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IECnet Newsletter September 2023

Dear IECnet Members, in this Newsletter September 2023 you'll find the following topics: AGM London Staff Seminar Torino Audit Webinar on ISA 600 (Revised) IECnet Day EEC Meeting Torino Hervé Gbego

AGM London The Annual General Meeting in London is just around the corner and the Sayers Butterworth and IECnet teams are working flat out on the final details. To increase your anticipation, you can find more information about the hotel and our activities here:

Leonardo Hotel Treasure Hunt Lincoln's Inn

The Leonardo Royal St Paul’s hotel is situated between St Paul’s Cathedral and the River. It is close to the One New Change shopping centre, and Paternoster Square which has a wide range of bars and restaurants. During our Taxi Treasure Hunt on Saturday morning, we will embark on a captivating adventure exploring the city's famous landmarks and mysterious corners. The Gala Dinner on Saturday evening will be held at Lincoln's Inn. Lincoln’s Inn is one of the four Inns of Court and is recognised as being one of the world's most prestigious professional bodies of judges and lawyers.

Staff Seminar Torino The IECnet Staff Seminar held in Turin, Italy, from 21-23 September 2023 was a rich source of knowledge exchange among 32 young participants representing 11 diverse firms from 10 different countries. The event began with warm greetings from our hosts Michela Rayneri and Andrea Manenti (Studio Manenti Rayneri) and IECnet Chairman Vincent Domon. Their opening remarks set the stage for a collaborative and informative gathering. The topics included 'Lavoratori Impatriati' Tax Relief Scheme, Setting up a Limited Company Abroad, Tax Challenges with Permanent Establishments, Case histories in Accounting Audit and New Audit tools in IECnet. As the seminar concluded, participants were encouraged to explore Turin during their free time, taking in the city's rich cultural offerings. A memorable dinner at Ballatoio - Bistrot di Ringhiera and a guided city tour rounded off the experience . This seminar not only fostered cross-border learning but also strengthened professional relationships within the IECnet community. Thanks to Michela, Andrea and the whole team of Studio Manenti Rayneri for this wonderful Staff Seminar!

Webinar on Group Audits (ISA 600 Revised) A webinar session on Group Audits was conducted by Nikolai Slavyaninov on 26 September 2023 to cover the new aspects to be considered when auditing groups. 32 participants attended the webinar. One of the aspects that called more the attention of the attendants was the selection of the group components to be audited as the revised ISA 600 does no longer contemplate the limited review approach for components. Only full audit work is accepted for them. Other aspects to be considered are those related to the components that have to be selected for audit work and the work that the group auditor could do in the group components, ISA 600 (Revised) is applicable for years beginning on or after 15 December 2023 and is considered very relevant as our network is trying to increase its presence in the market for international groups.

IECnet Day On IECnet Day (25 September) we received many congratulations from all over the world. Many thanks to all members who celebrated the 36th anniversary of IECnet. This year was a particularly sweet one: from Australian donuts to cakes from Bangladesh and Sri Lanka, we received many photos of blue pastries. It continued with a video from Ecuador, greetings from Spain, LinkedIn posts from Germany, etc.  The 2023 winner of IECnet Day will be announced at the AGM in London. Traditionally, instead of a prize, coffee trees are planted in the name of the winner.

The team of MRH Bangladesh has celebrated the day at Dhaka and Chattogram offices. All of their partners, staffs and students are wishing best of luck for the great future of all of the members of this great network. The team of MNSA Australia gathered to celebrate the IECnet Membership and the IECnet Day and to eat blue donuts - yummy! RTA Sri Lanka marked this special day with an awareness session led by Managing Partner, Mr. Saman Srilal. At the head office, the team cut a cake to symbolise the occasion, and the branches in Kurunagala and Kandy also held cake-cutting ceremonies.

EEC Meeting Torino An EEC (Extended Executive Committee) Meeting took place with the Staff Seminar Torino. IECnet Chairman Vincent Domon, Executive Vice Chairman Daniel Ziska, Treasurer Miloud Stoti, Secretary Daniel Termin, Chairman of the Committee on Audit Frederic Borràs, Chairman of the Tax.Team Arigo Ploy and Chairman of the PR/BD Committee Suan Wee Tan met and discussed the 2023 General File, the preparation for the AGM in London and the new website. Frederic Borràs also presented the new audit tools available to IECnet members and spoke about need for all member firms that provide audit services to comply with ISQM 1 & 2.  We also had online meetings with Stefano Ciccioriccio to discuss the latest membership candidates and with Andrew Burch to finalise the organisation of the AGM.

Hervé Gbego Hervé's passing has caused great consternation and sadness in the large IECnet family. Numerous expressions of sympathy have reached us. Many thanks to all who have written to us and expressed their condolences. We have passed on the wishes to Hervé's family. Rest in peace, Hervé!

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