continued - Crowe Horwath

Connections
The Newsletter of Crowe Horwath International
CEO Update
The Americas Regional Meeting 2010
The 2010 Americas
Regional
Meeting just concluded,
and I
sensed a lot of
positive energy and
a feeling of
momentum building
among the participants.
The meeting, held from May
12th to 14th in São Paulo, Brazil,
included a total of 74 delegates from 20
countries, and focused on recent developments
in the region, on growth
opportunities both regionally and internationally,
and on some of the technical
issues facing individual firms. In addition
to representatives of firms from the
Americas region, we were joined by
representatives of firms in Spain, Hong
Kong and the United Kingdom.
The meeting’s agenda included the
following:
Audit | Tax | Advisory
• regional and global updates
presented by the Americas
Regional Executive Eduardo
Pestarino and myself.
• reports on the four Strategic Initiatives
in our Strategic Plan for
2010-2013 by Crowe Horwath
International’s Management Committe
members.
• a presentation on Business
Opportunities with Europe and
Asia, by Delores Teh from Crowe
Horwath (HK) CPA Limited in
Hong Kong and Adria Royes from
Crowe Horwath Auditores in Spain.
• four technical sessions focusing
on Accounting & Assurance,
International Tax, Global Corporate
Advisory and Hotel, Tourism
& Leisure.
In addition to informative presentations
and social networking activities
during the conference, participants
From left: Crowe Horwath International CEO Frank Arford and Americas Regional Executive Eduardo
Pestarino with Crowe Horwath RCS Managing Partner Raul Correa da Silva who hosted the Americas
Regional Meeting in São Paolo, Brazil
celebrated the retirements and past
contributions of two people who
helped build the network in South
America: We thanked both Salvador
Conti, of the firm Soteconti, and José
Bendoraytes, founder of Rio de Janeiro
member firm and father of its current
Managing Partner, Jose Bendoraytes,
for their hard work in building the foundation
of our network in South America.
Presentations and photos of the
meeting can be downloaded in
the ‘members only’ section of
www.crowehorwathinternational.com.
Special thanks to Raul Correa da Silva
and the partners and staff of Crowe
Horwath RCS for their support in organizing
a very successful meeting!
More photos in Americas Region section
Frank B. Arford
Chief Executive Officer
Inside this Issue:
May 2010
Achievements 2
New Clients 3
The Americas Region 3
Europe, Middle East & Africa 5
Accounting & Assurance 7
Global Demand Creation 8
Mark Your Calendar! 9
www.crowehorwathinternational.com

Achievements
WHK Horwath (Australia) Acquires Hayes Knight (WA)
WHK Horwath Perth
Chief Executive
Geoff Kidd
Audit | Tax | Advisory
WHK Horwath recently announced the
acquisition of Osborne Park firm, Hayes
Knight (WA) effective April 1st.
According to WHK Horwath Perth Chief
Executive Geoff Kidd, the acquisition has
major benefits for Hayes Knight (WA)
clients and staff, “The clients of Hayes
Knight (WA) will gain access to a wider
range of resources in key areas such as
Specialist Tax Consulting, Audit and Corporate
Finance. Hayes Knight’s staff will
join WHK Horwath who is part of the publicly listed company,
WHK Group. Being part of a larger group will provide staff
with greater opportunities for career development and learning.
It’s a win-win situation.”
“The addition of the well respected business advisory firm of
4 partners and over 20 staff will strengthen our service offering
to the SME market” Mr. Kidd added. This acquisition will
Horwath Clark Whitehill (UK) has won the ‘Mid-Tier Auditor
of the Year’ award for the third time, and for the secondyear
running, at the Financial Directors’ Excellence Awards,
held in association with the Institute of Chartered Accountants
in England and Wales (ICAEW). These awards recognize
the nation`s exemplary financial directors and the principal
suppliers of services to the UK’s finance director community.
The awards were held on 12 May 2010 at the London
Marriott hotel.
Approximately 1,000 Financial Directors were surveyed and
asked to rate a selection of mid-tier auditors, including Horwath
Clark Whitehill, on aspects such as speed of process,
value for money and quality of service. Horwath Clark Whitehill
(UK) received a special mention for its quality of service
and value for money.
