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					                         Doing business in Russia



                                   Subject
Economic section:
Challenges of International Economy and strategies for business growth
Types of capital movements and characteristics of capital movements in the
international economy
Advantages and disadvantages of doing business in Canada/Russia
International and local participants of international economic transactions and
their services
Typical problems of international transactions and business intelligence


Legal section :
The different types of legal organizations
The advantages and inconvenients of each type
How to create and register organisations
The Shareholders Agreement
The tax system in summary
How to securize your international transactions
Services overview
Talk to an adviser in one firm and you have access to the expertise of the entire network.
RSM member firms have extensive experience with all sizes of clients and types of
assignments, ranging from large publicly listed and public sector clients through to
owner-managed, director controlled businesses.
In addition to the traditional service lines of audit & assurance, accounting and tax, RSM
International member firms also provide a diverse range of business solutions and
consulting services. These include corporate finance and transaction support, cross-
border tax and expatriate services, corporate governance and risk assurance services and
business restructuring, outsourcing and general management consultancy.
RSM member firms don’t rush in with ready-made solutions. We listen first, and devote
considerable time, thought and energy to understanding your business and goals. As a
result, we are able to design perfect-fit solutions to achieve your short and long-term
ambitions.
     Audit, accounting & business services
             Audit and assurance
             IFRS
             Business services
             Strategies for business growth
             Financial management
     Consulting
             Technology
     Corporate recovery & insolvency
     Risk management
              Enterprise Risk Management (ERM) consultancy and risk management
               software
              Fraud prevention, investigation and forensic accounting services
              Information systems assurance
              Internal audit
              SOX Compliance audits
      Tax
           Corporate tax planning
           International tax planning
           Personal tax planning
           Personal wealth management
           Transfer pricing
      Transaction services
           Transaction support
           Capital markets
           Mergers and acquisitions
           Disposals
           Deal origination



Corporate recovery & insolvency
Global business is entering a very unstable and uncertain period. Although a strong CEO
can and should plan for economic cycles, many would not have predicted or planned for
the global economic slowdown we are now experiencing.
As the circle turns, many organisations will start to see the implications and potentially
become victims of the slowdown. As the market changes, businesses need to realign their
priorities and short-term direction to deal with the challenges.
RSM International’s member firms have teams of corporate restructuring experts who
have experience working with company directors, financial institutions, turnaround
professionals and venture capitalists, providing specialist corporate restructuring advice
and assistance.
If your organisation is experiencing a period of underperformance (due to the economic
slowdown or other reasons), it is vital that you seek the best specialist support available.
In our experience early identification of a problem coupled with prompt and professional
advice means that in many cases administration or liquidation can be avoided. Services to
companies and individuals includes:
     Turnaround solutions - comprehensive turnaround strategies from performance
         improvement management and working capital management to financial
         modelling and business planning.
     Debt advisory - debt advisory related services, including: distressed mergers and
         acquisition, debt and equity rescheduling, crisis cash management and assisting
         with negotiations with current and potential financiers.
       Exit strategies – providing advice and determining the preferred outcome
        including formal appointments, solvent exits, business sales and cross border
        capabilities.
     Corporate insolvency – formal insolvency services including: administration,
        company voluntary arrangement and liquidation and administrative receiverships.
     Personal insolvency – assistance with options for personal insolvency including:
        partnership voluntary arrangements, bankruptcy and individual voluntary
        arrangements.
If you’re a lender our member firms have a proven track record of offering sound
commercial and pragmatic advice to improve business performance and enhance
stakeholder value. We understand the bottom line for lenders and financiers is reducing
the risk of shortfalls in existing or future loans. Getting accurate answers quickly is just
as essential. Our members' experienced teams have worked with many banks and
financial institutions in their home countries recommending and implementing strategies
to maximise recoveries.

Services include:
    Independent business reviews
    Pre-lending reviews
    Representations at creditors meetings
    Formal insolvency procedures
    Forensic accounting
    Corporate reconstruction and monitoring
    Exit strategy planning


Audit, accounting & business services
All organisations need high quality audit and assurance services to meet their legal and
statutory requirements. Your accounting information requirements will vary depending
on the size and complexity of your organisation, but in all cases reliable information is
the basic prerequisite for confidence in the value of an organisation; for the investor and
the public as well as for the organisation itself.

RSM member firms’ auditors and IFRS professionals do more than deliver high quality
audit, accounting and business services. They also draw on their industry experience and
knowledge of their clients' business to provide astute feedback on your operations.

