On April 22, over 100 executives of auditing and consulting firms, as well as firms providing a wide range of valuation services – all members of the Intercom-Audit partner network – gathered together in the boarding house “Lipki” near Moscow to open the Forum. It was attended by delegates from more than 50 cities of the Russian Federation, Ukraine, Kirghizia, and Uzbekistan.
The Forum was traditionally supported by the Audit Chamber of Russia and the Russian Society of Appraisers.
The Forum participants meet annually to discuss the most topical issues of the industry. In 2010, the Forum focused on the strategies applied by regional auditing and consulting firms in the circumstances of economic crisis.
O.Gorina, Executive Director, Intercom-Audit ,
D.Grishankov, Director General, Rating Agency
Yury Fadeev, Director General for ACG Intercom-Audit, opened the Forum. Summarising the 2009 results, he particularly noted that in 2009-2010 the competition on the auditing and consulting market basically transformed to the competition between marketing services. The auditors ran out of their reserves for adjusting to the changed needs of the crisis – facing clients through optimised prices and reduced costs back in late 2008. Afterwards, those players who had built a wide client base before the crisis, and therefore could compensate lost or decreased income from some clients through the enhanced cooperation with others, enjoyed bigger success. However, the ability of marketing services to ensure the inflow of new clients, despite the weakening purchasing power, played even a greater role. Those companies whose marketing departments got actively involved in redistribution of clients showed the best results at the year-end.
That is why the events devoted to development of anti-crisis marketing strategies by auditing firms provoked the greatest interest among the Forum participants.
Olga Gorina, Executive Director for Intercom-Audit, chaired the round table “Experience of Developing Anti-Crisis Offer for Clients”. The Forum programme also included a number of seminars, such as “New Regulation Model for Russian Auditing Market. A Comparative Review of Self-Regulating Organisations”, “Practical Aspects of Audit-Related Services”, “Large Sale Techniques”, “New Opportunities of Intercom-Audit Regional Partnership”. The participants also found it very relevant and useful to take part in the training “The Art of Non-Stress Efficiency” held on the 2nd day.
Apart from that, there was a ceremony for awarding the winners of internal ratings of Intercom-Audit partners.
For executives of regional auditing and consulting firms, including those providing the complete range of valuation services, forums held by Intercom-Audit since 2004, have become a traditional platform to discuss the issues of industry development, education and to exchange experience in the application of service promotion and delivery techniques. Yury Fadeev,Director General for ACG Intercom-Audit summarised the Forum as follows: Informational transparency is the fundamental principle of developing efficient cooperation between the partners. Dialogue is the only way for intellectual service providers to adapt to the rapidly changing market and to devise strategies for surviving and enhancing their competitive edge.