difficulT. To AcT AS onE ThinkS iS ThE MoST difficulT
European Business Awards RSM firms across Europe celebrate the national finalists
The recent months have seen RSM firms all over Europe host events for the national finalists of the categories in the prestigious European Business Awards 2012/13 programme. Events were held in cyprus, denmark, france, germany, greece, ireland, netherlands, Turkey and the uk. Photos below showcase just a small selection of the events. for the 2013/14 programme, we have secured lead Sponsorship of the European Business Awards. With this sponsorship brings a host of exciting opportunities for RSM members to get involved and benefit from the various aspects of the programme. look out for more details in the february edition of RSM Eye.
The event was excellent, the Minister of commerce & Trade attended and made a speech about the economy and EBA. The attendees really appreciated the effort.
We very much enjoyed the evening and the celebration. it was a great opportunity to meet representatives from such high calibre companies in germany.
gregor Schmidt RSM germany
TuRkEy
gERMAny
#EBAs_2013 #RSM_World
iRElAnd
from 7-9 January, the Regional leader for Asia Pacific (neil hough), Europe (Robert coles), latin America (Bob Burdett), north America (frank leBihan), Middle East (Bassam dahman) and Africa (clive Betty) gathered in london for a three day meeting with our cEo, Jean Stephens.
The regional structure is an essential component of the RSM network and the meeting provided the opportunity to discuss ways of greater utilisation of this structure for the good of all member firms. it also provided a forum for the
Regional leaders to discuss priorities for the year ahead and to agree goals for the next 12 months and discuss any arising issues. This was the first year the Regional leaders for north America, Middle East and Africa joined the meeting - an important step in the development of these regions and greater cooperation between the network as a whole. The three days left little time for rest with topics such as regional development plans, inter-region business development, brand development, regional conferences and training filling the agenda. The Regional leaders also met with staff in the
Executive office to receive and discuss updates on the status of current and upcoming projects. The primary outcome of the meeting was an agreed action plan that included central and regional specific actions, as well as alignment of regional direction with the global business plan. The meeting was seen by all to be a very productive and positive three days that will result in further inter-regional development that will benefit everyone within RSM.
Ellen costa Manager - corporate development RSM Executive office ellen.costa@rsmi.com
Date
21 February
Webcast Details
IAS 26 Accounting and reporting by Retirement Benefit Plans - Emile Wolfe training presented by Ian Charles - 8am and 4pm (GMT)
Contact
Sarah Watson sarah.watson@rsmi.com
how would you rate your profession today? Whether your specialty is audit, tax or consulting, our profession has been subject to a significant level of public criticism recently. But how would you say we are doing? Are we meeting or exceeding the expectations of our clients? Are we meeting the expectations of regulatory bodies? if you are not able to say that we always exceed, or at least meet the expectations of our stakeholders, then what is holding us back? dedication to outstanding client service is, and should be, the highest priority for all of us, but what is it that frustrates us or makes it difficult to serve clients to their fullest expectation? Some would respond to these questions by saying that cumbersome, outdated and overly restrictive rules, regulations and professional standards under which we operate sometimes prevent us from being able to provide exactly what our clients want. So, what can we do with regard to issues that we view as road blocks to client service? There are several courses of action we can take: we can passively accept our circumstances; we can complain about the issues or use the road blocks as excuses; or we can proactively work to remove the road blocks and create an environment which fosters excellent client service for not only us but for those that will be joining our profession in the future.
i hope that you choose to proactively respond to issues and thereby better our profession going forward. one way to confront these barriers is to simply let your voice be heard. for example, on 15 January, the international Auditing and Assurance Standards Board (iAASB) released for public comment a new consultation paper seeking feedback on A framework for Audit Quality. Standard-setting bodies like the iAASB cannot develop professional standards in a vacuum; they need the input of people like you and me. i know from my own experience on boards that the standard-setters do take your input seriously. This particular iAASB project seeks to define just what audit quality is and to identify the factors likely to maximise the likelihood of achieving audit quality. RSM will be issuing a comment letter to the iAASB in response to their request and it is important we gather the thoughts of the membership to help us form our response. The iAASBs consultation paper can be accessed from the iAASBs website (www.ifac. org/auditing-assurance). if this is an area in which you are involved, please take a little time to read the paper and invest in the future of our profession by taking a few minutes to email or call the technical team in the Executive office with your thoughts. not only is it important that we invest in the future of our profession, it is also important that we invest in RSM. The RSM Transnational Assurance Services
Standard-setting bodies like the iAASB cannot develop professional standards in a vacuum; they need the input of people like you and me. i know from my own experience on boards that the standard-setters do take your input seriously.