Services include:
    Audit and assurance

For many businesses a financial audit is a legal requirement. Debates about transparency,
independence and better corporate governance are likely to influence the provision of
audit services in many countries over the coming years.

RSM International’s member firms’ approach to audit is clear and consistent. It requires
the rigorous standards of professional competence, independence and objectivity that
clients rightly demand, yet still recognises that the auditor is uniquely placed to give
constructive advice to the client regarding its business.

By applying a risk based audit methodology (that is in compliance with International
Standards on Auditing (ISA’s) and is regularly updated for new technical
pronouncements and guidance on best practices), RSM member firms offer a tailored
audit approach with an emphasis on early planning and understanding how your business
operates. This enables them to identify key audit risks and tailor their audit response to
the unique aspects, size and nature of your business.

The benefit to the client is an effective, cost efficient, value-added independent audit,
performed in a timely manner by experienced professionals.

As well as financial audit services, RSM member firms also provide the following
services:
     Financial reporting
     Information systems and controls assurance
     Regulatory technical advice
     Forensic audit and investigation

    IFRS

More than 110 countries now apply International Financial Reporting Standards (IFRS), a
number that is set to rise to around 150 countries over the coming years. Most
importantly, the US Securities and Exchange Commission (SEC) has recently proposed a
roadmap that could lead to the use of IFRS by US listed companies in the future. With the
United States on board, IFRS would be set to become the common accounting language
of financial reporting worldwide.

RSM member firms offer a wide range of IFRS services with the benefit of practical
experience accumulated from working with clients on IFRS issues over a number of
years. In addition to accounting experts, our member firms' IFRS teams also comprises
business valuers, corporate financiers and those with industry-specific knowledge, who
provide proactive, practical and timely responses to your IFRS queries. Clients want an
adviser they can trust. These professionals are capable of exercising judgment with no
bias, integrity and able to balance rigor and flexibility backed by exemplary technical
knowledge.

To help meet your IFRS needs, RSM International has established the RSM IFRS
Champions Group that comprises IFRS professionals from member firms around the
world who meet to discuss leading edge developments on IFRS and to share experiences
arising from their IFRS work. This close working relationship facilitates speedy
communication on cross-border IFRS assignments, allows us to develop service lines that
respond to the needs of clients, and to monitor quality control of IFRS work carried out.
Through the network, RSM International is able to deliver consistent implementation of
IFRS for all clients and their subsidiaries.
IFRS services include:
    IFRS conversion projects (using the 4 stage RSM IFRS Conversion Methodology)
    Due diligence in an IFRS environment
    Valuations relating to the purchase price allocation process under IFRS 3
    Advice on structuring share-based (IFRS 2)
    Audit of IFRS financial statements
    Reconciliations between IFRS and local GAAP
    IFRS training
    IFRS technical assistance
    Assistance in the preparation of IFRS accounting manuals and implementation


http://www.rsmi.com/en/publications/service-literature/default.aspx

     Business services

Professionals at RSM member firms can help companies with their day-to-day administrative and
secretarial needs. They can provide solutions for streamlining your accounting and bookkeeping
procedures, so you can get on with running your business while knowing that all the accounting and
statutory needs are being taken care of. RSM member firms can provide the following services:

Bookkeeping and accounting services
    Bookkeeping
    Preparation of budgets, management accounts and periodic financial analyses
    Provision of temporary or part-time accounting assistance
    Design and implementation of accounting systems
    Preparation of accounting manuals
    Payroll services
Corporate secretarial services
    Assisting clients with their business’ entry strategy into the country
    Setting up new legal entities
    Maintaining minutes and other legal documents
    Non-executive directorships
    Preparing and submitting annual returns




     Strategies for business growth
Strategies for business growth
Whether your business is relatively new, or well established and expanding into new
territories, the challenges facing business growth, at home or abroad, can be considerable
and effectively managing your strategies for growth can help you succeed.

Starting at the grass roots, our member firms’ services include a full review of your
business effectiveness to ensure your operating at peak performance. From there, they
will tailor their services to your specific needs.

This may be advising on procedures to streamline business processes and improve
productivity to developing detailed strategies and plans for expanding into new countries.

