The FINANCIAL — Five Georgian companies already applied for the European Business Awards, which since 2007, has been shining a light on the most innovative businesses on the continent by promoting success, innovation and ethics in the European business community.
For last year programme, over 15,000 businesses were involved from 28 countries across Europe although Georgia was not among these countries.
RSM Capto Group became a leading sponsor of the European Business Awards (EBA). The FINANCIAL is a national media partner of the awards. Editor-in-Chief of the leading Georgian business newspaper Zviad Pochkhua, is one of the judges of the EBA.
In his exclusive interview with The FINANCIAL Kvinikadze, Managing Partner at RSM Capto Group, the ninth largest firm of financial and tax audit, tax consulting, accounting outsourcing services and evaluation in Georgia, underlined the advantages that the EBA can bring to businesses and gave his outlook on the current situation in Georgia and its prospects.
“Right now Georgia is in a period of transition and the new government needs time for its changes to be felt by businesses. To some people it may appear that the fast train that was the Georgian economy has slowed down, but I am confident that this train will be showing increased speed and efficiency soon,” Kvinikadze, told The FINANCIAL.
Kvinikadze is optimistic that Georgia will soon impress the rest of the world with its fast and effective development.
“We believe that Georgia’s attractiveness as a place to invest is increasing every year and this progress will be tangible soon. Georgia significantly differs from its neighbouring countries in the way that it strives towards Europe and a European model of society. I would advise every foreign investor to start business in Georgia. Capto Group’s initiative to conduct an Eastern European conference for RSM member countries is ample evidence of our interest in showing how transparent and attractive the Georgian business environment truly is,” said Kvinikadze.
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In 2011 Capto Group became the members of RSM. RSM has over 700 offices in 100 countries around the world, with more than 32,500 people on hand to serve businesses both large and small through its integrated global network of member firms.
In 2012, Ministry of Economy and Sustainable Development of Georgia included Capto Group- member of RSM into the list of audit companies officially approved to conduct mandatory audits in particular audits of investments made by companies within the state investment programs.
In 2012 in the framework of Revenue Service “alternative audit” project Capto Group was selected as “A” category independent audit company which is authorized to conduct audit examination of taxpayers of any category.
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Q. How many companies have already applied for the European Business Awards?
A. Through its membership in RSM, the leading sponsor of EBA for 2013/2014, Capto Group is delighted to be involved in the EBA awards programme and is encouraging Georgian businesses and individuals to take part in the 2013/2014 Awards.
On 19 April, Capto Group and RSM hosted leading Georgian businesses at Raddisson Blu Iveria where we announced that Capto Group will be a supporter of Georgian businesses applying for the European Business Awards (EBA). Since then a lot of businesses have contacted us to assist them in the process of applying for the EBA from Georgia.
For the 2012/2013 programme, over 15,000 businesses were involved from 28 countries across Europe but, unfortunately, Georgia was not among these countries. We believe that this year there will be several companies representing Georgia. Entries for the 2013/14 Awards programme are open until 21 June, 2013.
Q. How can the EBA change a company’s future?
A. We believe that the European Business Awards is a very good stimulus for the Georgian business sector – for small, medium as well as large-size companies to constantly strive to improve their results and become a part of Europe’s business elite. The EBA is open to all businesses. Entering the Awards enables the companies to associate and align with Europe’s commercial elite and benefit from extensive media and industry coverage for your company.
Q. Almost all audit companies as well as members of the ‘Big Four’ are present in Georgia. How do you compete with them and what are the main advantages of RSM Capto Group?
A. Capto Group has the widest chain of offices across Georgia, offering financially-focused services from four main offices in Tbilisi and branch offices in Batumi, Telavi, Kutaisi, Poti and Ozurgeti with their number increasing every year.
Wherever in the world your business is going, you need constant access to rapid, relevant answers and a fast-moving team on your side. RSM is one of the world’s most successful audit, tax and advisory networks of independently-owned and managed professional services firms. With global reach and local perspective, RSM member firms deliver innovative solutions, helping you see further, adapt faster and grow stronger.
RSM is the founding member of Forum of Firms (FOF) that is an association of international networks of accounting firms that perform transnational audits. Members of the Forum have committed to adhere to and promote the consistent application of high-quality audit practices worldwide, as detailed in the FOF Constitution. In 1993 RSM was the first company which introduced the unified auditing standard across the member firms. Our head office ensures RSM global standard is kept within its member firms.
The Big Four are present in almost every country but RSM is a global brand with global ambitions. Once you have connected with us, we tend to make you stay with us for the long haul. Our clients always receive appropriate and relevant answers to their questions. We react to new challenges in a timely manner and in fact, we believe that for a business, every problem is also an opportunity. Our clients appreciate our understanding of their business and our dedication to making things happen.
Q. In which sectors do you have the most clients?
A. Capto Group has extensive experience with all sizes of clients and all types of assignments, ranging from large publicly-listed and public sector clients through to owner-managed, director-controlled businesses. Capto Group serves clients across a wide range of industry sectors, including: banking, energy, insurance, trading and distribution, construction, manufacturing, retail, food and drinks manufacturing and services sectors.
At present the share of foreign companies is more than 50%.
Q. How affordable is your service for small and medium size businesses?
A. Capto Group is one of the leading audit and consulting companies in Georgia, specializing in: audit & assurance, tax, IFRS, accounting and financial services, transaction services, corporate recovery & insolvency, advisory, legal service. The demands for our services are quite high from small and medium size business companies and we always make sure our services are affordable for them. I want to restate here that our company is proud to have deep knowledge and extensive experience of local legal and tax environment that is of decisive importance for local and foreign businesses.
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