Executive committee (TASEc), centres of Excellence and the RSM Executive office, all work very hard to provide our member firms with the highest quality policies, procedures, methodologies, tools and training. We also want our member firms to be as profitable as possible when using our methodologies and tools. But, we know we dont always hit the mark. So please invest in RSM by picking up the phone, or writing an email to the Executive office, when you see something that you think could be improved. We know that everyone is busy and focused on serving clients but please take a little time to help us all get better we cannot do it without you.
Bob dohrer global leader - Quality & Risk RSM Executive office robert.dohrer@rsmi.com
other contacts:
RSM Eye | June 2012 RSM in Europe Expansion in france, Poland and into Sweden
connected for growth and the global Engagement leader development programme
2013 will see the roll out of the connected for growth tools and the global Engagement leader (gEl) development programme. All this activity will positively impact your firms; we are therefore going to provide a monthly update on what is happening and when via RSM Eye. The global leadership Team is comprised of three members; Robert coles (Regional leader - Europe), neil hough (Regional leader - Asia Pacific) and keith Wallace (Partner, Mcgladrey). in this months article we will begin our initial update by outlining the deliverables and the future deadlines and activities.
Deliverables With the help of many in the network, by end of March 2013 we will have created working drafts for the following: The STAR Pricing Model, enabling us to capture and utilise pricing across 12 service lines from all firms worldwide, making our response time to RfPs and tenders so much more integrated and effective. The global Scoping tool, allowing us to focus on efficiency of utilisation and hours, making us more competitive, whilst protecting firm margins. The key Account development Plan, which will allow cross-firm teams around the world to build a business picture of a current or potential client quickly and effectively, maximising our chances to understand the client and win opportunities. The global Tender Process PlayBook, that will allow global Engagement leaders and their worldwide Engagement Teams to work to a structured flow of activity that allows us to monitor our effectiveness across many opportunities and continuously improve the way we work together as a network.
Deadlines & Activities We currently have a global team developing the first phase of the gEl development programme. This will begin with an intensive four day kickoff meeting, provisionally scheduled for July 2013. during february and March, we will be discussing and finalising the first cohort of gEls. These will be announced by the end of March. There will be representatives from all main regions, as our work is increasingly global and our clients increasingly sophisticated. The gEls will become the core of our future ability to engage with global clients, compete effectively against other networks and win more business, more frequently and more profitably. There is a great deal going on and there will be much achieved this year. We would like to thank all firms that have offered resources and expertise in developing connected for growth tools, processes and programmes. We cannot deliver this project without you. We will be approaching you soon for your fee rates for the STAR model and for feedback on your gEl candidates. help us by responding as effectively as you can. We truly value your support. look out for new ways of doing things, that will help make us all connected for Success!
27 - 30 october
okura hotel | Amsterdam | The netherlands
Digital Media & Marketing RSM dTM demonstrate how engaging clients online can prove highly successful
150
NATIONAL PRESS
blog posts
429,082
blog pageviews
1,005
1,047
In December, RSM DTM hosted an online annual tax update conference, attracting over 1000 attendees.
Most financial advisory firms organise traditional conferences to inform their clients about next years tax changes. understanding these changes and gaining a well-structured overview is of vital importance to responsible managers, cEos, cfos and chief Accountants. yet, the year-end is one of the busiest periods for such people; finding the time to travel to and attend a half day conference programme can prove difficult. Alongside other factors, time scarcity during the year-end period prompted RSM dTM to host an online tax conference, an initiative never before undertaken in the hungarian market. Edina Vradi, the firms marketing coordinator said: We knew it would be a more flexible and comfortable alternative to interested parties and would help us preserve our image as a technology driven tax firm. in order to avoid limiting the marketing and PR impact of an online conference we decided to make it available free of charge to anyone expressing interest and with moderately fast internet access. The technical background work begun in mid-november, following the Ministry of national Economys acceptance of the firms invitation to participate in the conference.