RSM member firms support their clients’ growth as this equals their growth. You can be
sure that when you appoint an RSM member firm to help you grow your business, you
will get a team that knows your industry and will be as passionate about seeing your
business succeed as you are.
Services include:
     Conducting a full operational business review
     Reporting on maximising profitability and return on investment
     Developing a strategic plan and direction for your business
     Assessing organisational effectiveness and restructuring a group of businesses
     Optimising cash flow and researching access to new avenues of funding
     Business valuations
     Advising and assisting with new territory business entry strategies



    Financial Management


Financial management
Many organisations faces an expectation to provide high quality employee benefits and
pension plans as well as investing and growing its capital wisely. Increasing local
legislation coupled with a wide array of financial products, investment options and
pension schemes, means organisations should seek specialist expertise to help assess,
implement and manage the schemes and products which are most relevant and suitable to
their needs.

Many of the member firms within RSM International can provide you with reputable,
professional financial advice which is relevant for the countries in which you operate in
and so that you have the most up to date, appropriate and cost effective schemes in place.

RSM member firms advise and manage the portfolios of clients from small and medium
enterprises through to large corporations. As every organisation has differing
requirements in terms of employee schemes and investment requirements, advice and
services will be tailored accordingly.

Our member firms are fully authorised and regulated by the financial bodies that govern
the countries in which they operate. Their independence and reputation, coupled with an
extensive track record means they can advise on the many aspects of corporate financial
management, including:
     Employee benefits and insurance packages
     Corporate pensions and retirement schemes
     Corporate investment consultancy



Consulting
Companies today face a myriad of complex business challenges. It is not always possible
to keep your senior managerial team trained with the breadth of experience and skills
necessary to develop and implement effective improvement strategies. In many
situations, it is commonplace to look externally and source the required skills on a short,
medium or long-term basis.

RSM member firms have business consultants that provide a comprehensive range of
services in the areas of financial management, human resources, operations, performance
efficiency, strategy and technology consulting.
Our members have vast experience across many market sectors. They offer a customised
approach to their services that is based on your needs — combining in-depth industry
knowledge, based on effective and rigorous methods of operation and a longstanding
commitment to growing companies.
Services include:
     Management consulting
     Performance efficiency
     Production & operations consulting
     Public sector consulting
     HR and organisational development

     Technology Intelligent and effective use of technology is vital to an
        organisation's success. Smooth running systems and electronic business processes
        are a primary requirement to remain competitive, drive down costs and increase
        customer satisfaction levels.
Successful organisations face an expectation to have a fully integrated and interactive e-
strategy which encompasses the use of the internet and latest technologies to meet
customer demands and expectations.
RSM International's member firms can offer you access to in-house technology teams
who will combine sound business knowledge with proven software experience to offer
you intelligent technology-based solutions.
The technology areas that they can help you with include:
      IT infrastructure services, including information systems planning, data
       management and integration
      Business continuity planning
      Website development & compliance
      IT security and controls
      Risk management software

1. Enterprise Risk Management (ERM) consultancy and risk management software
The effective introduction, implementation and embedding of risk management systems
within an organisation’s own strategic and operational decision making processes is
essential for an organisation's success. RSM member firm’s have professionals who
specialise in enterprise risk management and can provide the following services and
solutions:
Risk Management Policy & Strategy
As the culture of understanding and embracing risk management increases, so does the
expectation and requirement for organisations to adopt appropriate policies and
strategies. Our member firms can assess your operations and controls to help you
determine your organisational risk appetite and maturity, introduce a risk management
framework and understand the risks your organisation is facing. They can prepare a risk
management strategy with policies covering your people, your computers and
information systems and internal control procedures and security.
Risk Awareness Training
If a risk management strategy is to be truly successful, organisations must embed a risk
management philosophy throughout the organisation. Consequently, board members and
senior management must understand and buy into risk management to drive forward a
risk enable organisation. As risks start to be devolved and managed at departmental and
divisional levels it is imperative that all those involved in the process are fully trained on
what is expected of them.
The risk management specialists within RSM's member firms can provide management
training to meet the specific needs of your organisation.
Risk Identification & Evaluation
Organisations are increasingly being expected to demonstrate that they have effectively
evaluated the risks they are exposed to and have put into place appropriate controls to try
to prevent the ‘worse case’ scenarios becoming a reality.
Our member firms will work with you to identify the risks you face and evaluate their
potential threat to your organisation. Areas covered include your staff, internal systems,
technology and security.
Risk Management Software
As organisations start to manage risk throughout the organisation, the IT-enabled
processes put in place to help manage them can often be inadequate, making updating
and monitoring the risks an onerous task.
To overcome this challenge, RSM member firms have access to a range of software
solutions. One such solution is, 4Risk, a tool specifically designed to help both corporate
and not for profit organisations manage their risks more effectively, developed by UK
member firm RSM Bentley Jennison.
2. Fraud prevention, investigation and forensic accounting services
Global surveys have shown that crime against businesses is increasing and is therefore an
issue that every organisation large or small should be addressing. The impact of business
crime can include major financial loss, compliance and regulatory infringement and even
criminal proceedings.

