CPA Erdikler combines forces with KPMG
KPMG and Erdikler YMM (certified public accountants) recently united forces. The two institutions will now operate with a total of 1,450 staff, 520 of them tax experts. Saban Erdikler will be the head of tax services at KPMG. He described their merger formula as “One plus one will make three. We are united to expand the values we have. We will work for that. Similar power unions in the sector will follow us.” KPMG Turkey President Murat Alsan said that their team is very strong now in all sub-branches of tax. “We will be ahead of our competitors with this move,” he added. Erdikler and Alsan stated that for the first time, two groups came together on October 3 and they shook hands after a fast process of mutual communication. “We wanted to reach to global scale,” Erdikler said while Alsan said KPMG has a growing appetite and is in a rapid growth phase.
The b ggest problem w ll be f nanc ng
We also talked with Alsan and Erdikler about the hot agenda. It is not enough for companies to adapt to local rules. Today, compliance with international legislation has begun to climb to the top of agendas as a variable that needs to be paid attention to by companies. “The rules that companies are subject to are increasing. To understand what the rule is and how to adapt to it has become such that there is a need for external support. Working here with experts is vital. On the one hand, technology and globalization affect each other from end to end. There are no more local problems and solutions. A company somewhere in the world is experiencing the problem you are experiencing. Therefore, ‘adaptability’ will determine the success of companies in the future. Moreover, the biggest problem for developing countries will be the financing problem,” said Erdikler.
Noting that excessive financing burdens damage the company balance sheets, Erdikler also pointed out that finding medium-long term TRY financing is very limited.
Compan es to face three bas c changes
Alsan, referring to the 2018 CEO research by KPMG, said that companies in broad terms have tried to overcome three main problems. One was reorganizing their way of doing business in the face of power winds of technological change. Meanwhile, companies must navigate conflicts between a country’s business practices and global rule sets. Alsan pointed to the change of generation Y and Z following the X generation, noting that generations Y and Z are now challenging the companies to change as customers, not only employees. Alsan also shared its 2019 expectations, touching on the steps of major central banks, especially the Fed. “Abundance of cash is receding. With the slowdown in borrowing, growth is also slowing. Even if we start 2019 under these conditions, the second half of the year will be better. A new jump should be made to overcome the middle income trap with structural transformation,” he said.