This is the third time that HCW has received this award having
won the inaugural award in 2005 and again in 2009.
Andrew Pianca, Chief Executive, Horwath Clark Whitehill
said, “We are delighted to be awarded Mid-tier Auditor of the
Members of Hayes Knight
May 2010
create one of the largest business advisory firms in Perth,
with over 120 staff.
The WHK Group is ranked the 5th largest accounting firm in
the Australian market as shown in last year’s BRW Top 100
accounting firms, with revenue in excess of $350 million.
Horwath Clark Whitehill (UK) Wins Mid-Tier Auditor of the
Year for Third Time
Members of the HCW Corporate group accepting the award from Michael Izza,
CEO of the Institute of Chartered Accountants in England and Wales (ICAEW).
Year for the second year running and for the third time in
total. It is a privilege to be acknowledged by so many finance
directors and to be recognized for our continuous quality of
service and value for money.”
www.crowehorwathinternational.com
2

New Clients
Crowe Horwath International Committee Helps Horwath Mak
Ghazali LLC (Oman) Win
Horwath Mak Ghazali LLC (Sultanate of Oman)
has been engaged for the internal audit assignment
of the The Zubair Corporation, one of the
largest family owned business groups in the Middle-East.
It operates in a wide range of industries
out of Oman in the Middle-East, India, the Far-
East, Europe and the USA.
This assignment was won with the support of Mr.
Louis Cooper, who leads the Risk Consulting
Steering Committee for the EMEA Region. Louis’
assistance with the proposal and engagement
letter helped demonstrate to Zubair’s Board the
Audit | Tax | Advisory
May 2010
professional approach, experience, expertise,
and IT audit tools Horwath Mak Ghazali could
bring to the project.
Horwath Mak Ghazali LLC was also awarded the
tender for a Customer Satisfaction survey for the
Oman Wastewater company SAOC, recently
renamed as Haya Water. Haya Water, a company
government owned company, is in charge of planning,
designing and implementing all systems and
processes needed to operate and maintain a
wastewater system in the Governorate of Muscat.
The Americas Region
Horwath Colombia Partner Named to “600 Successful Women” List
Horwath Colombia Audit Partner Yaneth Romero
has been included in the “Colombian leaders, 600
Successful Women” publication of the finance and
economy magazine “La Nota Económica”.
This spring, Crowe Horwath LLP’s partner Derek
Bang traveled to the United Kingdom as part of a
study mission to better understand how foreign
governments are providing healthcare for their
citizens. Derek was one of 20 US delegates who
participated in the mission, hosted by the UK
Trade and Investment and the Nashville Health
Care Council. They examined British and Scottish
healthcare systems, met with clinicians, business
executives, policymakers and other dignitaries,
including the national director for Health,
Work and Well-being in the UK Department for
Work and Pensions.
Davis Kallukaran
Managing Partner
Horwath Mak Ghazali LLC
This annual publication is based on a survey performed
among the most important firms representing a wide
range of industries in the Colombia. In the 2010
edition, only four of the 600 women mentioned
work in the audit industry.
Crowe Horwath LLP’s on Healthcare Study Mission to UK
Crowe Horwath LLP partner
Derek Bang
Beyond this study, Crowe Horwath International is
working to understand and validate international
trends in healthcare systems through internal
research groups and member firm discussions.
Through Value Creation funding, Crowe Horwath
LLP also is exploring opportunities for its Revenue
Cycle Analytics (RCA) solution with healthcare
organizations abroad.
