Global reach for Orient Best CPAs
Orient Best is a Shanghai based CPA firm and devotes itself to providing full range of CPA services, i.e. accounting, tax, auditing and consulting services, to both local and international clients. Over the last few years, as international investment plays an increasingly important role in China’s economy, Orient Best has focused more on international businesses.
“We need a bigger platform for international businesses.” It is the unanimous voices from Orient Best’s three partners. In 2012 Orient Best became a member of IAPA, one of the leading global associations of accountancy and business advisory firms. By joining IAPA, our firm is immediately in a better position to compete with the 'big four'.
In last three years, we have benefited enormously from our IAPA membership, experiences, expertise, and more importantly, being able to better service our existing international clients and gaining new international business. Followings are three typical cases:
- One of IAPA members in the Netherlands contacted us for support. A client of theirs has a subsidiary in China and the subsidiary is audited by a local firm every year in accordance with the Chinese Auditing Standards. We were assigned by the client for the review on the audit files and to conclude whether or not the local firm conducted the audit work according to International Auditing Standards.
- We received a referral from an IAPA U.S. member for a U.S. based company. The client had a Rep. office in Shanghai and planned to shift its business structure from a Rep. office to a limited company. We supported the client on a package of services related to the shift, including the liquidation of the Rep. office, incorporation of the limited company, accounting and tax outsourcing, etc.
- One of our clients is an Australian based architecture group. It has two subsidiaries in China, i.e. Shanghai and Hong Kong. As business increased between these two subsidiaries, the client needed tax supports from both areas, especially to avoiding double taxation. The tax systems in these two areas are different and we were not able to provide full tax supports to the client by ourselves, so, with the professional supports provided by an IAPA member in HK, we could satisfy our client’s full business needs. Our client is very happy as all the tax demands are met in both Shanghai and Hong Kong.
Membership collaboration is key and it is a great pleasure to know we can trust and rely on our fellow members around the world for quality services /support when necessary.
YU Weili | Orient Best | Shanghai | P.R. China