The conference was designed to break down into several sections, orientated around seven central topics. Each topic was presented as a discussion between the responsible representative of the Ministrys tax department, and their RSM dTM counterpart, giving a talk-show feel to the conference. The conference was aimed at potential clients rather than the competition. conference themes: Taxation: Theory and policy and legislation in hungary Accounting 2013: Simplification and cash flow based VAT Personal income tax: itemised taxation of small taxpayers - the area of super gross accounting is over Corporate Tax Act: Taxation of small enterprises small and medium enterprises in decision-making situations VAT: More detailed content accelerating administration Act on the Rule of Taxation: Serving the efficient operation of the tax authority Local business tax: Public utilities tax local business tax gets bands
Marketing & PR highlights new subscribers to RSM dTM newsletter Blog posts published regarding 2013 tax changes; online conference was mentioned in all posts Radio advertising: 20 radio spots in one week on the most popular financial radio network Pop-up boxes on RSM dTM webpage and all microsites advertised the event facebook event: 206 people joined the conference via facebook & 56 more followers were gained increased number of posts on linkedin, Twitter and google+
The banner above features highlighted statistics for the RSM dTM digital marketing campaign in 2012. for further details on any of these initiatives, please contact:
Edina Vradi Marketing coordinator RSM dTM | hungary edina.varadi@rsmdtm.hu
Event
RSM European Regional Council meeting, Amsterdam RSM International Board of Directors meeting, London RSM Asia Pacific Conference, Kuala Lumpur RSM Latin America Conference, Cancn RSM Academy, Eindhoven RSM Europe Conference, Budapest RSM World Day RSM International Board of Directors meeting, London RSM World Conference, Amsterdam
Contact
Katja Reinke, RSM Europe Ellen Costa, RSM Executive Office Lynnette McGowan, RSM Asia Pacific Bob Burdett, RSM Latin America Sarah Watson, RSM Executive Office Katja Reinke, RSM Europe Gillian Hawkes, RSM Executive Office Ellen Costa, RSM Executive Office Sarah Watson, RSM Executive Office
Interview
RSM Eye talks to Tom ferreira, Regional Managing Partner (northeast) at Mcgladrey and the 2012 RSM Annual conference chair. Tom discusses the signs of growth and positivity in the uS economy and how connecting together as a network is critical in enabling us to deliver first class client services.
You have been in the profession for 25 years, serving clients in both the private and public sector, in the US and abroad, and are on the Board of Directors for McGladrey. What is McGladreys strategy to remain competitive and ensure the highest standards of client service in the American market? great question. one of the key market dynamics affecting our strategy is the globalization of the American market. let me share our response to this dynamic as well as our overall strategy. over the past year we have redefined our firms vision, purpose, values and strategy to guide our future success. We are focused on becoming the first-choice advisor to middle market
leaders, and we are aligning all of our activities behind that vision. To be the first choice advisor, we identified the need for a robust industry focused platform to provide integrated and relevant services to our middle market clients. To that end, Managing Partner and cEo, Joe Adams, named Mendy nudelman as the firms national industry leader in July 2012. nudelman has subsequently named leaders for each of the firms major industries to ensure consistent quality, training, methodology integration and go-tomarket activities. These changes will allow us to continue to deliver relevant solutions to clients, based on specific industry needs in the face of complex, evolving regulatory requirements.