For more information, contact Derek at:
derek.bang@crowehorwath.com
www.crowehorwathinternational.com
3

May 2010
The Americas Region continued
Photos from the Americas Regional Meeting 2010 in São Paolo
Presentations and photos of the meeting can be downloaded in the ‘members only’ section of www.crowehorwathinternational.com
Partners and staff of Crowe Horwath RCS RCS attending the main conference
of the2010 Americas Regional Meeting
Merys Jonis and José Francisco, Eneyda Mercedes de Diaz, Juan Diaz and wife
(Dominican Republic), Raul Correa da Silva (Brazil) and Paula Doig (Canada)
Audit | Tax | Advisory
Mercedes and José Penabaz (Puerto Rico), Osvaldo Casalánguida (Argentina)
with Americas Regional Executive Eduardo Pestarino (left)
Daniel Fortín (Honduras), José Romero (Ecuador), Juan Carlos Lara (Costa
Rica) and Gabriel Llamas (México)
Partners from Crowe Horwath RCS (Sao Paulo) and Horwath Bendoraytes Aizenman (Rio de Janeiro) with Salvador Conti (former partner in Brazil) and Jose
Bendoraytes Sr. (founder of the Rio de Janeiro firm). Both received an award for their contribution to the development of Crowe Horwath International in Brazil
www.crowehorwathinternational.com
4

Horwath Clark Whitehill has been named Accountancy Firm
of the Year in the ‘Six to 25 Partner’ category by the Institute
of Chartered Accountants in the West Midlands region. The
award was presented at the Institute of Chartered Accountants
in England & Wales annual awards lunch held at the
Botanical Gardens in Birmingham.
“We are absolutely thrilled”, said managing partner
Johnathan Dudley. “With all the economic uncertainties that
have beset business and the country over recent months
and years it’s never been more vital to support clients to the
fullest. We have sought to be highly proactive in doing so
and intend to further step up our response given that difficult
times are set to continue”.
The 2010 EMEA Tax Conference will be held
from June 17th to 19th in Dubrovnik, Croatia.
The program focus includes:
• how to market specialty tax services:
tax professionals will share their successful
experiences in selling and delivering
international tax services and discuss
how ITC initiatives can support the
network in achieving strategic growth.
• how to approach new targets: Mag. Dubrovnik, Croatia
Gottfried Schellmann, Chair of the Fiscal Committee of
the Confédération will lead a teal of presenters in delivering
a VAT plenary session and a workshop which will
May 2010
Europe, Middle East & Africa Region
Horwath Clark Whitehill Takes Top Award in the West Midlands
Audit | Tax | Advisory
From left to right, Richard Wherton (HCW), Andy Kay (HCW), Helen Drew
(HCW), Guy Morgan (HCW), Nigel Price (Begbies Traynor - sponsors of the
award), Johnathan Dudley (HCW)
Registrations Now Open for EMEA Tax Conference 2010 -
Dubrovnik, Croatia
encourage participants to either develop a
VAT specialty, or to liaise with specialists
from other member firms.
In addition, concurrent sessions are offered
on VAT, Transfer Pricing Consulting Services
and Expat Tax Services, topics found to be
highly popular at last year’s meeting. Each
delegate will be able to attend two of those
three sessions.
To register, please visit:
https://www.SignUp4.net/Public/ap.aspx?EID=CROW68E
TPA Horwath Group: “Investing in” 2010 Series Available
TPA Horwath Group recently released
the 2010 edition of its “Investing in …”
brochure series. This annual series
instructs on current tax systems in nine
countries of Central and Eastern
Europe. It also informs about the most
important changes in the Tax, including:
• Tax related differences among
business organization types;
• Details of corporate and personal
income tax in each country;
• Current tax concessions and
incentives;
• Core provisions of double taxation
agreements; and,
• Relevant facts concerning the
EU VAT package.
This series comprises brochures for Austria,
Bulgaria, Croatia, Czech Republic,
Hungary, Poland, Romania, Slovakia
and Slovenia. This years’ edition
addresses changes in the tax system
occurring in the region in addition to the
2010 VAT package that led to massive
EU-wide adjustments in VAT legislation.
To order brochures or for more information,
please visit www.tpa-horwath.com
or contact Christa Danner at
Christa.Danner@tpa-horwath.com.
www.crowehorwathinternational.com
5

Europe, Middle East & Africa Region continued
May 2010
Europe, Middle East & Africa Tax Facts 2010 Brochure Available
The 2010 edition of the Europe, Middle East and Africa Tax facts
brochure is now available in print and digital formats. The booklet
provides an overview of the tax systems in 54 EMEA countries
– 13 more countries than the 2009 issue. David Mellor of Horwath
Clark Whitehill (UK) and his team managed the project and
coordinated input from Crowe Horwath International member
firms that participated in producing this year’s brochure.