In addition to fraud and crime, organisations are also experiencing disputes and
professional negligence claims. Clearly these are of serious concern and should be
tackled in an expert, factual and concise manner.

Risk management professionals in RSM member firms can provide investigative
solutions to meet the legal standards required for criminal prosecutions, civil recovery or
disciplinary sanctions around the globe. With experience in many diverse areas including
advice on fraud risk reduction and fraud prevention, money laundering, whistle blowing
referrals, theft, surveillance and corruption, they provide proactive and reactive solutions
to your most difficult fraud related problems, whatever they may be.

Fraud prevention and investigation and forensic professionals are involved in many civil
and criminal cases, utilising accounting, auditing and investigative skills, relevant to the
country in question, when conducting an investigation.

Our member firm's forensic accounting teams look beyond the numbers, deal with the
business reality of the situation and deliver their independent opinion in clear terms. They
provide an expert forensic accounting service to organisations and professional advisers
across the world.
Fraud and forensic accounting services include:
     Fraud prevention and investigation
     Corporate integrity and security arrangements reviews
     Computer forensic investigations in criminal cases, civil litigation and
        employment proceedings
     Assessment of loss of profit and earnings claims
     Quantification of commercial claims
     Valuation of businesses including partner and shareholder disputes
     Assessment of matrimonial disputes
     Investigation and recommendations in professional negligence claims
     Quantification of benefit and available assets in confiscation matters
     Royalty and licensing audits



3. Information systems assurance
Almost all organisations will be vulnerable to attack and/or break down and failure of
their IT systems at some point. This can be due to flaws in the design of the
infrastructure, weak configuration settings, failure to apply security patches, or poor
security management. Even firewalls and anti-virus technologies are prone to
vulnerabilities and hackers are developing new ways of exploiting security weaknesses.
Unauthorised access to your systems and your data can have serious operational,
financial or legal implications, as well as damaging your reputation.

RSM member firms can offer a variety of specialist information security services
designed to reduce the risk of unauthorised access to your systems and data. Information
systems assurance professionals provide advice to help you make your technology
systems, and the processes they support, function as intended and that appropriate
contingencies are in place to allow your organisation to operate 'business as usual' in the
event of not being able to access systems. By assessing all significant risks and ensuring
they are being appropriately managed they can also help you consider how to use your IT
systems to better achieve your objectives.

Our member firms have the knowledge and experience in information technology
reviews, information security and internal audits to provide you with the
recommendations and reports necessary to fully understand how your IT systems are
being used. Services include:
     System assurance & interrogation services
     Project management
     Project assurance
     Controls design and implementation
     Post implementation reviews
     Attack and penetration testing
4. Internal audit
Successful organisations recognise that an effective internal audit service can make a
very positive contribution to the management of risk and the smooth operation of the
business.

Internal audit professionals at RSM member firms can work with you to understand your
business strategy and its associated business drivers, and how that strategy is delivered
through an appropriate operational business plan and process framework. Your
stakeholders will benefit from experienced independent professional evaluations and a
review of on the quality and effectiveness of the control environment within your
organisation.

Where areas are identified for improvement, they can work with you to help you identify
solutions and achieve your objectives.

Services include:
    Advising your management team to develop workable internal controls that
       enhance the control environment
    Providing advice on how to implement an effective and secured internal control
       environment
    Advising on how to manage core operational risk, especially those related to the
       reliability of business operations
    Assisting with linking operational strategies and risk performance measures to
       business goals
    Assisting with change management and business awareness processes by helping
     make the transition from existing practices to more efficient and focused
     approaches through training and assisting of staff in the development of new skills
    Evaluating the key structures, dynamics and processes required to underpin
     effective corporate governance.

5. SOX Compliance audits
For all Securities and Exchange Commission (SEC) registered companies, compliance
with section 404 of the Sarbanes Oxley Act presents significant challenges. Under the
requirements of the Act, management must review, test and document internal controls
over financial reporting, and accept full responsibility for the internal control structure of
the company.

