- Leveraging the expertise of BKR firms
- Membership of BKR ensures global contract for VAT registration in 9 countries
- A company's global expansion with BKR International
- French BKR firm instrumental in achieving result for client of London firm
- BKR presence in Guernsey proves valuable for Mumbai firm
- Treatment of employee expenses across multiple jurisdictions
- Multi-jurisdictional payroll, accounting and other professional services
- Cross-border: Italy to France
- International tax planning
- Reaching out from Turkey
- Cross-border accounting and consulting services
- Global Transfer Pricing reports
- BKR International inter-firm collaboration
BKR presence in Guernsey proves valuable for Mumbai firm
Tim Lowe of our member firm Lince Salisbury (Guernsey, Channel Islands) was approached by Vikas Kumar, a Partner at T. R. Chadha & Co. (Mumbai, India) with a view to undertaking an audit of the holding company for an Indian Group of companies. It transpired that the bulk of the group audit was to be completed in Mumbai and Cyprus by T. R. Chadha & Co. The size of the business and its location made it difficult for Lince Salisbury to be the lead auditor. Having liaised with Simon Wagman of Blick Rothenberg (London, United Kingdom), it was quickly determined that it would be better for T. R. Chadha & Co. to be the lead auditor and for Lince Salisbury to conduct their work on behalf of our Mumbai firm.
Therein lay the second problem. Guernsey law only allows for a Guernsey regulated business to perform audits in Guernsey. The law did allow other external firms to conduct audits but only if they had been given licence by the States of Guernsey (the government). Following a few phone calls with the Commerce & Employment Department and Law Officers at the beginning of March 2012, it was determined that no other non-Guernsey audit firm had been approved in this way and it was arranged for the relevant requirements to be communicated to T. R. Chadha & Co. by the Law Officers.
Tim is pleased to report that his firm successfully facilitated the process and on 16th April 2012 T. R. Chadha & Co. became the first Indian Audit firm to be appointed as an external approved audit firm in Guernsey, with the approval being valid for 3 years.