For print copies of EMEA Tax facts 2010, contact Andrea Strasser
at andrea.strasser@awt-horwath.de.
The brochure is also available to download in PDF format from
the Crowe Horwath International website at:
www.crowehorwathinternational.com/hw/tax/Publications/News/
documents/0041_EMEATaxFacts2010_FINALFORWEB.pdf.
To participate in the 2011 version of EMEA Tax facts, contact
EMEA tax committee chairman Manuel Rauchfuss at: manuel.rauchfuss@awt-horwath.de.
Crowe Horwath International Executives Meet with RWT Horwath
in Germany
On April 29, Crowe Horwath International
CEO Frank Arford, EMEA
Regional Executive Bernard Delomenie
and Crowe Horwath International
Board of Directors member Klaus
Bauer-Mitterlehner met with 20 RWT
Horwath Partners in RWT Horwath’s
offices in Reutlingen, Germany. Philipp
Neumann from RWT Horwath gave a
presentation on recent developments
and brand strategies in the German
market. Participants took the opportunity
to exchange views on how to promote
the Crowe Horwath International
global brand in Germany.
Horwath Mak Participates in Largest Education Forum in the
Middle-East
Horwath Mak participated in the Gulf
Education & Training Exhibition
(GETEX), the largest education forum
in the Middle East and Asia, organized
in Dubai, UAE. This year, this major
event was held under the patronage of
H.H. Sheikh Nahayan Bin Mubarak Al
Nahayan, Minister of Higher Education
& Scientific Research of the UAE.
Audit | Tax | Advisory
From left to right: Eddy Winters (ICAEW), Deborah
Amara (ICAEW), Jovy Pereira (CFAB student), Zayd
Maniar (International Liaison Partner, Horwath Mak)
The countries included in the EMEA
Tax facts 2010 are: Austria, Bahrain,
Belgium, Botswana, Bulgaria, Croatia,
Cyprus, Czech Republic, Denmark,
Egypt, Estonia, France, Georgia,
Germany, Greece, Hungary, Republic
of Ireland, Iran, Isle of Man, Israel, Italy,
Jordan, Kenya, Kuwait, Latvia, Lebanon,
Liechtenstein, Lithuania, Luxembourg,
Malta, Mauritius, Morocco, Netherlands,
Nigeria, Norway, Oman, Palestine, Poland,
Portugal, Qatar, Romania, Russia, Saudi
Arabia, Slovakia, Slovenia, South Africa,
Spain, Sweden, Switzerland, Tanzania,
Tunisia, Turkey, United Arab Emirates
and the United Kingdom.
According to Zayd Maniar, International
Liaison Partner of Horwath Mak,
“Participation in such events provides
member firms a unique way of promoting
the Crowe Horwath brand and
showcasing our local strength. This
was an excellent platform for Horwath
Mak to reach out to future professionals
and source global talent”.
www.crowehorwathinternational.com
6

Audit | Tax | Advisory
May 2010
Europe, Middle East & Africa Region continued
Horwath Mak Offices in UAE and Oman Hold Training for Partners
Horwath Mak offices in the United Arab Emirates (UAE) and
Oman successfully held a joint training program for 22 of
their partners in Muscat, Sultanate of Oman. The training
covered technical topics such as audit quality and standardization
of policies, in addition strategies on how to leverage
the synergies between the firm’s offices to become more
competitive across markets. Dr. Khalid Maniar, the founding
partner of the group, provided an informative session on the
latest IT developments impacting an increasingly sophisticated
audit environment.
Accounting & Assurance
A Technical Standards Update Newsletter to be Created Shortly
By Howard Sibelman
Accounting & Education
Director
I am pleased to
announce that our
team will be initiating
a Technical Standards
Update
Newsletter in July. The newsletter will
The following training courses are on
the agenda for 2010. There are still
spaces available. The tuition cost is
indicated for each program. The
highlight proposed as well as actual
changes to the accounting and auditing
standards we all must follow, with
special attention given to developments
that affect the 20 key economic
centers identified in the strategic plan.
To make the newsletter as meaningful
as possible, we need your help. Every
issue of the newsletter will request that
Accounting & Assurance Training Opportunities
We remind the companies registered
with the PCAOB that the Form 2
Annual Report is due by June 30.