ongoing changes to the firms consulting organization have further encouraged growth. The changes were so effective, in fact, that the consulting line of business (which provides more than 50 different services to our clients) grew more than 11% over the past year (a five-fold increase over the previous years rate of growth), leading the way for our firms yearon-year revenue growth. in addition, the acquisition of forward hindsight in october 2012 positions Mcgladrey as a leading provider of cloud-based enterprise resource planning systems, an area of significant growth for the firms technology consulting practice. our consulting line continues to enhance and introduce innovative market relevant capabilities (e.g., iPo readiness, security and privacy, and
mobility consulting) and to provide seamless services that focus on client value, accommodating growth and meeting clients evolving needs. Mcgladrey intends to accelerate hiring in its consulting line, and expects a 20%+ growth in fTEs (full-time equivalents) over the coming year to accommodate the firms growing portfolio of clients. We are actively seeking high-calibre talent for the team at all levels from direct campus hires through to senior partners. in addition, we are investing in our people by providing superior learning and professional development opportunities, and in our already robust, comprehensive knowledge portal to ensure that the best tools are available to ensure consistent, high-quality experiences for clients. After providing all employees with iPads earlier in the year, we have been using the tool to help our employees become more effective and efficient. We have also developed a number of apps; these include a Vision app, which gives employees easy and continuous access to our vision, mission and values and a Talent connection app which aids our professionals in connecting with expertise and specialized knowledge across the firm. 2012 was a banner year for Mcgladrey in terms of giving back to the communities in which our employees live and work. in november, more than 2,500 employees and clients participated in over 190 volunteer activities across the country as part of the firms annual Volunteer day. The third annual Mcgladrey classic raised $400,000 for Special olympics, Boys and girls clubs of Southeast georgia and other deserving charitable organizations. Since its inception in 2010, the tournament has raised over $850,000. Employees contributed more than $275,000 to united Way through our payroll deduction campaign and more than $50,000 for those affected by hurricane
Sandy last autumn. The firm also set up a relief fund to support Mcgladrey employees affected by the hurricane. There has been a great deal of media attention in recent weeks over fiscal uncertainty in the US. What is your view on the US economy and what effects do you see current economic conditions having on McGladrey clients? At Mcgladrey, were seeing growth across all three of our lines of business assurance, tax and consulting. This growth is fuelled by current and anticipated client demand, and we are hiring across the country to support our vision of being the first-choice advisor in our markets. While Mcgladrey serves a variety of industries, one of the largest is manufacturing and distribution. Based on the most recent results from our annual Mcgladrey Manufacturing and distribution Monitor, as well as a small-sample interim survey, those clients are somewhat less optimistic than they were previously, due primarily to the fiscal cliff and other tax-related uncertainties. With the fiscal cliff addressed, however, (at least until March 2013), sentiment will likely change. in fact, on 2 January 2013, the institute for Supply Management reported that its manufacturing index rose to 50.7 in december from a three-year low of 49.5 in november. Bloomberg news said the uptick in manufacturing reflects growth in orders, employment and exports and indicates the uS expansion will be sustained in 2013 following the budget deal. Another positive indicator, the most recent jobs report, showed that uS employers added 155,000 jobs in december 2012. This stable, albeit modest, hiring indicates that employers didnt panic over fiscal cliff talks, which is a good sign for the coming months since more budget discussions are anticipated. companies ordered more longlasting manufactured goods in
november 2012, a sign that they are investing in more equipment and software. in fact, in the most recent Mcgladrey Manufacturing and distribution Monitor, respondents indicate that they will increase their investment in capital spending by 12% in the coming year, with information technology being the top priority for these capital expenditures. And, in spite of challenging macro-economic data and uncertainty regarding the regulatory landscape, our clients have been bullish about the future. Many are investing heavily in discretionary consulting initiatives that can help them improve their competitive position and effectiveness. They are implementing next-generation technologies such as cloud and mobility computing, business intelligence and advanced analytics to drive performance. Mcgladreys professionals have the experience needed to help our clients implement these technologies effectively and efficiently. So, at Mcgladrey, i am pleased to say that we are expecting and planning for an overall improvement in the uS economy. Are you working or any cross border projects with other RSM member firms at the moment? yes, i am working with several clients on international opportunities that involve other RSM member firms. for example, one of my clients is the worlds largest franchiser, in terms of the number of shops it operates worldwide. its parent company is privately owned and located in connecticut, not far from my office. When we first started working with the company about five years ago, it was going through a great deal of pain trying to comply with regulatory requirements in several countries in which it operated. The client was using a disparate group of firms within these various countries and was struggling with creating an efficient process to oversee and manage work across-the-board
