Kreston Global colleagues unite in London

In early June, Kreston Reeves welcomed to London over 300 leaders from more than 50 Kreston Global member firms from 57 different countries.

It was an opportunity for members from around the world to make new connections, build friendships and explore how the largest independent network of accountancy firms can best work together to better support their clients.

With Kreston Reeves co-hosting the event, many of our UK colleagues were asked to lead or contribute to panel discussions ranging from the UK’s tax landscape, audit regulation and environmental, social and governance (ESG) strategies.

We asked them to share their experiences from the Kreston Global London conference and what it means for you – our clients.

Resilience is the watchword for all our futures 

Andrew Griggs, Senior Partner and Head of Global, and Chairman of the Kreston Global Board

Opening this year’s global conference gave me the chance to reflect and revisit what I call the ‘Resilience Equation: adaptability, sustainability and people’. I believe these three elements will not just define the future of the accountancy profession and what we offer our clients, but the futures of our clients too. 

Adaptability starts with succession. Over the past year, we’ve reviewed succession planning at every level of the Kreston Global Board. For clients, that matters more than it might first appear. A well-governed network, with clear leadership pipelines, and structured engagement between experienced directors and future leaders, ensures our clients – wherever they may be in the world – will continue to receive the very best coordinated support.

Sustainability, too, is about more than ESG. It’s about building firms that are resilient, responsible and financially strong. Kreston Global’s new Sustainability Task Force is broadening its focus beyond ESG and developing practical diagnostic tools to help member firms create robust people strategies and become more resilient through access to artificial intelligence (AI) and marketing expertise. In turn, this helps them to better support their clients.

And ultimately, none of this works without people. Kreston Global’s community now includes over 30,000 people in 155 independent firms across more than 100 countries, all driving towards the same goal: firms that are equipped to serve clients well, wherever in the world they operate. 

Adaptability, sustainability, people. Together, they give me great confidence in Kreston’s future, and in what our member firms can deliver for the businesses and families who rely on them.

The city still wields power and influence 

Anne Dwyer, Audit Partner and Head of Real Estate

The Kreston Global conference brought audit specialists together from around the world and the message is clear: the City of London, its institutions and regulations, still wield considerable power and influence.

Its audit standards are recognised as among the best and are a global benchmark for quality, and that is unlikely to change anytime soon. They give investors and business owners confidence – an asset to be protected.

The Kreston Global network allows our UK clients to access firms anywhere in the world that hold the same high standards as Kreston Reeves in the UK.

But it is much more than a simple introduction. When a UK business needs advice in another jurisdiction, I will be there every step of the way acting as the global relationship partner. My colleagues and I will coordinate local advice, ensuring all reporting and compliance deadlines are met. It is a genuinely joined up service.

The Kreston Global conference afforded a vital opportunity to build and strengthen relationships with delivery partners – and to show off the strengths of the City of London and the UK. 

London sits high for international wealthy families

Tom Boniface, Private Client Tax Partner

My work as a tax adviser to wealthy international families and investors means I spend a lot of time looking at the up and downsides of living, working and investing in the UK.  

Wealthy individuals and their families, quite understandably, need to be aware of those risks, which include inheritance tax, capital gains tax or income tax.  

It does mean, however, that the ever-tightening tax landscape for wealthy international families can all too easily shape my view of the UK.

The Kreston Global conference was a great opportunity to take a step back and better understand how my colleagues and advisers from across the network see the UK. Surprisingly, they are far more positive than many commentators and media outlets here would have you believe. 

London remains a great destination on the world stage. It is seen as exciting, vibrant, culturally diverse and an amazing place to spend time. Importantly, its advisory community is still seen as world class. International families and investors want UK advisers. 

But the tight inheritance tax landscape raises the question of whether the UK is a sensible investment destination for investors that don’t have ties to the country. Many countries have tax regimes that are designed to attract international wealth and there is a belief among advisers around the world that the UK is beginning to lose out on competitiveness. 

That said, one asset class stands apart – UK prime trophy property. Here, investors value the postcode over the tax code. 

The conference afforded a great opportunity for me to strengthen the relationships I have with advisory colleagues around the world. It means UK families and investors can take comfort that when I introduce them to a colleague in South America or Asia, they know I am connecting them with someone I know personally.  

ESG – building a new service line 

Jennifer Williamson, Partner, Tax and Outsourcing 

A key role of the Kreston Global conference is to share knowledge and inspire global colleagues around the world. The ESG agenda is important to us, our clients and our accounting colleagues around the world. 

The demand for ESG services does of course vary around the world, with demand driven in part by increasing regulation and our clients’ desires to make the world a better place. The responsibility businesses have to the environment and the communities in which they operate is undoubtedly high on corporate agendas.

Demand for ESG guidance in the UK and the EU is there, often well before regulation emerges. It is in procurement processes, demanded by employees and future talent, and it affects supply chains and increasingly funding decisions.

My role at the conference was to share how Kreston Reeves built its ESG advisory practice, what that practice looks like, and how we support businesses in the UK and internationally. 

Strong ESG policies are not just a ‘nice to have’ or a passing fad. They are mission critical for many of our clients as they build long lasting value in their organisations.

Our focus is on making ESG part of the way we advise clients across all our established service lines, from tax and audit to reporting and advisory. By building a high-level understanding across the firm, we can provide more rounded, commercially relevant advice that helps clients protect value, reduce risk and make the most of the opportunities ESG presents. 

We also recognise the value of sharing this journey with other Kreston Global member firms. By being open about what has worked, what has been challenging and what we have learned along the way, we can help others accelerate their own progress and collectively strengthen our role as a responsible and forward-looking profession.

Creating a warm welcome to London 

Isabella Biurra-Hoy, Secretary in our London office

During the conference week, we invited Kreston Global members from around the world to visit our London office. 

What really stood out was the importance of human connection in business relationships and the impact that will have on helping our clients. Throughout the day, the London office became a hub for connection and networking. There was a genuine buzz around the office as people connected and reconnected with one another strengthening their relationships before the conference officially got under way. Some had only previously only spoken to each other by phone or Teams so the atmosphere created by real life connection really stood out.

Playing a part in the wider conference highlighted how important these moments of hospitality and connection are. Positive relationships have been built across our global network which will lead to personal introductions for our clients no matter where they do business in the world.

Clients assume technical ability when choosing an adviser and believe they will do their best for them. However, most also want to enjoy working with that adviser. Our conference certainly helped build better relationships among our people, which for our clients can only lead to truly personal referrals within our network and better outcomes for clients wherever they are based.

Find out more about about our global services here.