Please be advised: this is a lengthy
form which may require some time to
complete. If you need any assistance,
travel, hotel and other costs are borne
by the member firm; lunches are
included in the course tuition. If you
would like to register anyone for these
please contact Julian Jacoby at:
julian.jacoby@
crowehorwathinternational.com, or
Howard Sibelman at:
howard.sibelman@
crowehorwathinternational.com.
Horwath Mak partners from UAE and Oman attend a joint training session
members send Howard information on
the following items:
• notification of developments and
changes in technical standards,
and
• A&A materials (in electronic format)
that are related to technical
standards and that a member firm
has distributed in its local market.
programs, please contact Howard
Sibelman at howard.sibelman@
crowehorwathinternational.com.
Training Seminar Title Date Duration Location Tuition Cost Experience
Intermediate Level Auditors’ Seminar July 12-15 4 days Denver, USA US $1,300 12 - 24 months
Statistical Sampling August 16-17 2 days Denver, USA US $1,000 Heavy senior / Manager
Entry Level Auditors’ Seminar October 4-7 4 days New York, USA US $1,300 0 - 12 months
The PCAOB Form 2 Annual Report Due by June 30th
Also, please note that all member
firms participating in the audits of US
listed companies or providing such
services to a subsidiary or significant
investee of a US listed company
should be registered with the PCAOB.
www.crowehorwathinternational.com
7

Global Demand Creation
Demand Creation System Update
BY Dr. Molly Takeda,
Faculty, California State University and
Trainer, Crowe Horwath International,
Demand Creation Academy
Welcome to another edition of Demand
Creation System Updates! This month I
want to use a recent experience to drive
home a point about business development, the art and science
of creating demand.
I recently attended a conference designed to help participants
learn cutting edge technique, network with fellow professionals,
and build a community dedicated to a common
philosophy or approach to achieving goals. Before the conference
my expectations were that I would come away with
new insights and motivation to achieve my own personal
goals. But I was clear in my understanding that the conference
was what I made of it – not up to the organizers – thus,
I had no “entitlement mentality.”
How does this relate to Demand Creation? It relates because
our prospects or referrals on which we are calling form their
own set of expectations of our meetings with them, they come
with their own goals and expectations, and we have little control
over it. This dawned on me after my experience with the
conference, when I realized that organizers were also hoping
to create demand – for membership in their organization,
belief in their ability to deliver, and trust in their message. I
had just been a “client” in a Demand Creation interaction.
In my case the conference delivered. And I left with a belief
in the efficacy of my action plan. So, I asked myself, “How
did they do it?” How did the organizers help me achieve my
goals (even though I kept my thoughts to myself?)
They followed tried and true rules for creating the ultimate
conference that I am paraphrasing and adapting for demand
creation (“client” is also “prospect” or “referral”):
n Promise one specific payoff - then deliver it.
n Start on time, stay on time, and stop on time.
n Make it easy for people to network – exchange ways
to stay in contact.
n Don’t enforce your brand at the expense of your
client’s experience.
n Nourish the attention span of your client.
n Don’t chain yourself to your presentation - go with the flow.
n Provide more value than expected.
n Would you pay to attend this meeting? If not, add
value until you would.
n Be conscious of client’s perspective and adjust immediately.
n Creating demand doesn’t stop when the meeting
itself stops.
Audit | Tax | Advisory
Having attended many conferences, I’m aware that organizers
reaction to their own conference and managing the postclient
experience as part of their learning curve. Demand
Creation is no different. After your client meeting, do what
the best conference organizers do:
n Choose the best “aha moments” from the meeting and
refer to them.
n Identify the most topics discussed and prioritize them.
n Follow up with clients to obtain their immediate feedback.
n Ask other meeting attendees for a list of their favorite
‘sound bites’.
n Share your summary of the meeting with the client
and your team!
Why do this? Because the “positive energy” from your meeting
diminishes quickly, so you need to capitalize on the timing
by sharing the outcome with your team immediately following
the event. They will need reminders of what they just
heard, what they just learned and what they just promised!
And this invaluable information should be shared with support
staff and others who were not present for the meeting
and need to know what transpired.