whilst ensuring deadlines were being met. language and cultural barriers exacerbated the problem. Working with Mcgladreys international Services office (iSo), we assembled a group of RSM member firms to join the pursuit and, together, we prepared a coordinated global compliance approach, leveraging our international services office to oversee deliverables and manage a centralized billing process for the client. i served as the client service coordinator, providing a local point of contact in managing the relationship. our ability to provide global resources, with local high-touch client service, proved to be a differentiator in the sales process and we successfully landed the initial engagement. This included statutory audits, tax compliance, and consulting and business advisory services for the companys operations in several countries and for the franchises advertising fund. With the help of our primary iSo contact, Marina deMassi, and others in the iSo, our expatriates, domestic iTAX experts and the other RSM member firms, we have expanded that relationship to provide statutory audit and tax compliance services in more than 20 countries. This involves many RSM firms with fees for all parties involved totalling more than $1 million, including a PMo fee that Mcgladrey charges to manage service coordination and consolidated billing for the international work. The client has been pleased and continues to engage us for work in other countries around the world and within the uS. last year, the company was having difficulties with the firm servicing its work in Mexico, and was concerned about not meeting its compliance deadlines. We introduced RSM Bogarn, who did an outstanding job of smoothing out the transition and completing the work on time. Theyve since won additional accounting, tax and payroll work with the client. Also this year, the company announced
expansion plans for its second most promising brand in the uS, and Mcgladrey was hired to complete the financial statement audit to prepare for the expansion. We have since won the audit and tax compliance work for the brands current operations in the uS and canada. in April, i will accompany the clients two key international management team members to Europe to introduce them to RSM member firms in france and the netherlands and to visit RSM germany to discuss work that they are already providing. i have similar success stories with other clients. The value of this model is the ease with which we can bring global resources to our clients with a single, local point of contact to manage and streamline the service delivering and billing for the client, removing a huge burden from their team. This approach is much aligned with Mcgladreys strategy and the needs of our clients. Today, we estimate that over 40% of our clients are involved in international business interests. Describe an important lesson you have learned during your career? ive learned many lessons throughout my career but, in retrospect, they are all connected to one key element: an unrelenting focus on the client. if you are focused on the client understanding their business, their challenges and their goals and tailor your approach to help them succeed, everything else will fall into place. client retention, growing your business, expanding services, attracting the right talent and mentoring and training your people; all flow from this understanding of clients. getting to know, and truly understand, your clients requires listening. it takes discipline to ask good questions and to train yourself to listen carefully to what the client is telling you, rather than jumping to conclusions. The complexity of our clients challenges requires a thoughtful approach;
often it takes a team of technical and industry experts working with the client to develop truly relevant solutions. clients are looking for a broad range of insights and expertise to grow and increase the value of their business. They need a trusted advisor who can provide a point of view and back it up with expertise, resources and services. So, to summarize the lessons ive learned; focus on the client and whats important to them, listen and understand your clients needs and work collaboratively with the client and your internal teams to develop meaningful solutions. What (or who) has been the biggest influence throughout your career? Early in my career, i was influenced by two people a managing partner and a client both had a profound effect on my career. on my first day in public accounting, the managing partner told me to focus on building relationships. he said the people you develop relationships with early in your career might someday be decision-makers or key influencers, and that i should build relationships that last. The client told me to focus on serving the client and if i do that, everything else will fall into place. he was right, and i can point to a number of client success stories, including the one i described above, that showcase the benefits of keeping your focus on providing clients with exceptional service. Aside from work, what are your personal goals? i have many personal goals, but i would say that these are my top three: Putting family first: i have a wonderful family and supporting and providing opportunities for them is my highest priority. giving back to the community: getting involved in the community is part of being a good citizen. ive been active
increasingly, clients are looking to us to help them achieve their global business objectives. And that means we must be able to connect them with expertise and resources in the places where they do business, or want to do business, around the world. in todays global economy, if we cant connect the dots for our clients on a worldwide scale, we are no longer relevant.
