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Are French Chartered Accountants, Partners in Your European Plans?

Primexis Insights
6 July 2016
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Discover the ideas and opinions of Primexis’s own Stefan Petrovski, qualified Chartered Accountant, within the International Business Services Department, which provides services to French branches and subsidiaries of international groups.

Stefan Petrovski has written a comprehensive thesis on the evolution of the Chartered Accountant profession following the implementation of European directives on the accounting field, and the place of this profession partnering and assisting its clients within this new economic space, the European Union.

The European Union represents a new market within which accountants are able to develop their professional activity, operate outside the country, increase their professional mobility and expand their networking potential by developing firms and/or a networks to fit European models. This European opening allows the profession to diversify in order to better adapt to the globalized economy of the 21st century.

Most of the main clients of accountants are already developed in this new area and are contributing to the development of the European Union. In 2013, small to medium sized companies for example, at the European level, employ 66.8% of European employees, or 88.8 million people and are contributing 58.1% of value added at factor cost.

According to Stefan Petrovski “to effectively support its customers in the EU, the profession of Chartered Accountant must undergo certain adjustments. Among them: strengthening or learning more European languages, a computer and digital ecosystem that better resembles that of its clients and of the market. The latter is a major asset to the internationalizing of an accounting firm since digital developments have effectively abolished European borders and distances”.

“Ultimately, the main obstacles for chartered accountants assisting companies throughout the EU are: labor laws, tax law, and mastering languages of individual states. The psychological barriers can be overcome as long as professionals are motivated, have confidence in their ability to open up to others and consider that the European Union now represents a common space for living and operating just as in our own national territory.”, he says.

To call upon the famous quote of Jean-Baptiste Rudelle, “Go big or go home”, it’s time for the Chartered Accountant to “ Go European or go late”…

Stefan Petrovski has been published in:
– The Cyprus Business Newspaper Financial Mirror
– The Lithuanian Order of Chartered Accountant
– More about the thesis published in 2016 by Stefan Petrovski

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