RSM member firms can help you create a comprehensive project plan to address all the
complexities of section 404 so that your management board meets their legal
responsibilities with regard to financial control and reporting. They adopt a similar global
approach to JSox and KSox work and have experience of carrying out SAS70
assignments.

RSM member firms have Sarbanes Oxley specialists who have a thorough understanding
of regulatory requirements and their impact on controls, data, systems and infrastructure.
Their experience across a variety of regulated industries, and knowledge of risks and
controls, means that they can provide advice on risk, control and IT governance and
Sarbanes Oxley regulatory compliance issues.
Services include:
     Independent ‘readiness’ assessments
     Technical support – scoping, documentation, valuation and reporting
     Assessment of the control environment
     Direct assistance in the evaluation and remediation of controls
     Skilled resources so that you can release internal resources to concentrate on your
        business' usual activities
     SAS 70 reviews




Tax
Whether you require international, corporate, personal tax or wealth management advice
you can be assured that our member firms will provide services that are relevant to and
focused on your specific business requirements whatever their size and industry.

RSM member firms deliver client led services, using their experiences to provide:
   Practical and commercially focused advice that sees things from the business
     perspective of the client
      Efficient and streamlined project management of the work especially when
       involving multiple countries and more than one client and/or advisor location
    Partner-led services but with the benefit of having access to the skills of senior tax
       experts around the world - adding an extra dimension and bringing high quality
       and innovative solutions to your tax challenges
Tax services include:
    Corporate tax planning
    International tax planning
    Personal tax planning
    Personal wealth management
    Transfer pricing
1. Corporate tax planning
Whilst tax is an inevitable part of running your business, using a qualified tax adviser to
help with your corporate tax planning has many benefits. Inadequate or improper
handling of tax issues can result in major financial consequences and restrict your
company’s ability to invest and grow.
That's why RSM member firms take a balanced and integrated approach focusing on the
total business picture, not just your next return. Our members will help you define the
right overall tax position, designed to save you money in complex tax environments,
whilst at the same time meeting your larger business goals. Services include:
     Tax planning (corporate, SME)
     Business tax compliance
     Employment tax services
     Tax investigations
     Transaction services
     Succession and exit tax planning
     Not profit/tax exempt organisations

2. International tax planning
Cross-border transactions present unique challenges from a tax point of view.
Internationally active businesses find that compliance with the ever-increasing
complexity of tax rules around the world requires not only in-depth and up-to-date
knowledge of local rules but also seamless co-operation between tax professionals in
different jurisdictions.

The RSM International Tax Centre of Excellence brings together leading tax partners
from RSM member firms in key countries around the world. These partners are
committed to ensuring that the systems and processes behind providing international tax
services meet the needs of our member firms' cross-border clients.

Embracing the RSM Centre of Excellence approach, tax professionals in RSM member
firms work with their colleagues around the world to provide pragmatic solutions tailored
to the business needs of their clients. They provide direct access to senior tax
professionals and deliver solutions through international service teams.
Services include:
    Outbound and inbound investment structuring
    Transfer pricing
    Cross-border cash planning: dividend repatriation, funding, currency issues
    Indirect tax
    Customs and trade
    Workforce solutions – expatriate advice

3. Personal tax planning
Individuals and families that have achieved a substantial level of prosperity have complex
financial needs and often require expert advice and planning. Protecting your wealth is a
primary concern and effective tax planning has a large part to play in this process.
RSM member firms have advisors who have experience working with a range of high net
worth individuals from entrepreneurs to business directors to celebrities and major land
estate owners.
Anyone who enjoys a higher income should ensure their tax and personal financial affairs
are handled professionally. Managing personal tax effectively and keeping abreast of the
latest tax rules can be a challenge especially if you have assets in multiple countries or
jurisdictions. However, RSM member firms can provide effective planning and sound
advice, to help you make informed decisions to manage and minimise its impact on your
personal wealth, and help you achieve your personal goals.
RSM member firms around the world provide personal tax services including:
     Income tax planning and self assessment tax returns
     Inheritance tax, estate and gift planning
     Tax implications of buying or selling property in another country
     Wills and Trust planning
     Charitable giving, philanthropy or private foundations
     Family services to help design and manage key systems
     Succession / transition planning
     Valuation services
4. Personal wealth management
Managing personal wealth effectively can be time consuming and challenging. You need
to remain up to date with the latest products and favourable rates.
RSM member firms work for a range of private clients from high net worth individuals
and wealthy families to business owners and corporate directors. Our member firms can
provide professional, up to date knowledge that may help protect your wealth, plan for
your future financial security and resolve any complexities and conflicts caused by taxes
in different countries.
Having developed an understanding of your investment objectives, financial needs and
tolerance for risk, RSM member firm advisers will review various investment approaches
and strategic options and devise an investment blueprint, tailored to your particular
situation. They will work closely with you and any of your professional advisors,
maintaining clear lines of communication so that all parties are steering in the same
direction on your behalf.
RSM member firms can help you with any of your personal financial needs relating to:
      Retirement Planning
      Financial Planning
      Investment
5. Transfer pricing
Transfer pricing refers to the pricing arrangements set by international related entities in
respect of transactions between them such as the sale of goods, provision of services or
the transfer of intellectual property. It has become one of the most important international
tax issues facing multinational corporations, whatever their size.