in various non-profit organizations over the course of my career. i am past-president and a current board member of the Valley Shore yMcA, chairman of the board of Junior Achievement of connecticut, pastpresident of the boards of directors with the Volunteer Action center of new haven, new haven chamber of commerce and family Business Program at the university of connecticut and several other civic and community organizations. having a balanced life: i like to work hard and play hard. So, spending time with my family and friends and pursuing personal interests are very important to me. i have a demanding work life, but i make time for my personal relationships and the things that im most passionate about or that allow me to recharge so im more effective in my professional pursuits. You chaired the 2012 RSM Annual Conference last November in London. What were the highlights of the event for you? for me there were three key highlights. first, ive known RSM cEo Jean Stephens for many years, and the conference gave me an opportunity to work closely with her and her team. i appreciated the chance to plan and execute an event that provided such relevant
information to our member firms about the challenges and opportunities in an increasingly competitive global business environment. Today, over 40% of Mcgladreys clients are internationally active, with operations, sales and/ or suppliers around the world. As the economy continues to improve, the level of international activity will increase. These clients have complex, diverse and sometimes very unique needs. And they need business advisors who can help them navigate the multitude of compliance and business issues that can either advance or impede their global business strategies. This conference was about becoming the best at understanding the needs of our clients on a global scale and bringing together the strength of RSM in a seamless delivery model to provide insights, services and resources anywhere in the world where clients do business. We are stronger together and we have the client success stories to prove it. Second, i really appreciated being at the conference in the capacity of conference chair as it gave me access to many more members and highcalibre speakers than i would normally have been exposed to. i made some great contacts at the conference that are continuing to develop.
finally, the overall theme of the conference was right on target making successful connections; connections with our staff, our clients and with each other. it summed up why we were all there. improving our connectivity is critical for us to be truly successful at delivering world class client service and expertise on a global scale. increasingly, clients are looking to us to help them achieve their global business objectives. And that means we must be able to connect them with expertise and resources in the places where they do business, or want to do business, around the world. in todays global economy, if we cant connect the dots for our clients on a worldwide scale, we are no longer relevant. And, this is where our connectivity through our memberships in RSM becomes truly powerful. The conference fulfilled its objective of helping our member firms connect with each other and identifying opportunities to leverage our collective strengths to serve clients better.
Sources
news in brief
you!
if you have news you would like to share with the network, please send your news in brief article to samantha.hannaford@rsmi.com. Maximum 100 words please!
8%
Webcasts
The webcast programme continued through december, with the following webcast taking place: - iAS 2 inventories and ifRic 12 Service concession - Emile Wolfe training presented by ian charles We would like to thank the presenters for sharing their expertise and time to present webcasts. if you missed this webcast you can download the recording from RSM connect.
Expansion
RSM MBV & Associs joined RSM france, becoming RSM Paris. RSM Poland kZWS acquired Baltic Accountants & consultants kurt iversen. Please see page 7 for more details.
Blog
Read the latest insights, thoughts and opinions from Jean Stephens and guests via her blog. www.rsmworldblog.com Recent blog posts include: - Bridging the gap between management and boards - honouring Europes finest businesses Take a look and subscribe now!
MENA Region
libya, Algeria, Tunisia, Morocco, Mauritania and north and South Sudan will now be included in the RSM Middle East & north Africa region. for further details, please contact the RSM Regional leader for the Middle East, Bassam dahman (bassam@rsmdahman.com).
Kenya
Ashif kassam, the group chief Executive of RSM Ashvir, was awarded The order of the grand Warrior of kenya (ogW) by the President of kenya, hon. Mwai kibaki. Announced on kenyas independence day, celebrated on 12 december 2012, Ashif was awarded for his role in advising the kenyan Treasury on the matter of Privatization of State corporations and for his immense contribution to the development of the accountancy profession in kenya. This honour follows the AccA Achievement Award 2012 which was awarded to Ashif in June 2012 by AccAs global council for his contribution to the accounting profession locally and globally. congratulations Ashif!
Wishing everyone across the RSM world a happy and prosperous 2013
Next issue
The next issue of RSM Eye will be published in february 2013. if you have any news or information that you would like to include in this newsletter, please contact:
RSM is the brand used by a network of independent accounting and advisory firms each of which practices in its own right. The network is not itself a separate legal entity of any description in any jurisdiction. The network is administered by RSM international limited, a company registered in England and Wales (company number 4040598) whose registered office is at 11 old Jewry, london Ec2R 8du. The brand and trademark RSM and other intellectual property rights used by members of the network are owned by RSM international Association, an association governed by article 60 et seq of the civil code of Switzerland whose seat is in Zug. RSM international Association, 2012