The network conundrum

International affiliation sounds like a glamorous move for mid-tier accountancy firms but beware the pitfalls.

PROS

* The ability to exchange ideas with like-minded accounting firms on a global basis.

* Receiving a stream of referrals from fellow network members and refer their own clients that set up overseas to foreign firms.

* Staff exchanges between offices throughout the world.

CONS

* It can often take time to build relationships within the network and for lucrative referrals to flow through from overseas firms.

* Membership can cost thousands of dollars each year.

* The time taken to deal with administrative matters.

By John Stensholt
BRW. 26 August 2004