Globally, transfer pricing has captured the attention of tax authorities, keen to ensure
their fair share of global tax revenues. Back in 1994, just two countries enforced formal
transfer pricing rules. Today, its over forty. For international companies the risk of being
challenged on their transfer pricing practices is mounting fast.

Organisations failing to fulfil the required standards risk incurring high financial costs in
terms of additional taxes, interest and penalties levied by the tax authorities. Our member
firms have conducted more than 150 transfer pricing projects for clients worldwide across
a full range of business sectors and industries. To assist, RSM International has
developed a ‘4-step’ transfer pricing review process that delivers three vital benefits to
clients: peace of mind, proof of compliance and an assessment of strategic potential. The
results of our ‘4-step’ review will provide you with:
     Minimised risk of double taxation
     Reduction of the worldwide effective tax rate
     Enhanced shareholder value
     Support documentation


Transaction services
Whether you are looking to make an acquisition, form a strategic alliance, raise or invest
capital or release funds through a sale or restructuring, specialist corporate finance advice
should be sought to assist you through the transaction to minimise the associated risks
and maximise the returns.
As a buyer, you want to be sure you’re making the right acquisition. You need to
anticipate the risks and issues that may arise. As a seller you want to ensure that you
understand all of the potential pitfalls and realise your shareholder value. If you are listed
on a capital market or you are contemplating an Initial Public Offering (IPO) you need to
know that your advisers have the experience and know-how to provide the appropriate
support and knowledge to see your company through any transaction. If you are merging
two businesses, you may benefit from an independent team who have experience of
working with companies like yours to maximise the value from such a merger and
minimise the impact on your management team, staff and customers.

RSM member firms work with companies of all sizes, around the globe, and can provide
the full range of corporate finance, lead advisory and transaction support services. From
pre-deal evaluation through to completion and post deal integration or separation, our
member firms offer sound, practical and innovative advice.

RSM member firms' corporate finance and transaction services teams have country,
market and sector knowledge, combined with specialist technical experience, offering
you the right mix of technical, commercial and operational experience for your unique
situation.

Services include:
              Transaction support
Whether you require assistance with assessing the suitability of an acquisition through
focused due diligence, would like support with structuring your deal from a tax-efficient
perspective or need help with post-merger integration, professionals at RSM member
firms can work with you to manage the process from beginning to end.
RSM member firms’ transaction support specialists have diverse industry and
professional backgrounds to provide the perfect blend of specific market focus and
transaction expertise.
RSM member firms bring together transaction support specialists, as well as
professionals from other disciplines, to provide an integrated approach which allows for
cost-effective tax structuring alternatives to serves their clients across the entire
transaction process.
Their responsiveness, depth of experience and access to other RSM member firm
professionals around the world, mean they can offer resources on the ground wherever
and whenever they are required. Access to extensive professional resources enables our
member firms to take a comprehensive, consultative approach to the multifaceted needs
of their clients' transactions. Services cover:

Pre-acquisition due diligence, including:
     Assessing the quality of earnings and cash flow
     Analysing the quality of assets to be purchased and liabilities to be assumed
     Identifying internal control weaknesses Internal audit
Successful organisations recognise that an effective internal audit service can make a
very positive contribution to the management of risk and the smooth operation of the
business.