You must capitalize on the learning from the meeting, otherwise
memories fade and the quality of your experience
declines – for you and the client.
As a debrief, you want to make sure you did not break the
“rules” when it comes to leading a Demand Creation meeting:
n Don’t repeat your bio; they can find that on their own.
n Thank the client for inviting you briefly, save elabora
tion for the VIP room.
n Tell them a story. Data without context is just numbers.
n If your presentation consists of information they
already know, you have failed.
n Everyone in the room should want to hear you again.
n Always leave time for a Q&A.
n Don’t make too much of Q&A; the client wants to hear
you, not itself.
n Leave the client with an action item, so your presenta
tion will live on beyond your exit.
And if you accomplish all of this there is no reason why your
prospect or referral will not become your client! This is
equally true for meetings, conferences, or any other
endeavor in which your goal is to create demand!
Send comments or questions to:
demandcreation@crowehorwathinternational.com.
May 2010
www.crowehorwathinternational.com
8

Mark Your Calendar!
EMEA Tax Conference 2010
June 17th to 19th
Dubrovnik, Croatia
For more information or to register visit:
https://www.SignUp4.net/Public/ap.aspx
?EID=CROW68E
IFRS for SMEs Workshop
Chicago, IL, USA
June 22nd
The first IFRS for SMEs workshop will
be offered by CPAI, with the support of
Horwath Leveton Boner (South Africa).
It will be held at the Trump International
Plaza in Chicago on June 22nd.
Presenters will include:
• Bruce Mackenzie of Horwath
South Africa
• Jeffrey Deane and Stephen Heilman
of Malin Bergquist & Company,
LLP in Pittsburgh, PA, USA
• Sean Lager of Frazier & Deeter,
LLC in Atlanta, GA, USA
Anyone interested in attending should
send an email to info@cpamerica.org
Goal of Connections
The goal of Connections is to share information and ideas that
will help our member firms succeed by communicating:
• developments within Crowe Horwath International which
reflect our role as a leading inter-national professional
organization;
• developments within our members communities which
may impact on other member firms or their clients,
• the diverse, high quality products, services and support
available within Crowe Horwath International; and
• achievements of our high quality, growth and technology -
oriented member firms.
We invite your submissions and comments; please e-mail them
to Crowe Horwath International headquarters.
Audit | Tax | Advisory
Intermediate Level Auditors’
Seminar
July 12-15
Denver, CO, USA
4 days - US $1,300
Experience: 12 - 24 months
Travel, hotel and other costs not
included; lunches are included in the
course tuition. For more information or
to register contact Howard Sibelman at
howard.sibelman@
crowehorwathinternational.com.
Statistical Sampling Seminar
August 16-17
Denver, CO, USA
2 days - US $1,000
Experience: Heavy senior / manager
Travel, hotel and other costs not
included; lunches are included in the
course tuition. For more information or
to register contact Howard Sibelman at
howard.sibelman@
crowehorwathinternational.com.
We also welcome quality photographs; please e-mail or
courier originals to Connections at:
Crowe Horwath International
420 Lexington Avenue
Suite 526
New York, NY 10170
United States
Tel: 1 (212) 808-2000
Fax: 1 (212) 808-2020
E-mail: contactus@crowehorwathinternational.com
Connections
May 2010
Entry Level Auditors’ Seminar
October 4-7
New York, NY, USA
4 days - US $1,300
Experience: 0 - 12 months
Travel, hotel and other costs not
included; lunches are included in the
course tuition. For more information or
to register contact Howard Sibelman at
howard.sibelman@
crowehorwathinternational.com.
Crowe Horwath International
51st Annual Meeting
November 14-16
New York, NY, USA
Please save the date.
More information to come.
Crowe Horwath International is a leading international network of separate and independent accounting and consulting firms that may be licensed to use “Crowe Horwath” or “Horwath” in connection
with the provision of accounting, auditing, tax, consulting or other professional services to their clients. Crowe Horwath International itself is a non-practicing entity, and does not provide professional
services in its own right. Neither Crowe Horwath International nor any member is liable or responsible for the professional services performed by any other member.
www.crowehorwathinternational.com
9