Internal audit professionals at RSM member firms can work with you to understand your
business strategy and its associated business drivers, and how that strategy is delivered
through an appropriate operational business plan and process framework. Your
stakeholders will benefit from experienced independent professional evaluations and a
review of on the quality and effectiveness of the control environment within your
organisation.

Where areas are identified for improvement, they can work with you to help you identify
solutions and achieve your objectives.

Services include:
    Advising your management team to develop workable internal controls that
     enhance the control environment
    Providing advice on how to implement an effective and secured internal control
     environment
    Advising on how to manage core operational risk, especially those related to the
     reliability of business operations
    Assisting with linking operational strategies and risk performance measures to
     business goals
    Assisting with change management and business awareness processes by helping
     make the transition from existing practices to more efficient and focused
     approaches through training and assisting of staff in the development of new skills
    Evaluating the key structures, dynamics and processes required to underpin
     effective corporate governance.

      Identifying transitional issues
      Assisting with post-transaction integration issues
      Reviewing corporate, sales and employment tax positions and identifying areas of
       risk that may require specific protection in a purchase agreement
Vendor due diligence, including:
    Carve-outs
    Divestitures
    Spin-offs
    Sale planning
    Data room preparation
Financial forecast and working capital reviews, for:
    Capital market fundraising

For most companies, the advantages of being a public listed entity, such as greater access
to growth capital, enhancement of reputation and increased flexibility when making
acquisitions, outweigh the disadvantages e.g. greater regulatory burden, both in
management time and money or increased reporting requirements.

Boards of Directors and management teams who have been through an Initial Public
Offering (IPO) process will appreciate the time and effort that it can take to achieve a
successful listing. Subsequent transactions may also require significant resource and
without appropriate support, management teams can sometimes divert their efforts which
would normally be focused on running and developing the business.

Transaction support professionals at RSM member firms around the world have
significant experience in their local capital markets, but also can draw upon each other to
provide services in other markets where their clients have raised capital. By bring
together the capital market teams from across the globe this enables clients to benefit
from both a deep understanding of the markets on which they are listed, or seeking to list,
with the local jurisdiction knowledge that is required to make such a listing successful.

Assistance is offered with:
    Pre-IPO preparation and ‘grooming’: RSM members can help companies to
     decide on the most appropriate market on which to list, making introductions to
     other advisers, sourcing pre-IPO funding or advising on the preparations needed
     to be undertaken pre-listing, e.g. restatement of accounts under IFRS or
     appropriate risk management and corporate governance reviews
    IPO support: depending on the requirements of the market, RSM member teams
     can provide the support that is needed throughout the listing process, e.g. acting as
     Reporting Accountant on AIM or Independent Accountant on ASX listings.
    Post-IPO advisory services: once a company has successfully gone public its
     requirements for further support may include assistance with follow-on
     acquisitions and placings or dual-listings, financial reporting, risk management
     and tax structuring or transfer pricing to name but a few. The capital market teams
     work closely with other teams in their countries and throughout the RSM network
     to support listed companies in continuing to grow and develop their businesses.


    Bank refinancing
Deal structuring, support and advisory services, including:
    Recommending the optimal deal structure from a tax perspective
Whether you require international, corporate, personal tax or wealth management advice
you can be assured that our member firms will provide services that are relevant to and
focused on your specific business requirements whatever their size and industry.

RSM member firms deliver client led services, using their experiences to provide:
    Practical and commercially focused advice that sees things from the business
       perspective of the client
    Efficient and streamlined project management of the work especially when
       involving multiple countries and more than one client and/or advisor location
    Partner-led services but with the benefit of having access to the skills of senior tax
       experts around the world - adding an extra dimension and bringing high quality
       and innovative solutions to your tax challenges
Tax services include:
    Corporate tax planning
    International tax planning
    Personal tax planning
    Personal wealth management
    Transfer pricing



      Assisting stakeholders with personal tax concerns
      Recommending financing alternatives and sources
      Pre-closing assistance such as transaction modelling, acquisition and financing
       agreements and purchase price allocation
      Post closing assistance such as integration planning and operations improvement,
       human resources and transactions monitoring
    Other deal related advisory services such as closing balance sheet audits, purchase
       price adjustments and earn-out calculations
Post merger-integration, including:
    Procurement and e-sourcing reviews
    Process review, such as value stream mapping or lean thinking operational
       reviews
    Change management
    Leading and Developing high performance and other human resources reviews


              Capital markets
              Mergers and acquisitions
              Disposals
              Deal origination

				
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